Key Facts About Oklahoma’s Medical Cannabis Legislation

In a recent press release, Oklahoma’s Medical Marijuana Authority (OMMA) and Metrc revealed the initiation of Metrc implementation in Oklahoma. 

This development holds significant importance and urgency within the state’s burgeoning medical marijuana industry. We will provide an in-depth overview of Oklahoma’s medical marijuana laws and regulations, shedding light on the key aspects that shape the cannabis landscape in the state.

Overview of Oklahoma’s Cannabis Laws

At a glance, here are some fundamental aspects of Oklahoma’s medical marijuana laws:

1. Medical Marijuana Legalization: Oklahoma has legalized the use of medical marijuana only; recreational use of cannabis remains illegal.
2. Patient Licensing: Residents of Oklahoma with physicians now have the authority to make recommendations for patients seeking a medical marijuana license, which would enable them to obtain and utilize medical cannabis legally.
3. Business Licensing Requirements: Individuals seeking cannabis business licenses in Oklahoma must meet specific criteria, including being at least 25 years old and an Oklahoma resident; the individual in question owns a certificate of good conduct from the state. The fee required for a cannabis business license application stands at $2,500.
4. Excise Tax: In Oklahoma, cannabis sales are subject to a 7% excise tax and state and local taxes. This tax policy plays a significant role in contributing to the state’s revenue.
5. Regulatory Authority: Oversight of Oklahoma’s medical marijuana industry falls under the purview of the Oklahoma Medical Marijuana Authority (OMMA), ensuring compliance and accountability.
6. Possession Limits: those who possess medical marijuana licenses are granted the privilege of carrying up to 3 ounces of marijuana with them. In comparison, they can keep up to 8 ounces within their residence.
7. Metrc Implementation Deadline: A critical development is the looming deadline for all licensees to fully comply with Metrc in Oklahoma, set for May 26, 2022.

Now, let’s delve into the specifics of some essential cannabis laws and regulations in Oklahoma:

Frequently Asked Questions (FAQs):

Q. How is cannabis taxed in Oklahoma?

In addition to state and local taxes, Oklahoma’s medical marijuana program imposes a 7% excise tax on the price of cannabis products.

Q. Who can apply for a medical marijuana license in Oklahoma?

 Individuals who are 18 years old or older and have received a recommendation from a physician now have the opportunity to apply for a medical marijuana patient card. 

These comprehensive regulations and laws provide a clear framework for the medical marijuana industry in Oklahoma. Measures are being taken to ensure that individuals have access to cannabis products that meet the necessary standards. The focus is on maintaining accountability within the sector.