Annual Fee Will Depend on Sales Tax
Video Transcribed: How do the legislative updates affect you as a dispensary? I am Ope Adegbuyi, an Oklahoma marijuana business attorney.
The newly passed House bill 2179, which will be effective November 1st, 2022, states that the initial fee for a medical marijuana dispensary license shall be $2,500. The annual non-refundable fee for the medical marijuana dispensary license shall be calculated at 10% of the sum of 12 calendar months of the combined annual state sales tax and sales excise tax of the dispensary. The minimum fee shall not be less than $2,500, and the minimum fee shall not exceed $10,000. And so basically, your initial fee as a dispensary is 2,500, and then whenever you’re renewing it, your fee is going to be 10% of the total sum of your sales tax for 12 months preceding your renewal.
For more information from a Tulsa marijuana dispensary license lawyer, you can contact me at OklahomaMedicalMarijuana.attorney.