Annual Fees Will Depend on Cannabis Production
Video Transcribed: How do legislative updates affect you as a processor? My name is Ope Adegbuyi and I am a medical marijuana business lawyer in Tulsa.
According to the newly passed House Bill 2179, which will be effective November 1st, 2022, the annual non-refundable license fee for a medical marijuana processing license shall be determined by tiers and as follows.
Tier one will be zero to 10,000 pounds of biomass or production or use of up to 100 liters of cannabis concentrate, the annual fee shall be $2,500.
Tier two will be 10,000 pounds to 50,000 pounds of biomass or production, or used from 101 to 350 liters of cannabis concentrate, the fee shall be $5,000.
Tier three will be 50,001 pounds to 150 pounds of biomass or production, or use from 351 to 650 liters of cannabis concentrate, the fee shall be $10,000.
Tier four will be 150,001 pounds to 300,000 pounds of biomass or production, or use from 651 to 1,000 liters of cannabis concentrate, the annual fee would be $15,000.
Lastly, tier five will be more than 300,001 pounds of biomass or production, or use in excess of 1,001 liters of cannabis concentrate, the annual fee will be $20,000.
For more information from an Oklahoma marijuana processor license attorney, you can contact me at oklahomamedicalmarijuana.attorney.