Keep Your Business in Good Standing
Video Transcribed: How long does a medical marijuana business’ sales tax permit last? I’m Ope Adegbuyi, a medical marijuana business lawyer in Tulsa.
According to the Oklahoma Tax Commission, sales tax permits last for three years. And that means every business must renew its sales tax at the three-year mark. But your sales tax permit itself would show your expiration date. So be sure to renew your sales tax prior to that expiration date. The renewal cost is $20. That’s the same as if you’re getting a new sales tax permit as well. And of course, you have to also pay the $10 cost for any additional location.
The sales tax can be renewed online on your OK tap business account that you can create after you initially file for a sales tax. So for example, if you filed for a sales tax today, then you’d be able to create a business account the next day or after you’ve filed for that sales tax. And so when you’re renewing it in the next three years, you already have that account and you can use that account to renew your permit.
For more information, you can contact me, an Oklahoma marijuana business regulation attorney, at oklahomamedicalmarijuana.attorney.