Dispensaries Need an Oklahoma Tax Permit Because They Sell Retail and So They’re Going to Be Collecting Taxes
Today we’re going to talk about the list of persons and or entities that have an ownership interest in the business and your, let’s see, Oklahoma tax permit.
All right, growers do not need an Oklahoma tax permit. Dispensaries need an Oklahoma tax permit because they sell retail and so they’re going to be collecting taxes. So if you are wanting to start a dispensary, then you must apply for an Oklahoma tax permit through the Oklahoma Tax Commission.
It’s a little bit more complicated then getting an EIN. It’s doable, but it’s a little bit more complicated but it’s a necessity if you’re going to do a dispensary. And then your owner, let’s see, your list of persons and or entities that have an ownership interest in the entity.
I, so what this is, it’s an Excel document that’s on OMMA‘s website. Again, it is listed in the, if you go to the website, there’s a link that says businesses or business, and you click on that and there’s a drop down box and it’s at the bottom, it says forms. It’s listed in those forms, under businesses.
Basically what you have to do is you have to fill it out and put each owner’s name, their share of the business, what their role, title is and I think that’s pretty much everything. It’s a real simple document.
My bank asked for more information than that. So, that’s all you need for step seven is your list of persons and or entities that have an ownership interest in the entity and your Oklahoma tax permit. So, if you have any questions, you’re free to reach out and contact us.