State Legal, Federal Illegal
Video Transcribed: What are the legal implications of the intersection between federal law and Oklahoma state law within the medical marijuana industry? I am Ope Adegbuyi, a medical marijuana business lawyer in Tulsa.
The legalization of medical marijuana in Oklahoma has created a unique legal landscape with conflicting federal and state laws. While medical marijuana is legal in Oklahoma under state law, it remains illegal under federal law.
This has created numerous legal challenges for medical marijuana businesses in Oklahoma, including access to banking services and federal tax deductions. So here are some of the legal implications of the intersection of federal and state law in Oklahoma’s medical marijuana industry.
So number one is banking services. Due to the conflict between state and federal law, many banks are hesitant to provide banking services to medical marijuana businesses. This law resulted in a cash-only society or industry, sorry, which poses a significant security risk for businesses and their employees.
Number two would be taxation. Medical marijuana businesses in Oklahoma are not eligible for federal tax deductions as they engage in illegal activity under federal law. This has resulted in significantly higher tax rates for medical marijuana businesses compared to other businesses.
Number three would be interstate commerce. While medical marijuana is legal in Oklahoma, transporting it across state lines is illegal under federal law. This has created challenges for businesses that won’t expand their operations to other states or import medical marijuana products from other states.
The next one would be number four, which is employment. While medical marijuana is legal under state law, employers are still permitted to enforce drug-free workplace policies. This means that employees can be terminated for using medical marijuana, even if it’s legal under state law.
The last one would be federal law enforcement. While the federal government has largely taken a hands-off approach to state-legal medical marijuana businesses, there is still a risk of federal law enforcement action. Medical marijuana businesses in Oklahoma must comply with all state regulations and ensure that their operations do not violate federal law.
So, for more information about this, you can contact me, an Oklahoma marijuana business law attorney, at oklahomamedicalmarijuana.attorney.