Important Changes to Oklahoma’s Medical Marijuana Regulations
What Is OK HB 2289?
What is HB 2289? I am Oklahoma medical marijuana business attorney Ope Adegbuyi. HB 2289 replaces references of the OSDH with OMMA. This means that OMMA is now its own authority in regards to the contract with the Oklahoma Tax Commission.
The amended laws add that in preparation for a special event, organizers or promoters are required to submit a list of registered vendors holding an Oklahoma sales tax permit issued under Section 1394 of the tax code. Additionally, employers filing a late annual reconciliation for withholding taxes will now face a $1,000 fine.
Any changes in the tax code should prompt taxpaying cannabis business to review their obligations and adjust their practices accordingly, ensuring compliance and adherence to the updated regulations. You can now be revoked or permanently barred from future licensure for intentionally failing to remit your taxes as a cannabis business.
The Importance of Paying Sales Tax
So this goes to dispensaries and processors because they are the ones that pay the sales taxes. You would need to pay your sales tax unless you can be fined up to $1,000 and then your license can also be revoked and HB 2289 is effective right now so that means you know if you haven’t been paying your taxes or whatever you can get that fine and you can get your license revoked.
Contact for More Information
For more information, you can contact me, a Tulsa marijuana business compliance lawyer, at OklahomaMedicalMarijuana.Attorney or call (918) 932-2879. Take action now to ensure you are in compliance with the updated regulations and protect your business.