Section 426 - [Multiple versions] Tax on retail medical marijuanaA. The tax on retail medical marijuana sales shall be established at seven percent (7%) of the gross amount received by the seller.B. This tax shall be collected at the point of sale. Except as provided for in subsection D, tax proceeds will be applied primarily to finance the regulatory office.C. Except as provided for in subsection D of this section, if proceeds from the levy authorized by subsection A of this section exceed the budgeted amount for running the regulatory office, any surplus shall be apportioned with seventy-five percent (75%) going to the General Revenue Fund and may only be expended for common education including funding redbud school grants pursuant to Section 3-104 of Title 70 of the Oklahoma Statutes. Twenty-five percent (25%) shall be apportioned to the State Department of Health and earmarked for drug and alcohol rehabilitation and prevention.D. Pursuant to Section 255.2 of Title 68 of the Oklahoma Statutes, the Oklahoma Tax Commission shall have authority to assess, collect and enforce the tax specified in subsection A of this section including any interest and penalty thereon.E. For fiscal year 2022, proceeds from the levy authorized by subsection A of this section shall be apportioned as follows: 1. The first Sixty-five Million Dollars ($65,000,000.00) shall be apportioned as follows:a. fifty-nine and twenty-three hundredths percent (59.23%) to the State Public Common School Building Equalization Fund,b. thirty-four and sixty-two hundredths percent (34.62%) to the Oklahoma Medical Marijuana Authority, a division within the Oklahoma State Department of Health, andc. six and fifteen hundredths percent (6.15%) to the Oklahoma State Department of Health and earmarked for drug and alcohol rehabilitation; and2. Any surplus collections shall be apportioned to the General Revenue Fund of the State Treasury.F. If any medical marijuana business licensee intentionally does not remit the taxes as required by the provisions of this section or the provisions of Section 1354 of Title 68 of the Oklahoma Statutes, the Authority shall permanently revoke the medical marijuana business license of the business licensee and the business licensee shall be permanently ineligible to receive any other type of medical marijuana business license issued by the Authority, including licenses for a dispensary, commercial grower operation, processing facility, transporter, research, education facility, and waste disposal facility.Okla. Stat. tit. 63, § 426
Amended by Laws 2023 , c. 168, s. 1, eff. 11/1/2023.Amended without change by Laws 2022 , c. 228, s. 29, eff. 5/5/2022.Amended without change by Laws 2022 , c. 228, s. 28, eff. 5/5/2022.Amended by Laws 2022 , c. 228, s. 27, eff. 5/5/2022.Amended by Laws 2021 , c. 584, s. 13, eff. 5/28/2021.Amended by Laws 2021 , c. 563, s. 2, eff. 5/28/2021.Amended by Laws 2021 , c. 553, s. 6, eff. 11/1/2021.Added by Section 7, State Question 788, Initiative Petition 412, adopted at election held June 26, 2018, effective one (1) month immediately following its passage.This section is set out more than once due to postponed, multiple, or conflicting amendments.