A. The tax on retail medical marijuana sales will be established at seven percent (7%) of the gross amount received by the seller.
B. This tax will be collected at the point of sale. Tax proceeds will be applied primarily to finance the regulatory office.
C. 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. Twenty-five percent (25%) shall be apportioned to the Oklahoma State Department of Health and earmarked for drug and alcohol rehabilitation.
Added by Section 7, State Question No. 788, Initiative Petition No. 412, adopted at election held June 26, 2018, eff. July 26, 2018.
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