Oklahoma Garners $82M in Taxes as Medical Marijuana Sales Reach $715M in 2024

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Race Day Live (Oklahoma, 2025) – A total of approximately $715 million worth of merchandise was sold by medical marijuana shops in the state of Oklahoma in 2024, resulting in tens of millions of dollars in tax income for the state.

A 7% excise tax on medical marijuana sales brought in an additional $24.5 million for the state of Oklahoma in the second half of 2024, according to a date that was issued by the Oklahoma Medical Marijuana Authority (OMMA). This figure is in addition to the $25.6 million that was collected between January and June of same identical year. According to these figures, patients who were receiving medicinal marijuana made purchases of $716 million worth of marijuana and items containing marijuana during the year 2024.

As a result of the 4.5% state sales tax, the state of Oklahoma was able to generate an additional $32 million from the sale of medical marijuana. In the year 2024, the state of Oklahoma collected around $82 million in income from the taxation of medicinal marijuana.

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The Oregon Medical Marijuana Association (OMA) reports that there are already 1,479 operational dispensaries spread out over the state. Since 2023, there has been a moratorium, which is a temporary ban, on the issuance of new permits for dispensaries.

Oklahoma Garners $82M in Taxes as Medical Marijuana Sales Reach $715M in 2024 (1)

Patients who have a recommendation from their physician are able to receive a medical marijuana card and purchase marijuana products from registered dispensaries thanks to the Oklahoma medical marijuana program, which was established in 2018 through State Question 788.

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It is one of the most accessible programs in the country, and the state does not have a list of diseases that are required to qualify for it. Instead, eligibility is determined at the discretion of the physicians.

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Mason Hart

Mason Heart is your go-to writer for the latest updates on Social Security, SNAP, Stimulus Checks, and finance. With a knack for breaking down complex topics into easy-to-understand language, Mason ensures you stay informed and ahead in today's fast-paced world. Dedicated to keeping readers in the loop, Mason also dives into trending stories and insights from Newsbreak. When Mason isn't crafting engaging articles, they're likely exploring new ideas to make finances more approachable for everyone.

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