OKC Sees Increasing Revenue From Medical Marijuana Taxes

Monday, December 30th 2019, 9:03 am

By: News 9

Oklahoma City brought in nearly $2 millions in medical marijuana sales taxes this year, thanks to continuous increases in revenue each month.

According to the Oklahoman, the month by month increases in sales tax revenue averaged from its lowest of $20 thousand in between January and February this year, to its highest of more than $50 thousand in between June and July.

While the increase was steady, there was a slight drop in revenue from August to September, however it picked back up during October.

The Former Oklahoma City treasurer says gathering data on the sales tax revenue is a "very manual process" because the medical marijuana industry does not have an industry code that allows the city to separate their numbers.

While October brought in the most money from medical marijuana sales taxes, the city says that still only accounts for less than one percent of the city's total sales tax that month.