HB2176

Oklahoma HB2176 establishes a 7% tax on retail medical marijuana sales, with proceeds allocated to various state funds and the General Revenue Fund.

Oklahoma HB2176 amends state revenue administration by setting a 7% tax on retail medical marijuana sales. The tax proceeds are allocated to the State Public Common School Building Equalization Fund, the State Department of Health for drug and alcohol rehabilitation, and the General Revenue Fund. Any surplus collections are directed to the General Revenue Fund. The Oklahoma Tax Commission is tasked with collecting and enforcing the tax, retaining a fee of 1.5% of gross collection proceeds, which is deposited in the Tax Commission Reimbursement Fund. The act becomes effective November 1, 2025.