Medical marijuana businesses continue to generate tax revenue across the state

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Courtney Young, The Green Lily dispensary owner, and Alicia Kastl have kept generating sales and tax revenues for state and local governments in Yukon. (Photo by Robert Medley)

By Robert Medley
Managing Editor

The dispensaries of the state have continued to generate tax revenues for state and local governments, as the most recent reports from the Oklahoma Medical Marijuana Authority show.

There are 12 dispensaries in the 73099 zip code, with three in Yukon City limits, Green Lilly, 355 E. Main, Loud Flower, 953 Cornwell Drive and Elevate, 1300 W. Vandament Ave. Piedmont’s one dispensary, Good Meds, 210 N. Piedmont Road, has closed temporarily. But co-owners Calvin Gidney said a new location is being sought, and he hopes to stay in Piedmont and Canadian County.

“We want to stay in Piedmont. We like the people and the town,” Gidney said. He said city officials approved of the dispensary when it opened in September 2019.

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“The city of Piedmont was really good to us and everything about the business and that is where we want to be,” Gidney said.

Meanwhile, for March 2021, dispensaries statewide paid $5,946,977 in state excise tax and $7,034,566 in state and local taxes for a total of $12,981,543.

For 2021 from January to March, dispensaries have paid out $16,638,851 in state excise tax and $20,307,012 in state and local taxes.

Dispensary owners pay a 7% state excise tax on gross receipts. State and local taxes are added to that total.

For the year 2020, the state collected $56,245,888 in excise tax and $71,593,772 in state and local taxes for a total of $127,839,660.

There are 2,214 dispensaries statewide and 7,396 growers, according to the Oklahoma Medical Marijuana Authority.

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