Legal Outlook of Cannabis
Federally there is legislation that has recently passed the house of representatives that aims to federally legalize recreational marijuana (adult use). To read the full bill, or summaries of it you can go here.
Within Oklahoma we have a different bill that will be up for vote on March 7th, 2023 called SQ 820 that lays out t he framework for recreational cannabis within Oklahoma to be allowed to anyone over the age of 21 with no need to obtain a medical marijuana card.
SQ 820 establishes a 15% excise tax on recreational cannabis sales and provides language on the intended use of the bill which allows for the possession and distribution of no more than 8 grams of flower, or concentrates by any person 21+ to any person 21+ as well as allowing any person 21+ to grow up to 6 mature and 6 immature cannabis plants.
Initially the language in SQ 820 will restrict business licenses to those who already own and operate legal businesses within the medical cannabis program.
What does this mean for medical cannabis patients? The main takeaway is that there will not be 2 separate dispensaries required to separate medical cannabis and recreational cannabis sales. This also means if you no longer wish to participate in the medical cannabis program staff will still be trained on the benefits of cannabis and therefore you will still get the same care you’ve come to expect from Lotus Gold. The benefit of maintaining your status in the medical cannabis program will be your ability to purchase three ounces of flower, one ounce of concentrate and seventy two ounces of edibles as set forth by the guidelines of the medical cannabis program. You will also benefit from a reduced tax burden for cannabis purchases as you will be paying a 7% excise tax instead of the 15% that is established for recreational sales.
It appears increasingly likely that recreational cannabis in one form or another is going to happen soon for the state of Oklahoma which we view as a positive thing since it will increase access to cannabis even to those who would prefer not to participate in the medical marijuana program, however our focus is now and will always be to assist Oklahomans in improving their quality of life through cannabis!