Cannibas Consultants For Marijuana In Oklahoma
Higher Yields Cannabis Consultants offers a full range of consulting services for selling medical marijuana in Oklahoma. Our vertically integrated consulting system offers a path to business success. From startup to scaling and expansion of your cannabis-related business and everything in-between our team of industry experts can help. If you have any questions please contact us online or call (844) HI-YIELD.
Important Compliance Considerations for METRC
in relation to selling marijuana in Oklahoma
As part of the most regulated industry in history, cannabis operators face intense scrutiny from local and state governments. METRC, a seed-to-sale tracking system, helps operators stay compliant by creating an easily identifiable chain of custody for each cannabis product. Using METRC makes recalls easy and ensures accountability.
Mandated in 15 states plus Washington D.C., METRC is similar everywhere. However, there are nuances in each state. In order to remain compliant, businesses must be aware of and adhere to their state’s specific regulations.
After a landmark Supreme Court decision in July of 2020, Oklahoma signed a seed-to-sale tracking agreement with METRC. Although we don’t know much about how the system will be implemented, we expect that it will be rolled out sometime early this year. Again, when we know more, we’ll let you know.
Licensing Marijuana in Oklahoma
The Oklahoma Medical Marijuana Authority, overseen by the state’s Department of Health, administers the rules and regulations governing licensing marijuana in Oklahoma. The application process in itself is simple but requires several documents that may take time to complete.
For example, all applicants are required to provide a certificate of compliance from the local jurisdiction where they hope to operate that they are compliant codes and laws for zoning, ordinances, safety, electrical, plumbing, waste, construction, and building specification. Other requirements include proof of lawful presence, Oklahoma residency, a criminal background check, a certificate of good standing from the state, a tax permit, and ownership details. The process includes a non-refundable application fee of $2,500 plus any credit card fees. All businesses must be 75 percent owned by Oklahoma residents, and applicants must be at least 25 years of age.
The state provides a simple four-page checklist to streamline the application process, available here. Applications are typically reviewed in less than 90 days. Unapproved applicants have 30 days to revise or submit additional information.Once approved, all businesses must register with the state’s Bureau of Narcotics and Dangerous Drugs Control and obtain a sales tax permit. A seven percent gross receipt tax is levied on cannabis sales, plus sales tax.
Every license must be renewed every year. Specifics on each business class are as follows:
- Dispensaries. A dispensary license for marijuana in Oklahoma allows the sale of plants, edibles, flowers, and concentrates. Operations must be at least 1,000 feet away from a public or private school or preschool. Homeschool locations, daycare centers, and childcare facilities are not included in the restriction at this time. Transactions are limited to 3 ounces of cannabis, 1 ounce of cannabis concentrate, and 72 ounces of medical products.
- Cultivation. A “grower license” in Oklahoma allows a grower to cultivate cannabis for sale to licensed state processors and dispensaries. Operations located within a municipality require an ordinary business license and a certificate of compliance with inspection requirements for each location that grows or stores marijuana in Oklahoma. Growers may also apply for a transport license to move cannabis to dispensaries.
- Processor. A cannabis processor license allows businesses to process marijuana in Oklahoma for medical purposes and sell it to licensed dispensaries and other licensed processors. Processors may also process cannabis into a concentrated form.
Every business must report on sales and operations monthly against a standard on-line template. The state recently increased its inspection authority to allow inspections at any licensed companies twice a year based on violations.
Contact Us To Discuss Licensing Opportunities For Marijuana In Oklahoma
Regulatory status for licensing dispensaries, cultivation, processing, and manufacturing in Oklahoma
The market for medical marijuana in Oklahoma was legalized in 2018. It is one of the largest and most accommodating in the nation today.
The state employs what the Marijuana Business Daily calls a “free-market approach” to the cannabis industry, with no caps to the number of licenses you can receive and a single application process for potential medical dispensaries, growers, and processors.
These and other conditions make the state one of the fastest-growing markets for medical cannabis sales. Adult-use cannabis remains prohibited.
Consulting Services For Marijuana In Oklahoma
At Higher Yields Cannabis Consulting (HYC), our cannabis consultants are here to assist you with planning and building your your business for marijuana in Oklahoma. Our team of canna advisors are well-versed in local laws on compliance, and we offer services that assist you in building your brand, creating your marketing plan, designing your website and assets, crafting your social media presence, and much more to help your business see success.
Contact us at (844) HI-YIELD to learn how we can assist you.
Why Choose Higher Yields Cannabis?
Higher Yields Cannabis Consultants is the premier consulting firm for the cannabis industry, with decades of experience helping established businesses, entrepreneurs, and investors alike.
We can assist with licensing, real estate, facility design-build, cultivation management, compliance, branding-marketing, and a variety of other services. The best part is we provide all of these services in-house, no outsourcing.
Find out why so many others trust us to protect their investment and get the most from their business. Call us at (844) HI-YIELD or fill out a contact form to schedule a consultation with us.
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