 On March 7th, voters in Oklahoma will be able to vote on State Question 820, which is on a special election ballot for the potential legalization of recreational adult-use cannabis.
After failing to make it on the November 2022 ballot due to procedural setbacks, advocates are now strongly pushing for voters to get this passed on March 7th, 2023. A report from the group, 'Yes on 820' says that if voters do approve the proposed measure, Oklahoma stands to make nearly half a billion dollars from the excise tax on adult-use marijuana sales in the first five years of implementation. The analysis was done by Vicente Sederberg LLP and the Oklahoma Cannabis Industry Association. They project adult-use sales will reach $1.8 billion over the first five years, and a proposed 15% excise tax will generate $484 million dollars. Andrew Livingston, director of economics and research at Vicente Sederberg, said in their press release: “Passage of State Question 820 would fuel economic activity, create jobs, and generate a new permanent stream of tax revenue for the state,” and “it can support a lot of critical government services that would otherwise go unfunded.” Comments are closed.
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