According to a new economic analysis, excise taxes from retail cannabis sales in Oklahoma could yield $434 million in new tax revenue over four years.
Region: United States
Authors estimated that legalization will create 3,375 new jobs and will yield nearly $82 million in annual tax revenue.
The agency had previously opined that regulating hemp-derived CBD products as dietary supplements could potentially discourage the use and development of CBD prescription drugs.
Regulators are hopeful that the commission’s actions may clear the way for the opening of state-licensed dispensaries by this spring.
“People may be obtaining codeine from pharmacies for misuse; recreational cannabis laws reduce this illicit demand.”
“Subgroups with past-year cannabis use that displayed significant declines in DUIC include males, [those] ages 18–25, … and those living in a state with a medical cannabis law.”
The proposed rules are now subject to a public comment period, which runs until March 18, 2023.
“The findings of this study indicate that neither past nor current cannabis use are associated with the likelihood of having clinical hypertension,” investigators concluded.