Effective May 26, 2022, the Oklahoma Medical Marijuana Authority (OMMA) is requiring every commercially licensed cannabis business in Oklahoma to be fully Metrc-compliant.
This requires that all plants, seeds, and cannabis products be tagged and tracked by this date. However, this does not apply to transporters, waste facilities, or dispensaries that are either disposing of or transporting a dispensary’s untagged products. The untagged inventory, though, must be either picked up or there must be arrangements made for it to be picked up no later than August 24, 2022. Dispensaries, transporters, and waste disposal facilities must continue using the OMMA reporting for any untagged sales, transports, and waste disposal through August 24, 2022.
Licensees must use Metrc for tracking inventory, transfers, waste, and sales. This applies to providing to patients and caregivers and must be adhered to by May 26.
Furthermore, every licensed cannabis business in OK must not only be registered with Metrc, but the owner or key employee must have completed the “New Business” training that is offered every weekday and on-demand in Metrc Learn.
After a licensee has received their credentials, they can log in to Metrc and access the Support page for additional on-demand training.
Dispensaries have until August 24, 2022, to either sell or legally dispose of any of their untagged items. Additionally, dispensaries cannot buy untagged inventory after May 26, 2022.
If a dispensary purchased a “Metrc-tagged” product that was not tested by Metrc–where the lab did not input the results directly into Metrc–then there is no deadline to sell it. Please note that once a Metrc-tagged package has been transferred or sold to a dispensary, it does not need to be tested again.
It is important that you still submit your monthly OMMA reporting through May 31! Metrc will take the place of OMMA’s monthly reporting requirements, and the template will no longer be necessary for all tagged sales, transports, and waste disposal after May 31.
If you have not signed up for the Metrc training, you may do so here:
https://franwell.quickbase.com/db/bqxv35wue?a=dbpage&pageID=2
Sandy Suchoff, CPA is the Founder and principal of Lefstein-Suchoff, CPA & Associates, LLC D/B/A The Canna CPAs. Suchoff has been featured and interviewed on MSNBC, FOX News, and Tune In Business Talk Radio as a tax advisor, as well as ONR Oklahoma PBS TV, Chasing News on FOX & WOR, KRQE 13, Cannabis Radio, Purple Haze Radio, and Cannabis Tech & Today as an advisor on cannabis tax and accounting.
