Adam JacksonArkansas medical marijuana patients spent a total of $45.5 million on products in January and February, up 9.6% from the first two months of 2022, according to the Fort Smith Times Record.
The Arkansas Department of Finance and Administration reported that the total amount purchased by registered patients in that period was 8,832 pounds.
The highest sales were recorded at Natural Relief Dispensary in Sherwood, with 884 pounds sold, followed by Suite 443 in Hot Springs with 856 pounds.
DFA spokesperson Scott Hardin reported that the state collected $5.3 million in tax revenue from medical marijuana sales in January and February.
Since the state’s medical industry’s launch in mid-2019, the state has collected a total of $94.7 million in tax revenue. The tax is comprised of a 6.5% state sales tax and a 4% privilege tax on sales from cultivators to dispensaries.
As of March 10, the Arkansas Department of Health reported 92,337 active patient cards, up nearly 2.8% from 89,855 cards at the end of 2022.
The news of climbing sales comes after a record year for medical marijuana revenue in 2022 and right off the back of a failed effort by advocates to pass a recreational measure. Voters in the Little Rock State last November rejected the chance to usher in an adult-use program.
In total, the state brought in $276.3 million in 2022, up 4.3% versus the previous record of $264.9 million in 2021.
Two dispensaries in Hot Springs (Suite 443 and Green Springs Medical) accounted for the highest sales in 2022, with a combined 6,258.77 pounds sold.
Collectively, the state’s 38 licensed dispensaries sold 50,547 pounds in 2022, a 25.2% increase versus the 40,347 pounds sold in 2021.
The majority of the tax revenue collected is allocated to the University of Arkansas for Medical Sciences National Cancer Designation Trust Fund, while the cultivator privilege tax ensures that tax revenue is not solely tied to consumer purchases at dispensaries.
