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Arkansas Made $23.5 Million In Medical Marijuana Tax Revenue So Far This Year, With State On Track For New Sales Record
“With monthly sales averaging $23.4 million, we remain on track to set a new sales record this year.”
By Kim Jarrett, The Center Square
Arkansas’s medical marijuana sales have brought in $23.5 million in tax revenue this year, according to information from the Arkansas Department of Finance and Administration.
Patients purchased $211.3 million of medical marijuana during the first nine months of 2023, up from $205 million during the same time period in 2022, according to the DFA.
More than 44,000 pounds were sold this year. The state’s dispensaries sold 5,227 pounds in August and 5,538 in September, according to statistics.
“Overall, patients have spent more than $965 million on medical marijuana purchases since the industry launched in May 2019,” said DFA spokesperson Scott Hardin. “This included $31 million in 2019, $182 million in 2020, $265 million in 2021, $276 million in 2022 and $211 million through September this year. With monthly sales averaging $23.4 million, we remain on track to set a new sales record this year.”
The state has collected more than $113 million in tax revenue since 2019, according to the DFA.
The number of patients receiving medical marijuana cards also increased from 89,855 to 96,056 currently. Patients and caregivers pay a $50 application fee to receive a card. Caregivers pay an additional $37 for a background check, according to the Arkansas Department of Health.
Suite 443 in Hot Springs sold more than 1,100 pounds in August and September, the most of any dispensary in Arkansas.
This story was first published by The Center Square.
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