Medical cannabis sales in Arkansas during the first quarter of the year were up 7.14% compared to the same quarter of 2022, according to Arkansas Department of Finance and Administration (DFA) data outlined by Talk Business & Politics. In March, Arkansas patients spent a record $24.9 million on 4,972 pounds of medical cannabis.
DFA spokesperson Scott Hardin told TB&P that state tax collection on medical cannabis totaled $2.48 million in March, bringing the overall total to $97.2 million.
The strong first-quarter sales follow record medical cannabis revenue in 2022 of $276.3 million, which was up 4.3% compared with the previous record of $264.9 million in 2021, the report says.
Arkansas collects a 6.5% regular state sales tax with each medical cannabis purchase and a 4% privilege tax on sales from cultivators to dispensaries. Most of the tax revenue is placed in the University of Arkansas for Medical Sciences National Cancer Designation Trust Fund.
The Arkansas Department of Health reports 93,977 active patient cards as of April 21, up from 89,855 at the end of last year.
Last November, Arkansas voters rejected a ballot measure to legalize adult-use cannabis by a 56%-44% margin.
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