Medical cannabis sales in Iowa reached more than $10 million in 2022, according to Iowa Cannabidiol Board data outlined by the Des Moines Register. By November there were nearly 15,000 active patient cardholders in the state, while the number of registered caregivers rose to 2,300.
The majority of patients – about 10,000 – were registered for a qualifying medical condition while more than 2,800 were registered for post-traumatic stress disorder.
Last August, medical cannabis sales in the state topped the $1 million mark for the first time; comparatively, sales in December 2021 were $587,000. In all of 2021, the state reported $6.2 million in sales, up from the more than $3.5 million in sales in 2020. In 2019, the first year of the program, there were just over $2 million in sales, the report says.
As of November 2022, there were 1,920 medical practitioners authorized to recommend patients for the program.
In their year-end report, the Cannabidiol Board recommended excluding medical cannabis products from the state’s sales tax. The board said eliminating the tax would reflect the standard practice for medications and “reduce the cost burden of medical cannabidiol products on patients.” The board also recommended decoupling Iowa’s tax rule from federal rules for businesses that sell Schedule I or II drugs.
The board also called for the state to license more dispensaries as, currently, there are just five operational.
Get daily cannabis business news updates. Subscribe