Little Rock, Arkansas – According to the figures for 2022, medical marijuana sales in Arkansas broke all previous records.
The Arkansas Department of Finance and Administration reports that dispensaries in Arkansas sold 50,547 pounds of marijuana in 2022, generating $273.6 million in revenue. Since the start of the marijuana market in 2019, 2022 is the biggest year in Arkansas’ history for marijuana sales.
The sales generate a sizable amount of tax income for the state, according to DFA spokesperson Scott Hardin.
“Overall, more than $753 million has been spent to purchase 123,650 pounds of medical marijuana since 2019,” Hardin said. “State tax revenue from medical marijuana totaled $32 million in 2022. This included $16.3 million from the state’s 6.5% sales tax along with $15.7 million from the 4% privilege tax. Both of these taxes apply to all patient purchases.”
According to Hardin, the 4% privilege tax only comes into play when a farmer sells marijuana to a dispensary.
With 5,029 pounds sold over the year, Natural Relief Dispensary in Sherwood took the top spot in sales. Suite 443 in Hot Springs came next, selling 3,724 pounds of merchandise.
89,855 patients have active medicinal marijuana cards, according to the Arkansas Department of Health.