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Arkansas medical marijuana sales top $20 million for January

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Little Rock, Arkansas — In January, Arkansas medical marijuana patients spent $20.53 million at the state’s 37 dispensaries to obtain 3,731 pounds – which equals more than $5,500 a pound.

Since the first dispensary opened in May 2019, patients have bought more than 76,000 pounds of medical marijuana.

The state collected $2.84 million in taxes on medical marijuana sales in January, according to the Arkansas Department of Finance and Administration.

Since May 2019, the state has collected $60.19 million in tax from medical marijuana sales.

With $1.63 million, the largest month for collection of the 6.5% state tax was May 2021.

Taxes collected are 6.5% of regular state sales tax with each purchase by a patient, 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.

In November 2016, the constitutional amendment legalizing medical marijuana for 17 qualifying conditions and creating a state medical marijuana commission, was approved by Arkansas voters 53% (585,030) to 47% (516,525).

 

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