March 21, 2023

Arkansas medical marijuana gross sales up 4.3% in 2022

Arkansas medical marijuana gross sales set a brand new document in 2022 with $276.3 million in income, up 4.3% in contrast with the earlier document of $264.9 million in 2021, in line with the Arkansas Division of Finance and Administration (DFA).

Sizzling Springs was the recent spot for gross sales, with a mixed 6,258.77 kilos offered within the metropolis by two dispensaries (Suite 443 and Inexperienced Springs Medical) in 2022. The 38 licensed dispensaries within the state offered 50,547 kilos in 2022, up 25.2% in contrast with 40,347 kilos offered in 2021.

The Arkansas Division of Well being reported 89,855 lively affected person playing cards on the finish of 2022, nicely forward of 79,476 lively playing cards on the finish of 2021.

“Total, greater than $753 million has been spent to buy 123,650 kilos of medical marijuana since 2019,” DFA spokesman Scott Hardin stated in an announcement. “State tax income from medical marijuana totaled $32 million in 2022. This included $16.3 million from the state’s 6.5% gross sales tax together with $15.7 million from the 4.0% privilege tax. Each of those taxes apply to all affected person purchases. Nonetheless, solely the 4.0% privilege tax applies when a cultivator sells product to a dispensary.”

Taxes collected are 6.5% of standard state gross sales tax with every buy by a affected person and a 4% privilege tax on gross sales from cultivators to dispensaries. A lot of the tax income is positioned within the College of Arkansas for Medical Sciences Nationwide Most cancers Designation Belief Fund. The state additionally collects a cultivator privilege tax, which suggests tax income will not be at all times tied to how a lot product is purchased by shoppers at dispensaries and the worth for the product offered to dispensary prospects.

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Following are the highest 5 dispensaries for merchandise offered in 2022, with 2021 kilos famous in parenthesis.
• Pure Reduction Dispensary (Sherwood): 5,029.77 kilos (3,682 kilos)
• Suite 443 (Sizzling Springs): 3,724.69 kilos (2,899 kilos)
• The Releaf Middle (Bentonville): 3,670.75 kilos (4,012 kilos)
• CROP (Jonesboro): 3,317.43 kilos (582 kilos)
• Inexperienced Springs Medical (Sizzling Springs): 2,534.08 kilos (1,924 kilos)

The constitutional modification legalizing medical marijuana for 17 qualifying circumstances and making a state medical marijuana fee was authorized by Arkansas voters 53% (585,030) to 47% (516,525) in November 2016.