by Michael Tilley (mtilley@talkbusiness.net)
Arkansas’ medical marijuana sales totaled $135.5 million in the first half of 2024, down from the $141 million in the same period of 2023, a year with record sales of $283 million, according to the state’s Department of Finance and Administration.
The Arkansas Department of Health reports 105,039 active patient cards as of July 23, up 7.9% compared with the 97,374 active patient cards as of Jan. 9. State tax revenue collection on medical marijuana during the second quarter was $7.9 million, bringing the total since the industry launched in 2019 to $136 million.
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. The state also collects a cultivator privilege tax, which means tax revenue is not always tied to how much product is bought by consumers at dispensaries and the price for the product sold to dispensary customers.
