Arkansas Medical Cannabis Sales Surpass $22 Million in June

Medical cannabis sales in Arkansas totaled $22.29 million in June, 5 News reports, as patients purchased 3,926 pounds of cannabis. 

The state Department of Health reported 84,472 active patients in June. 

Scott Hardin, spokesperson for the Arkansas Department of Finance and Administration, told 5 News that on average, patients are spending $22.37 million each month to purchase 3,920 pounds of medical cannabis. 

“State tax revenue generated from medical marijuana totaled $32.12 million in Fiscal Year 2022 (July 1, 2021 to June 30, 2022). The state’s 38 dispensaries sold 23,521 pounds of medical marijuana through the first six months of 2022.” — Hardin to 5 News 

Earlier this month, the campaign seeking to legalize cannabis for adult use in the state submitted 100,000 more signatures than required to put the issue to voters in November. The signatures have yet to be verified by the secretary of state’s office. To get the question on ballots, the campaign needs 89,151 signatures. 

If the reforms are approved, the state’s medical cannabis tax would be eliminated but the same tax rates – a 6.50% sales tax and 4% excise tax – would be applied to adult-use sales. The tax revenue would be used for the state’s general revenues as well as health care research, drug courts, and a stipend for law enforcement. 

The proposal by Responsible Growth Arkansas would legalize cannabis for adults 21-and-older while increasing the number of cultivators in the state from the eight allowed under the state’s medical cannabis law to 20 and the number of dispensaries from 40 to 120. The plan would not allow Arkansans to cultivate their own cannabis.