A new report from the Department of Finance and Administration shows that medical cannabis sales in Arkansas have surpassed $250 million for 2021 and are continuing to grow. According to the DFA, Arkansas patients have spent $486 million to obtain more than 71,829 pounds of medical cannabis since the state’s first dispensary opened in 2019.
When a patient makes a purchase at a dispensary, the taxes that apply are a regular state sales tax at 6.5% and a privilege tax at 4.0%.
The state is close to reaching $54 million in state tax collections being generated since mid-2019. So far, $30.7 million in state tax revenue has been collected in 2021. State tax collection from medical cannabis totaled $2.56 million in November. The largest month of state tax collection was May 2021 with $3.28 million.
Read the complete article at wreg.com.
