The state medical cannabis industry had a record year in 2023 with $283 million in sales, up from the record $276 million a year ago, according to data released by the state Department of Finance and Administration today. The state medical cannabis program surpassed $1 billion in total sales earlier this year.
The top-selling dispensaries in 2023 were Suite 443 in Hot Springs, Natural Relief Dispensary in Sherwood, CROP dispensary in Jonesboro, High Bank dispensary in Pine Bluff, ReLeaf Center Dispensary and Farm in Bentonville and Purspirit dispensary in Fayetteville.
The state also collected $31 million from two taxes on medical cannabis last year, bringing the total to more than $120 million in tax collections since the medical cannabis program began in 2019. Patients pay a 6.5% sales tax and a 4% excise tax on medical cannabis purchases, and dispensaries pay the 4% excise tax when making purchases from cultivators.
Suite 443 in Hot Springs was the top-selling dispensary last year at 6,279 pounds, followed by Natural Relief Dispensary of Sherwood with 5,647 pounds.
Read more at arktimes.com