Arkansas saw a decrease in cannabis sales in 2024 compared to the prior year, even though dispensaries reported a rise.Total number of products sold: KNWA reports.
Arkansas dispensaries sold $2In 2024, the State will sell 75,9 millions of medical marijuana, down from its previous record annual sale of $283,000,000 in 2023. When? retailers sold more products overall — patients purchased 75,598 pounds of cannabis in 2024, up about 20% from the 62,227 pounds dispensed the previous year — overall revenue dropped, the result of lowering prices throughout the industry.
According to the report, over $31million in taxes on medical cannabis was collected by the state last year. This included a 6.5% tax (15.97 millions) and a 4% tax (which equated to $15.19 million).
In the last month, Gov. Sarah Huckabee Sanders said she intended to use revenue from medical cannabis taxes to fund the free school meal program in the state.
In 2017, medical cannabis supporters submitted a request for several modifications to the state-run program. These included home grow regulations, telemedicine accreditations and more physicians being able to certify participants. While advocates collected enough signatures for it to be placed on the ballot in November, the State Supreme Court nullified it, ruling it to be “misleading”, because it failed to inform voters that the initiative would have taken away lawmakers’ power to amend the 2016 state constitutional amendment which legalized medical cannabis.
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