Arkansas Reaps Benefit From Marijuana Taxes, March Brings Slight Increase In Illinois Sales

Arkansas Reaps Benefits Of Marijuana Tax Revenue, Here's How Much It Collected Since Program Launched

Tax dollars continue to roll into Arkansas, with approximately $100 million in medical cannabis tax revenue collected since the program launched in 2019, reported Arkansas Times.

The state Department of Finance and Administration's data suggest that the state has garnered $97.2 million through a 6.5% sales tax and a 4% privilege tax on medical cannabis paid by patients at dispensaries.

Meanwhile, in the first two months of 2023, Arkansans purchased a total of 8,832 pounds of medical cannabis worth $45.5 million, representing a nearly 10% year-over-year increase compared to the same period in 2022. In 2021, total medical cannabis sales in the Land of Opportunity amounted to $264.9 million.

March Brings Slight Increase In Illinois Cannabis Sales

In Illinois, recreational cannabis sales improved compared to the first two months of 2023, which saw a decline in the amount of cannabis sold statewide, reported New Cannabis Ventures.

Marijuana sales increased 11.9% quarter-over-quarter and 2.9% year-over-year to $134.8 million in March.

Interestingly, a recent survey by Cantor Fitzgerald, involving 52 Illinois dispensaries and their flower SKUs showed that the state's retail prices are down 18% YoY.

However, compared to other states, Illinois' flower prices (3.5g pack presentation) at $15.17/g are 25% higher than in Massachusetts, 23% higher than in Pennsylvania and 65% higher than in Florida, falling only behind Ohio ($17.81/g) and New Jersey ($16.68/g).

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