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Medical marijuana industry booming, Arkansas legislature make change to taxes

Medical marijuana industry booming, Arkansas legislature make change to taxes

LITTLE ROCK, Arkansas — Since the first medical marijuana dispensary opened in 2019, Arkansas has reached almost $1 billion in sales, but the legislature has changed where that tax money will go. Instead of the money going towards some state agencies and UAMS, the tax dollars will be used to help pay off student school

LITTLE ROCK, Arkansas — Since the first medical marijuana dispensary opened in 2019, Arkansas has reached almost $1 billion in sales, but the legislature has changed where that tax money will go.

Instead of the money going towards some state agencies and UAMS, the tax dollars will be used to help pay off student school lunch debts and for more medical residencies to try and help rural areas get more doctors.

UAMS will continue to get money from the state, but it won’t be through the medical marijuana program. The medical center received about $62 million in tax dollars for its national cancer institute designation through the medical marijuana program.

Arkansas is on pace to bring in a record-breaking $280-300 million in medical marijuana sales, which would break last year’s record of $276 million.

Read more at thv11.com

Jason Laine
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