Medical marijuana tax collections top $2.7 million in November, surpass $29 million for year

The Arkansas medical marijuana industry has generated more than $29 million in tax collections this year after the state reported Wednesday that last month’s tax collections topped $2.7 million.

Arkansas medical marijuana taxes brought in $2.7 million in November, bringing the total collections this year to $29,461,196, according to data released by the state Department of Finance and Administration. 

Medical marijuana patients pay a 6.5% sales tax and 4% privilege tax on purchases made at dispensaries. Dispensaries also pay the 4% privilege tax when they make purchases from cultivators.