I’m Dr. Joaquin Acosta, CEO of Pharmtrue, and I’m done with the excuses. New Mexico’s cannabis industry hauled in $89.4 million in tax revenue for Fiscal Year 2023 [NM Tax], but the state’s dropping the ball—hard. Small operators like us in Las Cruces are fighting to survive while the system bleeds us dry. This isn’t a bump in the road; it’s a betrayal of the promise cannabis legalization brought—jobs, hope, thriving communities. I’ve spent the last 6 years fixing broken systems as a pharmacist and now as a cannabis operator. Today, I’m calling out this crisis and offering a real fix. At Pharmtrue, we’re not just hanging on—we’re pushing back, for our patients and our state.

The Revenue Engine: Small Operators Fuel It, Big Costs Crush Us

Since recreational cannabis kicked off in April 2022 [NM RLD], New Mexico’s been raking it in. A 10% excise tax (climbing to 18% by 2030) plus a 2% local tax generated $89.4 million in FY2023, part of $99.5 million since launch, with projections hitting $105 million by 2025 [NM EDD]. That’s money meant to rebuild our state—and small operators like Pharmtrue are the ones making it happen. We’ve turned empty spots into thriving shops, hired locals, and breathed life into Las Cruces. But the system’s stacked against us:

• Banking Fees: Federal illegality means 5-10% transaction fees or cash-only chaos [MJBizDaily]. Every cent stings.
• Taxes: The 10% excise tax plus 5.125%–8.8125% gross receipts tax takes up to 20% of our revenue [NM Tax]. It’s relentless.
• Market Saturation: No license caps have tanked wholesale flower to $1.50/gram [MJBizDaily]. Big players cope; smaller farms are sinking, fast.

For Pharmtrue, these aren’t just numbers—they’re our lifeline. Compliance costs, tax burdens, and market floods dictate whether we keep our team or shut our doors. We’re the heart of this industry, but we’re running on fumes while the state mishandles our money.

A Patient’s Story: Jane’s Fight for Relief

Meet Jane, a 62-year-old Las Cruces retiree who’s battled arthritis for years. Pills left her foggy and hooked—until she found Pharmtrue’s CBD oil. “It gave me my life back,” she says. But with tax mismanagement driving up costs, Jane’s worried. “I’m on a fixed income. If prices rise, I’ll lose the one thing that works.” Jane’s story shows what’s at stake: real people, not just businesses, suffer when the system fails.

The Diagnosis: $44.7 Million Wasted or Stuck

That $89.4 million gets split into four $22.35 million chunks—General Fund, Regulation and Enforcement, Substance Use Disorder, and Community Reinvestment—plus $14.9 million in local taxes [NM Tax]. Sounds organized—until you dig in. Nearly half—$44.7 million—is either wasted or locked up:

Substance Use Disorder Fund

• Allocated: $22.35 million
• Spent: $15 million, helping just 3,000 of 210,000 substance abusers—1.4%—at $5,000 each [NM Health], [SAMHSA]
• Reality: $7.35 million sits idle while 207,000 New Mexicans struggle. I’ve seen addiction destroy lives—this is shameful.

Community Reinvestment Fund

• Allocated: $22.35 million
• Distributed: $10 million by December 2024; $12.35 million stalled [SFNM]
• Reality: Aimed at 393,000 in poverty (18.7%) and 740,000 with obesity (35.1%) [Census], [CDC], but delays choke it. We need action, not excuses.

General Fund

• Allocated: $22.35 million
• Effective: Maybe $5 million reaches schools or safety; $17.35 million disappears into a $3.5 billion budget black hole [NM Voices], [NM Legis]
• Reality: Our cash should build, not vanish.

Regulation and Enforcement

• Allocated: $22.35 million
• Status: Keeps the market legal [NM RLD], but it’s just overhead.

This isn’t inefficiency—it’s a failure of leadership. At Pharmtrue, we see $44.7 million slip away while our communities ache.

Breakthrough: Free Health Consults from the Roots

At Pharmtrue, we’re not waiting for the system to catch up—we’re stepping in where it fails. As a pharmacist, I personally offer free health consults because insurance won’t touch them, and healthcare’s already a wallet-buster for too many in Las Cruces. Last month alone, I sat with over 50 patients—folks like Jane—helping them navigate pain, anxiety, and more with cannabis solutions tailored to their needs. “It’s like having a doctor who actually cares,” one patient told me. Want to see for yourself? Schedule your free consult here. We’re not just a dispensary; we’re digging into the roots of our community’s struggles, proving that help shouldn’t come with a price tag—especially when the state’s fumbling the revenue we generate.

The Stakes: Communities on the Edge

Here’s what’s at risk:

• Poverty: 393,000 New Mexicans—18.7%—barely getting by [Census]
• Health: 740,000—35.1%—facing obesity [CDC]
• Crime: 8.1 per 1,000, or ~17,000 victims yearly [FBI]

We’re more than shops—we’re lifelines. Pharmtrue’s built jobs and hope in Las Cruces, but an 18% excise tax by 2030 could crush us [NM Tax]. Big companies might weather it; we won’t. If we go down, the black market wins—crime spikes, dreams die. This is New Mexico’s battle.

The Fix: #FixNMNow – A Plan That Works

I’ve overhauled systems before—pharmacy, now this. Here’s how to make $89.4 million deliver:

• $25 million: Slash banking and compliance costs for small operators. Keep us alive, and we’ll lift communities.
• $20 million: Direct grants for jobs, housing, clinics—fixing War on Drugs scars. We know what works; let us lead.
• $10 million: Cannabis job training. Skills build futures.
• $35 million: Healthcare access. Healthy people make a strong state.

Cap the excise tax at 12%—stop strangling us [NM Tax]. By 2027, this could cut crime 10%, obesity 5%, and add 15,000 jobs [Vital City], [NM EDD]. This is math, guts, and action—Pharmtrue’s way.

The Bigger Picture: Fix the Root, Not the Fallout

Systems collapse when priorities warp—ours has. Lobbyists and bureaucracy hog the gains while we grind [OpenSecrets]. Pharmtrue’s about results—$44.7 million wasted isn’t that. Cannabis promised equity and growth for New Mexico; now it’s a broken vow. We’re the industry’s heartbeat—every dollar should serve us, not the swamp.

Call to Action: Stand with Us

This is personal. At Pharmtrue, we’re fighting for Las Cruces, for New Mexico, for Jane and thousands like her. We don’t want handouts—just a system that works. Share this post, call out the waste, and amplify #FixNMNow. Here’s how to help:

• Advocate to cap the excise tax at 12%.
• Contact your legislators—demand real answers on cannabis tax revenue.
• Spread the word with #FixNMNow on social media.

Let’s save our industry and our state—together, now.