Recreational Weed Sales Net $10M in Tax Revenue in 1st Month

Dispensaries across the state sold nearly $40 million in recreational pot in January

NBCUniversal, Inc.

The Illinois Department of Revenue is reporting the sale of recreational marijuana in Illinois generated $7.3 million in cannabis tax revenue last month.

In addition, the department says an additional $3.1 million was generated in retail sales tax revenue.

A moratorium will keep recreational pot out of some suburbs for some time, but another suburb is debating a ban on cannabis sales in its downtown.

Dispensaries across the state sold nearly $40 million in recreational pot last month.

In his fiscal year 2021 budget released last week, Gov. J.B. Pritzker projected marijuana sales would generate $28 million in cannabis tax revenue for the remainder of fiscal year 2020, which ends June 30.

Illinois officials estimate that as the industry matures, marijuana sales will grow to $127 million in fiscal year 2021.

Copyright The Associated Press
Contact Us