Illinois – Tax Revenue from Illinois Adult-Use Cannabis Sales Surpassed $10 Million in January

Tax revenue from Illinois adult-use cannabis sales surpassed $10 million in January, according to a Chicago Tribune report.

Illinois collects sales tax, as well as an additional cannabis tax, on adult-use sales, and January sales brought in more than $3.1 million in sales tax revenue and more than $7.3 million in cannabis tax revenue, the news outlet reported.

At this rate, the state is on track to top Gov. J.B. Pritzker‚Äôs budget estimates, which projected that the state would collect $28 million in cannabis tax revenue before June 30, according to the Chicago Tribune.

For the Full Story: Cannabis Business Times

Cannabis Business Times
by Melissa Schiller
February 25, 2020