Recreational weed sales net $10M in tax revenue in 1st month

Illinois News

SPRINGFIELD, Ill. (AP) — 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. 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.  

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(This story was originally published on Feb. 26, 2020)

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