FAQ: How Much Did Illinois Make On Weed The First Day?

How much did Chicago make in weed sales?

Illinois nets more than $582M in revenue from recreational marijuana sales in 2020. CHICAGO (WREX) — Illinois brought in more than $582 million in revenue in the first year of legalized marijuana. From January through November, the state reported a total of $582,226,511.45 of revenue from adult-use cannabis.

How much money did Illinois make from recreational weed?

In all, Illinois has now racked up $1,064,750,968 in recreational cannabis sales since legalization took place. Of those sales, nearly $777 million were made to in-state residents, according to the Department of Revenue.

How much did Illinois make on weed first month?

Illinois hits new monthly record for recreational marijuana sales at nearly $115 million in April. Recreational marijuana sales in April blew away a short-lived monthly record in Illinois, as revenues totaled nearly $115 million.

How much is the sales tax on weed in Illinois?

Marijuana tax rates in Illinois Infused food and beverages come with a 20% marijuana excise tax. All other cannabis products containing 35% THC or less are subject to a 10% excise tax. All other cannabis products containing more than 35% THC are subject to a 25% excise tax.

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How much weed was sold in Illinois?

Recreational marijuana sales in Illinois set another record in May with more than $116 million of weed sold, the Illinois Department of Financial and Professional Regulation reported Wednesday. That tops last month’s record by $1.4 million, and is up 163% from May 2020.

Is weed legal in Illinois?

Weed is legal for personal use in Illinois as of January 1, 2020. There are many rules and restrictions about its use.

What is the Illinois tax rate?

Illinois’ sales tax rate is 6.25 percent on general merchandise and 1 percent on qualifying foods, drugs, and medical appliances. The tax rate may be higher in some areas because some local jurisdictions are allowed to impose their own taxes.

How much is a dispensary license in Illinois?

The Cannabis Regulation and Tax Act (410 ILCS 705/1-999) legalizes and regulates the recreational use and commercial sale of marijuana. The licensing costs for starting a new dispensary are: $5000 application fee (non-refundable) $60,000 licensing fee for a two-year license.

Is weed legal in Illinois 2021?

Introducing Your Guide to Marijuana in Illinois As of Jan. 1, it’s legal to buy and smoke recreational marijuana in Illinois – whether you like it or not.

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