How much has Illinois made on 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 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 is the weed industry worth 2020?
Legal cannabis sales in the U.S. passed $17.5 billion in 2020, growth of 46% over 2019’s $12.1 billion. BDSA forecasts U.S. sales to reach $41.3 billion in 2026, a CAGR of 15%. Illinois, which launched adult-use last year, saw the largest dollar gain in 2020, rising by $784 million.
How is weed taxed in Illinois?
Adult use cannabis: Adult use cannabis is subject to the 6.25% State Retailers’ Occupation Tax as well as local retailers’ occupation taxes in the same manner as other general merchandise.
How much did Illinois make on weed the first day?
First day of legal recreational marijuana sales in Illinois generates $3.2 million. CHICAGO – Illinois’ first day of legal recreational marijuana generated nearly $3.2 million in sales, state officials announced Thursday.
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.