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IL to Make $11M from Marijuana Applications and Licenses

Illinois Marijuana Dispensary
Marijuana and money are officially synonymous in Illinois. The financial gains from Illinois’ medical marijuana program are becoming apparent to state officials.

Potential cultivation centers have a non-refundable $25,000 application fee in which the state pulled in more than $3.9 million from 158 applications. And, if approved, they have to pay a $200,000 licensing fee. The state plans to award licenses to 22 cultivation centers throughout the state over the next few months, which will generate $4.4 million in licensing fees for the state.

Potential dispensary applicants have to pay a $5,000 application fee, and with 211 applications received by the state, they brought in over $1 million. If approved for a dispensary license, the dispensaries will have to pay an additional $30,000 in licensing fees. The state plans to award up to 60 dispensary licenses, which will generate around $1.8 million.

The state has also forced marijuana businesses to pay annual renewal fees that cost $25,000 for each operating dispensary, which will generate $1.5 million per year. Cultivation centers are forced to pay an annual renewal fee of $100,000, which will generate about $2.2 million per year.

The state will also make money from every medical marijuana card approved and sales tax on marijuana sold at dispensaries.

Learn how to get an Illinois medical marijuana card.

Read more marijuana news.