In Illinois’ first month of recreational marijuana sales it generated $10 million in tax revenue. Despite some growing pains, the state still surpassed Governor Pritzker’s estimates. There are two taxes associated with recreational marijuana sales: a cannabis tax and sales tax.
With both taxes combined, the total was $10.4 million dollars in total taxes generated, The Chicago Tribune reported. By June 30, Governor Pritzker’s budget estimates that the state should take in at least $28 million in marijuana tax revenue. By January’s numbers alone, Illinois is positioned to surpass these estimates.
Some dispensaries are only open to recreational marijuana consumers a few days a week and only for a few hours at a time due to supply shortages. Other dispensaries are limiting the amount of marijuana that recreational users can purchase.
The state is estimating that shortages of recreational marijuana could last up to a year. Cultivation facilities are in the process of expanding to satisfy demand.
In Illinois, taxes are collected on sales as well as a 7% tax imposed on cultivators for their sales to dispensaries.