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 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.