Cannabis sales generate $10 million revenue for Illinois

Illinois state Rep. Kelly Cassidy, D-Chicago, throws her fist in the air as she celebrates with Illinois state Senator Heather Steans, D-Chicago, left, and Rep. Jehan Gordon-Booth, D-Peoria, as they watch the final votes come in for their bill to legalize recreational marijuana use in the Illinois House chambers Friday, May 31, 2019. (Ted Schurter/The State Journal-Register via AP)

Adult-use cannabis sales generated more than $10 million in revenue in January, according to the Illinois Department of Revenue.

Sales brought $7.3 million in cannabis tax revenue as well as $3.1 million in retail sales tax revenue.

Gov. J.B. Pritzker’s budget estimated the state would collect $28 million in tax revenue during the remainder of the fiscal year, which ends June 30. The governor’s office projects current revenue puts the state on track to surpass that estimate.

After administrative fees are accounted for, 45% of the cannabis tax revenue will be invested in communities determined to be disproportionately impacted by cannabis enforcement. Sales tax revenue will be divided between the state’s general revenue fund and the municipal governments where sales were made.

Marco Cartolano