In Illinois, over $170 million worth of marijuana and marijuana products were sold through legal outlets.
According to data released by the Illinois Cannabis Regulation Oversight Officer, a total of $170.9 million in marijuana was sold in August, with $147.4 million in recreational sales and $23.5 million in medical sales. This is around $3 million more than the previous month, and around $5 million more than the previous August.
Of the recreational marijuana sold in August, $33.1 million was purchased by out-of-state visitors, while Illinois residents accounted for $114.3 million in sales.
The year-to-date total for marijuana sales in Illinois is now nearly $1.4 billon, resulting in over $250 million in tax revenue.
The average price per gram of dried marijuana continued to drop, and is now below $9 at $8.81. Marijuana concentrate prices also dropped, now averaging $55 per gram.
Illinois legalized marijuana in 2019. The law allows those aged 21 and older to purchase up to 30 grams of dried marijuana, 5 grams of marijuana concentrates, and up to 500 milligrams of THC in marijuana-infused products if they reside in the state. Non-residents are allowed to possess half these amounts.
The tax rate for marijuana ranges from 10% to 25% depending on the product. This is in addition to the state’s 6.25% sales tax, along with local taxes of up to 3.5%.
After covering the costs of running the state’s marijuana program, tax revenue is distributed as follows:
- 35% to the General Revenue Fund
- 25% to the Recover, Reinvest, and Renew (3R) Program
- 20% to mental health services and substance abuse programs
- 10% to pay unpaid bills
- 10% to the Local Government Distributive Fund, for prevention and training for law enforcement
- 2% to public education and safety campaigns
