In Illinois, legal marijuana sales topped $160 million in October, an increase from the previous month.
In October, licensed marijuana stores sold $164.4 million worth of marijuana and marijuana products, including concentrates, edibles, tinctures and topicals, according to the Illinois Cannabis Regulation Oversight Officer. This is a noticeable increase from the $158 million sold in September.
Of the $164 million in marijuana sold in October, $142.2 million came from recreational consumers, with $22.2 million purchased by medical marijuana patients. 78% of the recreational marijuana purchased came from Illinois residents, with 22% coming from those living outside the state.
Marijuana prices in Illinois again reached a new low, with the average cost per gram of fried flower at $8.67 per gram as of October 31, and the price of concentrates $53.88.
Illinois legalized marijuana in 2019, allowing those 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. Non-residents are allowed to possess half these amounts. The tax rate on marijuana products varies between 10% and 25%, depending on the type of product, and is supplemented by the state’s 6.25% sales tax and local taxes of up to 3.5%.
Revenue from marijuana taxes, after covering the costs of running the state’s marijuana program, is allocated to various initiatives. 35% goes to the General Revenue Fund, 25% supports the Recover, Reinvest, and Renew (3R) Program, and 20% is directed to mental health services and substance abuse programs. An additional 10% is used to pay unpaid bills, another 10% is allocated to the Local Government Distributive Fund for law enforcement training and prevention efforts, and 2% funds public education and safety campaigns.
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