Recreational Marijuana Sales Reach $10M in Tax Revenue for January

Recreational Marijuana Sales Reach $10M in Tax Revenue for January

SPRINGFIELD (AP) – The Illinois Department of Revenue announced Monday adult-use cannabis sales generated $7,332,058 in cannabis tax revenue during the month of January, with an additional $3,147,928.29 generated in retail sales tax revenue.

The state generated a total of nearly $40 million in marijuana sales in January.

Toi Hutchinson, Senior Advisor to Governor Pritzker for Cannabis Control, said the sales mark another milestone in the successful launch of Illinois’ legal cannabis industry. He said the goal has been to build the nation’s most socially equitable program, which includes new opportunities for the communities most harmed by the “failed” war on drugs.

Revenue raised in January will soon flow back into those communities to begin repairing “the damage done by the failed policies of the past and creating new opportunities for those who have been left behind for far too long,” according to Hutchison.

Last week, Governor J.B. Pritzker released his 2021 fiscal year budget, which projected cannabis sales would generate $28 million in cannabis tax revenue for the remainder of Fiscal Year 2020 (ending June 30, 2020).

Monday‘s announcement puts the state on track to surpass that estimate, according to the Illinois Department of Revenue.