Illinois recreational marijuana sales reach new records in 2023, report finds
Adult-use cannabis sales topped $1.6 billion in 2023 according to a report from the Illinois Department of Financial and Professional Regulation — the largest amount since legalization in 2020.
Driving the increase last year was the more than 42 million recreational marijuana products sold, a 15% increase from 2022. Illinois residents purchased $1.2 billion last year, while the $408 million sold to out-of-state customers represented a drop from the prior year. State authorities attributed the decrease to legalization in neighboring states such as Michigan and Missouri.
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The state also collected $417.6 million in sales tax revenue according to the Illinois Department of Revenue. The money goes to the Cannabis Regulation Fund and state agencies that administer the program. All cannabis sales are subject to a 6.25% state retailers' occupation tax in addition to taxes levied at the municipal and county levels.
“From day one, my administration has put equity first to build the most accessible cannabis industry in the nation,” said Gov. JB Pritzker in a statement. “Our work will continue to repair past harm while providing opportunities for communities across the state and creating a more prosperous future.”
A total of 177 adult-use cannabis dispensaries operate in the state, including five in the Springfield area.
Located at 3600 S. 6th Street Road, Share opened its doors in September and is joined by two Ascend Cannabis locations, one in downtown Springfield and another off of Dirksen Parkway, and Maribis with its two locations on Lindbergh Drive and Denver Drive.
Springfield City Council also approved the permits for two new locations in 2023, set to open in the new year. The Maywood-based Bolden Investments III will run one store in Prairie Crossing where a former Steak n' Shake is being renovated. Shangri La will build a facility on a vacant lot along Dirksen Parkway.
Contact Patrick M. Keck: 312-549-9340, pkeck@gannett.com, twitter.com/@pkeckreporter.
This article originally appeared on State Journal-Register: Illinois brings in $417 million in tax revenue from cannabis sales
