Thursday, September 28, 2023

Illinois has garnered $175 million from Cannabis tax

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Some good news and some bad news. Illinois legalized Medical Marijuana last year, and since then has collected a large sum of money from the taxes. That’s the good news.

Bad news is there is $62 million of that sum that is supposed to be given back to low income communities which the state still hasn’t spent. This comes down to a lot of factors, most of them being due to the fact that the system is new and overrun with requests for new business licenses. Hopefully this is something that can be solved within the coming months.

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