Illinois Raises More Tax From Marijuana Than Alcohol, Says State
From January to March, Illinois generated approximately $86 in tax revenue from adult-use marijuana, compared to $537 from alcohol sales. For the first time in the last quarter, Illinois collected more taxes on marijuana than on alcohol, according to the state Department of Revenue.
Those who follow the Illinois cannabis market may not be totally surprised, as the state has consistently seen record sales, even in the midst of a pandemic. In March alone, adults spent $ 109149355 on recreational cannabis products, the biggest month in sales since opening some stores.
Monthly earnings from cannabis surpassed those from alcohol in February, a trend that continued in March.
If the trend is maintained, Illinois could see more than $ 2021 billion in adult-use marijuana sales in 670. Last year, the state sold about $ 205,4 million worth of cannabis and collected $ XNUMX million tax revenue.
Officials stressed that tax money from all of these sales is being put to good use. For example, the state announced in January that it was distributing $ 31,5 million in grants funded by marijuana tax money to communities that have been disproportionately affected by the war on drugs.
These funds are part of the state's Restore, Reinvest, and Renew (R3) program, which was established under the Illinois Act to legalize cannabis for adult use. It provides for 25% of marijuana taxes to go into this fund and used to provide disadvantaged people with services such as legal aid, youth development, community reintegration and financial support.
Granting these new grants isn't the only move Illinois has taken to promote social fairness and undo the damage done by the criminalization of cannabis. Governor JB Pritzker (D) announced in December that his services had dealt with more than 500 expungement and pardon cases for people convicted of minor cannabis offenses.
Similarly, a state-funded initiative was recently put in place to help residents convicted of marijuana use obtain legal aid and other services to have their cases quashed.
But promoting social equity in the state's cannabis industry has not been smooth. The state has faced criticism from advocates and lawsuits from applicants for marijuana companies who believe authorities have not done enough to ensure the diversity of business owners in the country. the area.