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Illinois Tax Revenue From Cannabis Surges by 50% in a Year

July 25, 2022, 9:02 PM

Illinois’s tax revenue from marijuana product sales jumped 50% to $445.3 million for its fiscal year ending June 30, up from $297.7 million in the prior fiscal year, Gov. J.B. Pritzker announced Monday.

Cities and counties also benefited from the state’s adult-use cannabis program, Pritzker said. Disbursements to local units of government rocketed 77%, rising from $82.8 million in fiscal 2021 to $146.2 million last year. The revenue surge follows a 50% increase in total sales of cannabis in Illinois, which topped $1.5 billion for 2022. Adult-use cannabis became legal on Jan. 1, 2020. Fiscal year 2022 marked the ...