Municipalities in Illinois will get their first sales tax revenue from the state’s recreational marijuana program on July 1, 2020, under legislation signed by Gov. J.B. Pritzker Dec. 4.
Pritzker signed S.B. 1557, which modifies features of an earlier law (H.B. 1438) that made Illinois the 11th state to approve adult use cannabis. The original law permitted sales to start on Jan. 1, 2020, but it included a drafting glitch that would have prevented municipalities from collecting the municipal cannabis retailers’ occupation tax until Sept. 1, 2020. The new law moves up the collection date by two ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.