Illinois collected roughly $52.8 million in cannabis tax revenue during the first six months of legal adult-use sales, according to a Chicago Tribune report.
The state collected roughly $34.7 million in cannabis excise taxes and $18 million in sales taxes, the news outlet reported. A portion of the sales tax revenue will be shared with local governments, according to the Chicago Tribune, while about $25.9 million will be deposited into the state’s general fund, with a portion earmarked for reinvestment into communities impacted by the war on drugs.
The figures shatter Gov. J.B. Pritzker’s budget estimates, which predicted the state would collect $28 million in cannabis tax revenue by June 30, the news outlet reported.
Illinois’ cannabis sales surpassed $47 million in June, which set a new record for the highest monthly sales figures in the state.
Total adult-use cannabis sales have topped $239 million since sales launched Jan. 1, the Chicago Tribune reported.
