Illinois earns $1.1M in tax revenue first day of recreational pot sales

Illinois earns .1M in tax revenue first day of recreational pot sales

 If the average tax on Illinois’ recreational cannabis is 35 percent, based off the first day of sales, taxpayers paid more than $1.1 million for the privilege. Legal pot sales began Wednesday in Illinois. The governor’s cannabis control leader, former state Sen. Toi Hutchinson, D-Olympia Fields, said there were 77,128 transactions in the first day. “It was $3,176,256.71 in sales and for me that means there’s a significant chuck that’s going right back into the communities,” Hutchinson said. “So for me, I’m excited about all of it.” The Illinois Department of Revenue said they won’t have the total tax revenue from cannabis sales for a few more weeks More at  https://www.thetelegraph.com/news/article/State-earns-1-1M-in-tax-revenue-first-day-of-14947433.php

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Source : CANNANNEW REPORT
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