SPRINGFIELD, Ill. (WTVO) — The Illinois Department of Revenue announced Monday that the state had generated over $10 million in revenue from recreational marijuana sales in the first month since the drug went legal on January 1st, 2020.
The Department of Revenue said $7,332,058 came from cannabis tax revenue, with another $3,147,928 from retail sales tax revenue.
The State had initially expected to collect $28 million during the remainder of the fiscal year, which ends on June 30th, 2020, and now says it is on track to surpass that estimate.
Forty-five percent of cannabis tax revenue is earmarked to be reinvested in “communities disproportionately impacted by the failed war on drugs” and will fund substance abuse and mental health programs.
The retail sales tax revenue will be divided between the general revenue fund and local governments where purchases were made.
Earlier this month, the State announced that over $39 million of recreational marijuana was sold at retail stores.
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