June cannabis sales highest of year, 3rd highest ever for Illinois
Illinois dispensaries sold $136 million in marijuana during June, the highest of the year and third-best month ever for cannabis sales.
Illinois recorded over $136 million in recreational cannabis sales in June, the highest month of 2023 and the third highest ever.
While sales among in-state residents keeps ticking up, sales from out-of-state residents are nearly $6 million lower than June 2022.
Out-of-state sales likely have stunted growth now that Missouri has legalized recreational cannabis, charging the lowest excise tax in the nation.
Missouri sold $95 million of recreational cannabis in June for a state with about half of Illinois’ population. Instead of Missourians having to drive to Illinois for legal weed, Illinoisans are now likely the ones making the trip for lower taxes.
Illinoisans pay the second-highest taxes in the nation to buy recreational marijuana, which pushes consumers to other states and unregulated sellers. The most recent numbers from June 21 show fiscal year 2023 brought in $242 million in tax revenue.
Illinoisans who purchase medical marijuana pay only a 1% sales tax. While recreational sales have more than tripled since January 2020, medical sales have barely grown.
There would be less need for sin taxes and more revenue available for public services were state lawmakers committed to reforming pension spending, which has increased by 584% since 2000.
Total spending has grown by 21% in that time. Government employee insurance grew by 107% and PreK-12 education by 25% All other spending, including a range of core services relied upon by some of the state’s most vulnerable, have been cut by 20%.
High taxes will always be an issue as long as spending increases at an irresponsible and unsustainable rate.