420 with CNW – Additional Taxes Could Make Illinois Recreational Weed a Lot More Expensive

Marijuana customers in Illinois are in for a price shock come July 1 this year as new taxes take effect. Currently, in Illinois, marijuana sales are being subjected to state and local taxes, plus an additional state marijuana excise tax, which has increased the overall tax rate from 20.25% to 35.25% in the municipalities and counties. This also depends on the potency of marijuana being sold.

The cities and counties in the state are yet to start imposing local weed taxes, which is 3 percent each, and this could drive up the overall tax rate to 41.25%. Of the 11 states where adult-use marijuana is legal, Washington is the only state whose…


About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW420? Ask our Editor

Denver, Colorado
303.498.7722 Office

CNW420 is part of the InvestorBrandNetwork.

Leave a Reply