Illinois could have realized an additional $600 million in revenue from recreational marijuana sales, according to an analysis by the Illinois Policy Institute.
The group said it found a complicated tax system and restrictive licensing has cut into the state's revenue stream. In 2021, Illinois took in $317 million from cannabis taxes despite the demand for the product due to the pandemic.
Illinois lawmakers had projected in 2019 that revenue could produce $440 million to $676 million in annual tax revenue. The number of dispensary licenses has also been a problem.
Original author: Cannabis News