Illinois Recreational Marijuana Prices and Taxes
Illinois will be no different than any other state that has legalized recreational weed use, when it comes to prices. Prices will be higher than normal.
Like just about any goods (and services) we buy, you get the quality you pay for. There are only 27 licensed dispensaries in the state of Illinois that have been approved to sell on the day recreational marijuana use becomes legal. the crew at Leafly.com have done a lot of work to get Illinoisans ready for 1/1/20.
Eighth-ounces of dried cured flower buds will go for $50-$60 plus tax, according to leafly.com. Experts do predict those prices to come down within the first few months of legal sale. It is also predicted that Illinois’ legal marijuana market could total $2 billion per year.
On average, taxes are about 30% and go up for products with more THC. All adult-use products are subject to the state’s 6.75% sales tax. On top of that, expect:
- 10% cannabis purchaser tax for products that consist of up to 35% THC
- 20% purchaser tax on edibles that are more than 35% THC
- 25% purchaser tax on extracts more than than 35% THC
- Local city taxes up to 3%; or local county taxes up to 3.75%
[source : Leafly.com]