PHOTO COURTESY: AWH
As several states face troubling COVID-related budget deficits and long-term financial challenges, one state in particular is leaning into a relatively new source of tax revenue to offset ongoing economic contractions. Despite only legalizing adult-use cannabis at the end of last year, Illinois has already experienced enormous commercial success since retail sales started on January 1. In total, Illinois dispensaries have generated over $300 million in recreational sales this year and $52 million in tax revenue within the first six months of operation.
