Legal weed prices in Chicago to increase as Cook County wants 3% cut
Fri. January 17, 2020 11:54 AM by GoPride.com News Staff
Taxes on some recreational marijuana products will be more than 40% in Chicago starting this summer
Chicago, IL -
Buying legal weed in Cook County is about to get even more expensive.
The County Board of Commissioners on Thursday approved a 3% tax on recreational marijuana sales. The county's new tax will take effect July 1.
The new tax is on top of Chicago's 3% tax, the state's varying levels of taxation and all regularly-applied sales taxes.
By the time all taxes are figured in, high-THC pot in Chicago will be taxed at a total of 41.25%.
Of the 11 states where recreational marijuana has been legalized, Illinois' taxes are second only to the state of Washington.
Medical marijuana would be exempted from the county's tax. Medical marijuana patients would still be subject only to a 1% state tax.
In the first 12 days of legalized recreational marijuana use across Illinois, state officials say 495,385 transactions were processed for a total of more than $19.7 million dollars in sales.
The County Board of Commissioners on Thursday approved a 3% tax on recreational marijuana sales. The county's new tax will take effect July 1.
The new tax is on top of Chicago's 3% tax, the state's varying levels of taxation and all regularly-applied sales taxes.
By the time all taxes are figured in, high-THC pot in Chicago will be taxed at a total of 41.25%.
Of the 11 states where recreational marijuana has been legalized, Illinois' taxes are second only to the state of Washington.
Medical marijuana would be exempted from the county's tax. Medical marijuana patients would still be subject only to a 1% state tax.
In the first 12 days of legalized recreational marijuana use across Illinois, state officials say 495,385 transactions were processed for a total of more than $19.7 million dollars in sales.