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Illinois marijuana dispensaries set record for sales in May

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Illinois marijuana dispensaries recorded their best month of sales collectively in May after more than $44.3 million was spent on products last month.

The Illinois Department of Financial and Professional Regulation said Illinois residents spent $34.1 million on recreational marijuana, while out-of-state buyers spent $10.2 million.

        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        

Almost 1 million products were purchased, according to the state. The average sale in May was $44.80.

May’s sales figures outpaced January’s sales by more than $5 million.

Adult-use recreational marijuana sales became legal in January and lines formed around many of the dispensaries throughout the state on the opening day of sales.

Earlier this month, the state reported it has received more than $40 million in marijuana taxes and associated sales tax revenue from the legalization of recreational marijuana in the first four months of operation. Tax revenue figures from May won’t be available until early July.

Also, municipalities that have allowed dispensaries to open in their jurisdiction can begin charging local taxes next month as well.

Marijuana dispensaries were allowed to stay open as essential businesses since the COVID-19 state of emergency was declared while many other businesses were shuttered throughout the state.

Source: https://mmpconnect.com/illinois-marijuana-dispensaries-set-record-for-sales-in-may/

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