Illinois' weed tax windfall tops $560 million. Here's where the money goes.
First-time recreational cannabis buyers often feel the sticker shock.
With hefty taxes, an eighth of an ounce of fresh cannabis flower typically costs around $80 -- far more than the price of black market weed.
But sales have continued to boom despite the sky-high taxes and prices, totaling over $1.9 billion since the drug was fully legalized last January. As a result, total tax collections on pot sales have now jumped to nearly $563 million. And since February, pot sales have brought in a whooping $100 million more in taxes than booze.
So where has that money gone?
• For the full story, visit chicago.suntimes.com.