Officials Say That Chicago Cannabis Taxes May Exceed 41% By Summer

For those looking to buy some legal weed in Chicago, be prepared for some sticker shock.

That’s because pot products there are larded with taxes. On Wednesday, the Cook County Board approved another one: a three percent tax on marijuana retailers, which will be tacked on to a bevy of other taxes already levied on the state’s nascent legal cannabis industry. 

As the Chicago Sun-Times reported, the latest three percent tax “would be in addition to the city’s 3% planned tax and state excise taxes of 10-25%, based on the level of THC, the ingredient in pot that gets users high, in the product purchased.” 

Pot products are also subject to a standard sales tax, which in Chicago comes out to a bit more than 10 percent. Taken together, that’s a potential 41 percent tax on marijuana products by this summer.

Larry Suffredin, a Democratic commissioner on the county board, argued in favor of the additional tax to compensate for “increases in emergency room and medical treatments because of interactions between the marijuana products and other drugs,” according to the Sun-Times. Suffredin also said that there had been an uptick in “the number of DUIs and the requirement of police

Read More Here…

Share on facebook
Share on twitter
Share on reddit
Share on pinterest
Share on email

 

Bud Digest

Scroll to Top