Illinois consumers pay the second highest taxes in the nation when they buy legal recreational cannabis, but an industry expert says sales may increase with lower taxes.
According to the website Headset, the average item price in Illinois is currently 89% higher than the rest of the U.S. market. With a tax of over 31%, only the state of Washington is higher.
"Illinois' average item price is 46% higher at $33.82 than the second highest Massachusetts and has a 36% higher price per gram ahead of Nevada," the report found.
Amanda Reiman with the cannabis analytics company New Frontier Data said if Illinois lowered the taxes on cannabis, it may attract more sales and keep their core consumers.
"I want these consumers especially to be using the regulated market because they're spending more, and they're buying more than somebody who is maybe buying once or twice a year," Reiman told The Center Square.
Read more at advantagenews.com