Cannabis tax rate changes effective January 1, 2024 in Illinois

Chau Nguyen Tax Attorney | Official Website

By Prairie State Wire

Oct 27, 2023

Certain taxing jurisdictions in Illinois will impose or adjust their Municipal or County Cannabis Retailers’ Occupation Tax starting January 1, 2024. This change affects the gross receipts from sales of adult-use cannabis as per the legal references 65 ILCS 5/8-11-23 and 55 ILCS 5/5-1006.8.

These changes have been made through ordinances passed by the respective jurisdictions.

For more detailed information on these tax rate changes, refer to FY 2024-07.

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Illinois Department of Revenue

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