Illinois

Market Map

Illinois
Cannabis Market

Illinois Cannabis Market At-A-Glance

Overall Rating: C

The Illinois cannabis market has been doing phenomenal after topping 1 billion in sales during the tumultuous year of 2020. It is projected to continue growing in the next couple years. Monthly sales have been steadily outperforming the previous month’s sales.

Medical Use: Yes

Adult Use: Yes

Market Potential

There is currently a cap on dispensary and cultivation licenses. This inhibits more business from entering the market.

Licensing

C-

The cultivation and retail licenses are very expensive along with the annual fees.

Competition

The competition in Illinois is very strong for the cannabis industry.

Tax/Regulatory Structure

The taxes are rather high. Different types of cannabis products receive different taxes.

Illinois Cannabis Details

Population (Rank)

12,670,000

Size/Density

222.5 sq. miles

#12

Medical Cannabis?

Yes

2019

Adult-Use Cannabis?

Yes

2019

2020 Medical Sales

2022 Projected Medical Sales

$146,000,000

$400,000,000

+174%

2020 Adult Use Sales

NA Projected Adult Use Sales

2022

Regulatory Agency

Illinois Medical Cannabis Pilot Program

https://www.idfpr.com/ILCannabis.asp

# of Dispensaries (allowed/issued)

# of Cultivators (allowed/issued)

# of Manufacturers (allowed/issued)

Must be tied to cultivation

# of Testing Labs (allowed/issued)

No limit

Vertical Integration?

Not allowed

Residency Requirements?

No – Illinois residents will get priority

Social Equity?

Yes

Cannabis Taxes

Combined Tax Rate

16–35%

Excise Tax

Food/Beverage 20%

Retail Sales Tax

Greater than 35% THC – 25% | 35% or Less THC Products – 10%

Local Sales Tax

Up to 3%

State Sales Tax

6.5%

Cultivation Tax

None

Licensing Fees (per year)
^{*Varies based on gross revenue}

Dispensary (fee | annual renewal)

$30,000 | $25,000

Cultivation (fee | annual renewal)

$200,000 | $100,000

Application Fees

Dispensary

$5,000

Cultivation

$25,000

10/09/2021