Marijuana Business Factbook 2019

Marijuana Business Factbook 2019 Chapter 2 | State-By-State: Legal Overview, Market Data and Outlook 74 © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. BUSINESS TAXES & FEES Application Fees Existing MMJ dispensary applying for rec license: $30,000 Existing MMJ cultivation center applying for rec license: $100,000 Retailer: $5,000 Craft grower: $5,000 Infuser: $5,000 Transporting organization: $5,000 License Fees Existing MMJ dispensary applying for rec license: First license is subject to cannabis business development fund fee of 3% of total sales between 6/1/18 and 6/1/19 or $100,000, whichever is less. Second license is subject to cannabis business development fund fee of $200,000 Existing MMJ cultivation center applying for rec license: Cannabis business development fund fee of 5% of total sales between 6/1/18 and 6/1/19 or $750,000, whichever is less, but not less than $250,000 Retailer: $60,000 Craft grower: $40,000 Infuser: $5,000 Transporting organization: $10,000 Capital requirements Dispensing organizations required to maintain escrow or surety account in the amount of $50,000 State tax requirements 7% excise tax on first wholesale sale, state sales tax of 6.25%. Additional excise tax applied based on product form and potency: – Cannabis with a THC level at or below 35%: 10% of the purchase price – All cannabis infused products: 20% of the purchase price – Cannabis with a THC level above 35%: 25% of the purchase price State tax collections in 2018 None―sales began in 2020 ILLINOIS Recreational continued