Illinois: Urbana council gives initial approval for 3 percent sales tax on legal marijuana
Aldermen gave initial approval Monday to a measure enacting a 3 percent sales tax on recreational cannabis once it becomes legal on Jan. 1.
The unanimous vote with little discussion advanced the Municipal Cannabis Retailers’ Occupation Tax, which would affect NuMed, currently the city’s only dispensary. The vote followed last week’s public comment session, which saw 10 people voice their opinions on recreational cannabis sales in the city: seven for and three against.
NuMed Managing Member Keith McGinnis joined answered questions Monday on how the medical side of things will interact with recreational sales. McGinnis said it comes down to taxes, as medical sales are currently only taxed at state and federal rates.
Medical and recreational customers will get the same products but pay a different price. McGinnis said the sales experience might be different, too.