Cannabis dispensaries in Jo Daviess County are bringing in substantial sums for the Illinois cities in which they operate, according to city officials.

Verilife, a recreational marijuana dispensary in Galena, opened in March, while The Dispensary opened in East Dubuque in May.

Both cities receive tax revenue from the dispensaries, including regular sales tax and an additional 3% excise tax enacted by each community’s City Council.

Previously, city officials had been unable to reveal their takings in cannabis tax revenue, because only one dispensary is operating in each city. If the city released the revenue, citizens could calculate that dispensary’s total sales, violating the company’s right to keep its sales private.

However, The Dispensary recently granted East Dubuque city officials permission to reveal the cannabis tax revenue.

For sales in July, the most recent month for which the city has received funds, East Dubuque collected $18,719 in tax revenue from The Dispensary. That represents almost $625,000 in sales in that month at the business.

“No matter what your personal or social feelings about marijuana, the revenue is definitely beneficial for the city of East Dubuque,” said City Manager Loras Herrig.

City officials in Galena still cannot reveal the exact tax revenue from sales at Verilife.

However, Galena

Read More Here…

Share on facebook
Share on twitter
Share on reddit
Share on pinterest
Share on email

Bud Digest