IDOR releases draft administrative rules for cannabis taxes
The Illinois Department of Revenue (IDOR) today released draft administrative rules related to cannabis taxes. In the latest issue of the Illinois Register, the new proposed and adopted rules mainly address the Cannabis Cultivation Privilege Tax for certain types of transactions between licensed cannabis cultivators and licensed cannabis infusers.
These new rulemakings provide for additional record keeping requirements for infuser organizations that process cannabis and cannabis-infused products on behalf of cannabis cultivators. The rulemakings also address the tax treatment of cannabis and cannabis concentrate transferred from cannabis cultivators to cannabis infusers to be processed into cannabis-infused products on behalf of cannabis cultivators.
Other items addressed in the Cannabis Cultivation Privilege Tax section included, definitions, tax imposed, returns and payment of tax, infuser information returns and books and records, registration of cultivators, revocation of certificate of registration, books and records, invoices issued by a cultivator, penalties and interest, and administration and enforcement. Persons who wish to submit comments on this proposed rulemaking may submit them in writing by no later than 45 days after publication of this notice to:
Alexis K. Overstreet
Deputy General Counsel
Sale and Excise Taxes,
Illinois Department of Revenue,
Legal Services Office,
101 West Jefferson,
Springfield, Illinois 62794
(217) 782-2844
REV.GCO@illinois.go
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