I see this tax is quite heavy, more than the name 'penny-per-ounce' suggests.
As one example, a 2-liter bottle, which usually costs about $1, will incur a 67-cent soda tax.
Bigger news is that Illinois may be insolvent soon, so expect more tax raises.
http://www.cbsnews.com/news/could-illinois-be-the-first-state-to-file-for-bankruptcy/