Take the toilet off, clean up the wax, then set it back down temporarily to see if it reaches the floor. If, as mentioned, the flange sits too high (it should be firmly anchored to the finished floor with no gaps under it), then that will have to be fixed first. Otherwise, figure out where you need shims - pennies, etc. work, or you can use other things, and then reinstall with a new wax ring. When finished, it must not rock or you will compromise the seal.