With the growth of the recreational marijuana market in New Jersey, fees and regulations are constantly changing. While medical marijuana does not require a social capital excise tax, recreational marijuana does. Beginning January 1, 2023, this fee increases from $1.10 to $1.52 per ounce of cannabis. It is paid for every ounce of recreational marijuana sold by Class 1 license holders—those who grow marijuana.
People in the cannabis industry are licensed through Cannabis Regulatory Commission. New Jersey is one of 21 states where adult marijuana is legally available.
“Since adult cannabis became legal in our state in 2021, the New Jersey Cannabis Regulatory Commission has created a well-regulated adult cannabis market that has catalyzed economic growth in our local communities and established minimum standards for safe products.” Gov. Phil Murphy said in a statement. “But like many other products, cannabis is not immune to the ongoing illegal market, which poses serious risks to consumers.”
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