If everything goes off without a hitch, it could be a boon for marijuana businesses and the state's tax coffers. The proposed bill includes a $42-per-ounce tax on marijuana, and it allows towns to collect a 3% tax from cannabis retailers, a 2% tax from cultivators, and a 1% tax from wholesalers. GreenWave's Karnes estimates New Jersey's medical marijuana sales were just $66 million in 2018, but legalization of recreational use could grow regulated marijuana sales to $750 million next year and to over $930 million in 2022. If he's on target, the potential growth could benefit dispensaries and greenhouse operators in the state, including Curaleaf, which has a 40% share of New Jersey's medical marijuana market already.
Will This Big State Be Next to Legalize Recreational Marijuana?
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