If all goes according to Gov. Phil Murphy and state Senate President Stephen Sweeney's plans, marijuana would be taxed at a flat rate of $42 per ounce — no matter the value of the drug.
If legal weed costs $300 per ounce, that $42 tax is a 14 percent tax rate. If the price drops to $200, it's a 21 percent tax rate.
"It'll be very hard for the state to compete with the black market when, obviously, part of what they're trying to do here is create an income base through taxes," said Sayreville Police Chief John Zebrowski, a vice president of the state police chiefs' association who works with New Jersey Responsible Approaches to Marijuana Policy, the largest legal weed opposition group in the state.