What will I pay in taxes?
The price of an ounce of cannabis will fluctuate, like any commodity.
But the actual tax paid by New Jersey consumers will fluctuate as well. If the average price per ounce is $350 or more, you can expect to pay $41.50 in taxes, a markup of about 12%, including a $10 social justice excise fee.
As the industry grows, the price of cannabis will likely drop. The sales tax and municipal tax rates will stay the same, but that excise fee will actually increase, ensuring that tax revenue still flows — specifically to communities of color — even if the price sinks.
So if the price of cannabis were to dip to $150 per ounce, you'd wind up paying $73.50 in taxes, including a $60 social justice excise fee.