NJ: New Brunswick sets tax rates for recreational cannabis businesses
City Council members last week introduced an ordinance setting tax rates at 1 percent for wholesalers and 2 percent for other cannabis classes.
The ordinance is scheduled to come for a public hearing and final vote at the City Council’s 5:30 p.m. meeting on April 6 at City Hall, 78 Bayard St., New Brunswick.
Under the ordinance, cannabis cultivators, manufacturers and retailers will be taxed at 2 percent of the receipts from each sale and cannabis wholesalers will be taxed at one percent of the receipts from each sale, according to a public notice.