New Jersey Governor Looks to Legal States to Estimate Cannabis Revenue
“We examined other states that already have a legalized mechanism in place and took a conservative estimate based on the revenue they generated in Year One of legalization, keeping in mind that there are differences in the various tax mechanisms and the size and nature of these markets,” said Treasury spokeswoman Jennifer Sciortino.
Murphy’s budget proposal, which the Democratic former Goldman Sachs executive unveiled last week, calls for legalized cannabis by January, but lawmakers are taking a cautious approach.