New Jersey’s Gov. Phil Murphy, a Democrat from New Jersey, said in his budget address last week that he would like to raise the tax on cannabis to 15 cents per ounce. This will fund social service and violence-intervention programs. New Jersey Monitor reports. Reports.Â
The tax – a social equity excise fee – is paid by cultivators and is used to fund social equity programs and investing in communities hurt by cannabis prohibition; another portion is used to fund programs to divert youth from cannabis use. The tax has brought in $6 million by August 2024 but the amount is expected to rise. Unspent. According to the budget plan of the Governor, raising the tax will generate an extra $70 millions in revenues.
Murphy’s proposal would also extend the tax to include intoxicating hemp products like delta-8 and delta-10 THC products.Â
Senate President Nicholas Scutari is against the plan. Scutari notes that New Jersey’s legal marijuana dispensaries already struggle to compete in the market. Oxford Treatment Center The following are some of the most effective ways to increase your ROI:A licensed cannabis seller will charge you about $321.50 for one ounce.Â
Receive daily updates on the cannabis industry. Subscribe
MEDACAN24 was made possible through our partners.
Cannabis Law Resources for Poland
Discover essential legal information about the cultivation of cannabis, its sale, and regulations governing medical products in Poland. These guides will help you understand the legal requirements, such as certification, licensing, and other compliance issues.
-
Polish News Registration and Interests of Cannabis Businesses
-
Permissions for Cannabis Sales in Poland
-
Authorization for Importing or Manufacturing Medical Products
-
Permission for Manufacturing or Importing Medical Products
-
Certificate of Good Manufacturing Practices (GMP)
-
Registration of Medical Products in Poland