Lege TREND. Taxing Marijuana. 25% sales tax proposed. Revenue. Revenue. Revenue.

New Jersey Legislature is considering S3195 & A4872    to legalize and tax marijuana. 

The bill will create a sliding sales tax of:

• 7% to 25% over 5 years to encourage early participation

Other regulatory and enforcmement provisions are:

• Permit those 21 and older to possess up to 1 ounce of marijuana, 16 ounces of marijuana-infused products in solids, 72 ounces in liquid form and 7 grams of concentrate
• Prohibit home cultivation
• Create the  Division of Marijuana Enforcement to regulate the industry

Corresponding legislation dedicates the a portion of the revenue to medical treatment and research.

Burlington County Times | Millionaires’ tax, marijuana, minimum wage atop agenda for New Jersey Legislature