by Amy Wilding-Fox
New Jersey opened its first recreational dispensaries on April 21st. Medical marijuana became legal in in the state in 2010. Recreational marijuana for adults over 21 was signed into law in early 2021 after a lost vote in 2018. It is estimated the state will gain $300 million a year in sales tax revenue with the 25 percent tax.
On April 21st 13 dispensaries opened their doors for their first recreational sales with some reporting customers waiting overnight.
Governor Phil Murphy wrote on Twitter on 4/20 “Tomorrow, recreational adult-use cannabis sales will begin in New Jersey. This new industry will be an engine of economic growth for our state, and play a critical role in our efforts to ensure economic and social equity.”
Priority for the opening of dispensaries will be given to those who are economically disadvantaged, diverse business owners, and owners who live in municipalities with a high unemployment rate and high rate of crimes related to marijuana. Municipalities will have the right to set laws in place such as to allow amounts of cannabis businesses in their locations, set hours and placement restrictions, and collect a 2 percent tax on the weed. Almost 71 percent of New Jersey municipalities, including Princeton, have denied dispensaries from opening. These districts are allowed to opt in at any time.
The is still illegal to grow pot in New Jersey.
View this article on our website.
