Marijuana

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New Jersey Getting Closer To Legalizing Marijuana

September 18, 2018 - 6:05 pm
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TRENTON, N.J. (WCBS 880) -- New Jersey is moving closer to legalizing marijuana.

As WCBS 880’s Steve Burns reported, the bill is being drafted behind closed doors in Trenton, but we now know it is very close to being done.

Scott Rudder of the New Jersey CannaBusiness Association spoke at a conference recently, and according to NorthJersey.com, Rudder said issues around marijuana legalization in the Garden State are 98 percent solved.

He said there is still one big roadblock though – taxes. Some lawmakers want to see a 25 percent tax on retail marijuana sales right from the start, while others want to see it ramp up over time.

In ramping up taxes over time, proponents say legal marijuana businesses will start out with a profit and help stamp out the black market.

There may also be an option for localities to collect their own tax, incentivizing places to open up their own retail pot shops.

Gov. Phil Murphy and Senate President Stephen Sweeney have said they fully expect legal marijuana to be a reality in New Jersey by the end of the year.