May 10, 2023
On May 8, 2023, New Jersey Governor Phil Murphy officially signed legislation that effectively decouples state tax provisions from the federal prohibition on cannabis business deductions beginning with the 2023 tax year. The bills, A-3946/S-340,…
Read More...December 30, 2022
As of January 1, 2023, the Social Equity Excise Fee (SEEF) increases to $1.52 per ounce of cannabis. This adjustment is up from $1.10 per ounce in 2022. The SEEF is due on each usable…
Read More...October 31, 2022
In addition to obtaining a license and real estate, one more hurdle faced by cannabis business owners is complying with Section 280E of the Internal Revenue Code. Update as of May 2023: New Jersey has…
Read More...October 10, 2022
On October 6, 2022, Alloy Silverstein Accountants and Advisors hosted a virtual panel discussion with some of the top industry leaders and advisors of cannabis in New Jersey, featuring special guest Commissioner Krista Nash of…
Read More...July 15, 2022
As of April 2022, cannabis sales have become legal for recreational and medical use for anyone 21 years and older in New Jersey. Most proponents of legalization tout the benefits of a strong revenue stream…
Read More...June 01, 2022
Recreational Cannabis in New Jersey A little over a month after the start of recreational cannabis sales in New Jersey, another round of cannabis retailers has been approved. The New Jersey Cannabis Regulatory Commission approved…
Read More...May 20, 2022
New Jersey is now one month into legal retail sales of cannabis, which means it’s time for the first reminder of the monthly tax deadline for cannabis business owners: the Social Equity Excise fee and…
Read More...April 20, 2022
Starting April 21, 2022, adults over the age of 21 years-old can purchase up to 1 ounce of legal marijuana for personal and recreational use at certain approved facilities throughout the state. Thirteen currently-operating medical…
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