October 13, 2022
Associate Partner, Ren Cicalese III, was interviewed and quoted for the New Jersey 101.5 radio segment and news article, “How Marijuana Purchases Are Taxed in New Jersey”.
In the article, he says…
“Generally speaking, the prices that are promoted for the cannabis are just gross price before any taxes,” said Ren Cicalese, an associate partner with Alloy Silverstein, an accountants and advisors firm in New Jersey.
This fee is not something you’d see on your receipt at a dispensary, but it could be built into the price you pay, Cicalese said.
The fee, which raises funds for investments in areas of New Jersey that have been harmed the most by the war on drugs, is charged by a cannabis cultivator when their product is sold or transferred to another entity.
“Businesses may ultimately pass it on to consumers, but it’s not a direct tax,” Cicalese said.
Follow New Jersey 101.5 on Twitter at @nj1015 for more information regarding New Jersey cannabis and business news. Click here to continue reading the full article →
Ren III discusses cannabis taxes in more detail in our Cannabis Taxes in New Jersey article. View our latest Cannabis and Marijuana related content in Alloy Silverstein’s Resource Center.
