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 marijuana dispensaries were approved by the New Jersey Cannabis Regulatory Commission last week.
Updates as of May and June 2022:
- Recreational Cannabis in NJ Update – Medical Dispensaries No Longer Have a One-Year Waiting Period
- NJ Cannabis and the Social Equity Excise Fee – What is it, how often is it paid, and when is this “tax” due?
The 13 NJ dispensaries include:
Unlike other states that had a more broad-based approach when launching legal recreational marijuana sales, New Jersey’s technique has been a step-by-step process. Now that recreational growers and manufacturers are approved, and the first round of dispensaries have the green light for sales, standalone specialty stores will eventually follow after their state and local approvals. Down the line, newer medical dispensaries will eventually be able to sell to the public, but must remain medical-only for at least one year. (See recent update)
Once the state announced cannabis legalization and sales of recreational marijuana, many wondered about the tax income that sales would generate. Following is a graphic that illustrates the current anticipated cost of legal weed (depending on supply and demand) and the breakdown of taxes behind the purchase price.
Source: USA TODAY NETWORK analysis of Assembly Bill 21
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