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April 20, 2022 | Posted in:

New Jersey Legal Weed Sales to Begin on April 21

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:

 

Permitted Retail Sales as of April 2022

The 13 NJ dispensaries include:

  • The Botanist by CCF, Egg Harbor Township (Acreage Holdings)
  • The Botanist by CCF, Williamstown (Monroe), (Acreage Holdings)
  • Ascend New Jersey, Rochelle Park
  • Columbia Care, Vineland
  • The Cannabist, Deptford (Columbia Care)
  • Curaleaf, Bellmawr
  • Curaleaf, Edgewater Park
  • RISE Dispensaries, Paterson
  • RISE Dispensaries, Bloomfield
  • The Apothecarium, Maplewood (TerrAscend)
  • The Apothecarium, Phillipsburg (TerrAscend)
  • Zen Leaf, Elizabeth (Verano Holdings)
  • Zen Leaf, Lawrence (Verano Holdings)

 

Going Forward

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)

 

Marijuana Prices and Taxation

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

 

Cannabis Business Advisory

The emerging cannabis market has been hot in the state of New Jersey. Owners and applicants need to be thorough with their licenses, operations, financials, and taxes. Partner with an accounting and advisory firm that can guide you from startup to thriving business. We are here to help you reach your business goals. Contact Alloy Silverstein today.

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