Patch.com write…..NJ Advance Media, The Asbury Park Press and the New Jersey Globe stated the governor and legislative leaders resolved their variations on the significant sticking point in negotiations: how to tax marijuana as soon as it is legalized.
Below the agreement, the state would impose a flat tax price of $42 per ounce of marijuana alternatively of levying a sales tax on pot, according to an NJ Advance Media report.
The Asbury Park Press says it implies marijuana customers will spend the exact same tax price no matter what: $42 for an ounce, $21 for a half-ounce, $10.50 for a quarter-ounce or $five.25 for an eighth-ounce.
A New Jersey marijuana legalization bill that was sophisticated by Assembly and Senate commitees in the fall integrated a 12 % sales tax.
The Senate Spending budget and Appropriations Committee vote was 7-four in favor, even though the Assembly Appropriations Committee voted 7-three to advance the bill. The move was considerable mainly because New Jersey had planned a complete Legislature vote by Oct. 29, but continued disagreement more than the legislation delayed it.
The “Marijuana Legalization Act” would let customers 21 years old and up to possess up to an ounce of pot.
Conflicts more than how considerably marijuana must be taxed – amongst other problems – have impeded the legislation’s progress. Sweeney has stated that the tax must be no far more than 12 %.
Study far more: NJ Lawmakers Make Significant Selection On Marijuana Legalization