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NJ lawmakers advance bill setting up marijuana marketplace

Marijuana
Posted at 4:31 PM, Nov 19, 2020
and last updated 2020-11-19 16:31:06-05

TRENTON, N.J. — New Jersey lawmakers have advanced legislation to establish a new recreational marijuana marketplace, which voters overwhelmingly approved on the ballot earlier this month.

The Assembly Appropriations Committee on Thursday passed the measure, and the Senate Budget Committee is set to take up the legislation later in the day.

Lawmakers have amended the measure since it stalled last week. Among the key changes in the bill are the addition of an excise tax, which applies to specific goods or services and which consumers ultimately pay.

The bill calls for a tax of one-third of 1% on marijuana sales.

The state’s sales tax of more than 6.6% will also apply.