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New Jersey Governor Signs Law on Taxation of Medical Cannabis, Issuance of Permits

Aug. 15, 2019, 9:19 PM

The New Jersey Governor July 2 signed a law revising requirements to authorize and access medical cannabis for sales and use, and excise tax purposes. The law includes measures: 1) specifying that medical cannabis dispensed by a dispensary or clinical registrant shall not be subject to any sales and use tax, commencing July 1, 2022; 2) allowing a municipality in which a medical cannabis dispensary is located to adopt an ordinance imposing a transfer tax, not exceeding 2 percent of the purchase price, on any medical cannabis dispensed by the dispensary; 3) prohibiting entities issued medical cannabis cultivator, manufacturer, or ...