Center for New Revenue Tax of the Year: New Jersey

Time magazine has a person of the year; the Center for New Revenue is inaugurating a tax of the year.  For 2020, it’s New Jersey’s new marijuana tax, which goes up as prices go down, stabilizing after-tax prices – a good idea, because pre-tax prices vary widely in the early years of legalization, and the legal market gets a tax break as bootleggers get marginalized during the roll-out of product in the early days of low supply and high demand .

Details about the tax are herehttps://newrevenue.org/2020/12/18/new-jerseys-ground-breaking-marijuana-tax/.  An unfortunate detail is that the new law has not been signed yet.

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