NEWS - New Jersey Cannabis Most Expensive In The Nation: State Senator Has A Solution For Medicinal Users | Benzinga
New Jersey's cannabis market has grown rapidly, with nearly $1 billion in sales last year. The state has over 130 licensed dispensaries, up from 24 in early 2023. Adults over 21 can purchase up to one ounce of cannabis with a state-issued photo ID. Cannabis prices range from $20 to $70, and the state imposes a 6.625% sales tax, with local taxes bringing the total to 10-12%. But, there is an issue: New Jersey has one of the most expensive cannabis in the U.S.
With retail sales starting in April 2022, prices remain high, with flowers costing around $50 for 3.5g and pre-rolls at $16 each. In this scenario, medicinal users face significant financial burdens. This situation has led state Senator Troy Singleton (D) to propose two potential solutions: home cultivation and price caps.
Price Caps On New Jersey Medical Cannabis
State officials acknowledge that medical marijuana prices in New Jersey are excessively high. "Very concerning for many people utilizing medical cannabis," said Singleton, who has been ...