When New Jersey United for Marijuana Reform and New Jersey Policy Perspective partnered earlier this week to release a new report on the positive revenue implications of legalizing marijuana in New Jersey, NJTV News was there.
As NJTV notes, the co-authored report estimates slightly more than $300 million a year in revenue from a fully phased-in legal and regulated market. The trick is undercutting the illegal market by keeping tax rates low to start.
“You will get people comfortable in participating in the legal market and they will come to be familiar with and appreciate the benefits of it being a safe place, ensuring the health and the safety of the product,” said NJPP Policy Analyst Brandon McKoy.
