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Is there a sales tax on cannabis products? - New Jersey
Is there a sales tax on cannabis products? - New Jersey
Adam avatar
Written by Adam
Updated over 2 years ago

As of 2020, yes, there is a state sales tax on cannabis products. Initially, this was set at 6.625%. However, it was cut to 4% on July 1st. It will be cut again to 2% the following year, before being eliminated entirely in 2022. Nevertheless, local municipalities are still able to charge a 2% transfer fee on transactions within their town borders.

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