MJBizMag April 2022 - 27

INDUSTRY DEVELOPMENTS
New Jersey
Although the state missed a Feb. 22 deadline set by regulators to kick-start
adult-use marijuana sales in the state, the launch isn't far off, according to
Gov. Phil Murphy, who predicted sales would start in March. However, the New
Jersey Cannabis Regulatory Commission, has yet to sign off on recreational
sales for any of the state's 23 operational medical marijuana dispensaries-in
part because the agency is waiting for local authorities to signal their approval
for adult-use businesses. City officials must provide written confirmation
that they are in support of recreational sales within their borders before any
licensed MMJ dispensary can begin selling adult-use products.
New Mexico
The state's highest court declined to hear an appeal regarding whether
medical marijuana producers are subject to the New Mexico gross receipts
tax, meaning MMJ businesses will be able to claim a significant tax break.
In February 2020, New Mexico's Court of Appeals ruled in favor of a medical
cannabis provider seeking a refund of gross receipts taxes, finding that MMJ
qualified as a prescription drug under the state's tax rules. In a news release,
New Mexico cannabis company Ultra Health said it expects to receive a $7.4
million refund from the state for gross receipt taxes on medical marijuana.
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MJBizMag April 2022

Table of Contents for the Digital Edition of MJBizMag April 2022

MJBizMag April 2022 - 1
MJBizMag April 2022 - 2
MJBizMag April 2022 - 3
MJBizMag April 2022 - 4
MJBizMag April 2022 - 5
MJBizMag April 2022 - 6
MJBizMag April 2022 - 7
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