What Cannabis Paid For: What Are NJ Towns Doing With Taxes?

By Mike Davis, App on July 24, 2023

It seemed too good to be true.

Lawrence Township Manager Kevin Nerwinski didn’t believe the numbers he was seeing. Verano Holdings wanted approval to open up their Zen Leaf medical marijuana dispensary in the town to recreational customers, selling legal weed to anyone over 21 years old. The company expected millions in revenue per month and, with a 2% transfer tax on every sale, a huge windfall for the township.

In the first year or two, Verano told Nerwinski that the township could see as much as $1 million in tax revenue.

“The numbers seemed eye-popping,” Nerwinski said. “And then, on day 1, there were lines around the building. And it continued for weeks and weeks and weeks.”

– Read the entire article at App.