VILLAS –Lower Township Council Aug. 2 approved an ordinance amendment regarding the sale and taxation of cannabis.
The amendment imposes a transfer tax on cannabis sales by licensed businesses operating within the municipalityand a user tax on concurrent license holders operating more than one cannabis establishment within the municipality.
New Jersey voters Nov. 3, 2020, voted in favor of legalizing marijuana, prompting Gov. Phil Murphy to sign the New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act, which “legalized the recreational use of marijuana and established a comprehensive regulatory and licensing scheme for the creation of a commercial cannabis industry within the state of New Jersey, and specifically created six distinct classes of commercial cannabis licenses related to growing, processing, distributing, wholesale, delivery and retail uses,” according to the ordinance.
The amendment, made to comply with the act, passed on first reading. A second reading and public hearing is scheduled for Sept.8.
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