Sep
19
New York can't afford to concede retail cannabis to New Jersey
Posted in: Uncategorized
New York state may see potential tax dollars go up in a puff of pot smoke.
With New Jersey Governor Phil Murphy leading a fast-track push to legalize recreational marijuana, pot dispensaries could soon be as close as a seven-minute train ride from Manhattan. Once people start hopping the PATH train to Jersey City to purchase marijuana, New York lawmakers will start feeling pressure about losing taxable sales, says Hadley Ford, CEO of pot retailer iAnthus Capital Holdings.
“It’s clear New Jersey is going full rec,” Ford says. “As soon as Governor Murphy collects a tax dollar from a New York City resident, New York is going to push that bill right to the front.”
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