Moody’s Investors Service, Inc., a leading credit ratings, research, and risk analysis company, confirmed today that legalized marijuana provides positive revenue for states and localities which have permitted retail sale of marijuana, even taking into account the cost of regulation. While the share of the general revenue provided by taxes and licensing fees is relatively small – 1.2 percent of the general revenue in Washington and 2 percent in California, for example – that is in line with Governor Phil Murphy’s projections, which have accounted for an additional $60 ...
It is well known that New Jersey’s medical marijuana program was significantly hindered by Governor Christie. Since taking office, Governor Murphy has sought to significantly expand the program by expanding the list of qualifying medical conditions, significantly cutting the registration fees for patients, and expanding the number of doctors who can prescribe medical marijuana. The State even launched a new program that allows patients and doctors to register with the medical marijuana program through their mobile devices.
Governor’s Murphy’s efforts have paid ...
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