Jake Honig Act Amendment Brings Economic Relief to Medical Marijuana Purchasers in NJ
A look at the sales tax phase-out that was an integral part of the 2019 amendments to the act.
August 14, 2020 at 12:00 PM
4 minute read
As New Jersey was part of the epicenter of the COVID-19 outbreak in the United States, New Jersey employees have been hit particularly hard during 2020. Layoffs and furloughs of employees across industry sectors continue to be widespread affecting every county. In response, the State has rolled out financial relief packages to help mitigate the economic impact on business owners and employees arising from this unprecedented public health crisis. In fact, during the last 18 weeks, the New Jersey Department of Labor & Workforce Development (NJDL) distributed $11.6 billion in unemployment benefits to workers, including $825 million distributed during the week ending July 10, 2020. Additionally, since the Federal Pandemic Unemployment Compensation program began the week of April 4, 2020, the NJDL has "issued more than $7 billion in federal Pandemic Unemployment Compensation payments to 1.1 million claimants," as indicated in a press release from the NJDL dated July 16, 2020 (https://www.nj.gov/labor/lwdhome/press/2020/20200723_paymentsupdate.shtml).
Despite the NJDL reporting a 33% decline in the number of new unemployment benefit applications submitted between July 10 and July 18, financially strapped New Jersey employees seek additional financial relief and expense reductions, whether big or small, to help them withstand financial shortfalls caused by the pandemic. Fortunately, 2019 amendments to the Jake Honig Compassionate Use Medical Cannabis Act ("the Act") (N.J.S.A. 24:6I-1, et. seq., effective Oct. 1, 2010, amended by L. 2019, c. 153 §1, eff. July 2, 2019), helps New Jerseyans who are registered with the New Jersey Medicinal Marijuana Program ("Registered Patients") when purchasing cannabis from a New Jersey medical cannabis dispensary through sales tax savings.
Effective July 1, 2020, the New Jersey sales tax imposed on Registered Patients purchasing medical marijuana from a medical cannabis dispensary has been reduced by 2.62%, from 6.625% to 4% (N.J.S.A. 24:6I-10; retail sales of medical cannabis are subject to tax pursuant to the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B-1 et seq.)). This reduction is the first phase of a three-year plan by New Jersey to eliminate New Jersey sales tax on medicinal cannabis purchases by July 1, 2022.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All$10 Million Settlement Reached for Baby Injured by Disconnected Ventilator
3 minute readJury Awards Horizon $2.4 Million for Fraudulent Billing Against 3 NJ Health Care Providers
2 minute readVirtua Drug Tests Pregnancy Patients Without Consent, NJ Attorney General Alleges in New Suit
3 minute readNJ Supreme Court Considers Ability to Add Nonparty Doctors to Med Mal Verdict Sheets
4 minute readLaw Firms Mentioned
Trending Stories
- 1First California Zantac Jury Ends in Mistrial
- 2Democrats Give Up Circuit Court Picks for Trial Judges in Reported Deal with GOP
- 3Trump Taps Former Fla. Attorney General for AG
- 4Newsom Names Two Judges to Appellate Courts in San Francisco, Orange County
- 5Biden Has Few Ways to Protect His Environmental Legacy, Say Lawyers, Advocates
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250