NJ looks at 4 states with legalized marijuana to calculate revenue estimate

Posted: Updated:
TRENTON -

The state of New Jersey is looking toward four states that have already legalized recreational marijuana as a guide for calculating the $60 million in new tax money legalization could bring into the state.

Treasury officials say that they examined revenues for the first year of legalized recreational cannabis from Colorado, Nevada, Oregon and Washington. They considered those states' populations as compared to New Jersey's to arrive at the $60 million figure.

Gov. Phil Murphy says that he hopes New Jersey joins the nine states and Washington, D.C., in approving recreational pot, fulfilling a campaign promise and reversing the resolutely anti-drug policies of his predecessor, Chris Christie.

Republicans in the Legislature say they view the fact that legislation hasn't passed yet as a sign legalization doesn't have enough support to pass the Democrat-led Legislature.

The Associated Press wire services contributed to this report.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."