How high is "too high"? In the cannabis industry, the answer is usually, with a laugh, that there's no such thing.
It's a drug with little to no evidence of overdosing. In New Jersey, there's no limit on the number of businesses. In fact, there are almost as many cultivators, manufacturers and dispensaries as Starbucks. And from entrepreneurs to activists to public officials, stakeholders are often bullish on the future of cannabis, as if there's nowhere to go but up.
But when it comes to raising taxes on cannabis businesses, a different chorus rings out: Slow down. Pump the brakes. "It was written by people who aren't business people and implemented by people who aren't business people," said Todd Johnson, executive director of the New Jersey Cannabis Trade Association. "And it's going to hurt business people."
This is the conundrum facing the state cannabis regulators weigh the possibility of raising the Social Equity Excise Fee, or SEEF, on legal weed. Cannabis business lobbyists, social justice advocates and even the regulators themselves are split on how high is "too high."
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