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Industry warns huge excise-fee spike would raise prices, strain cultivators
Summary
The New Jersey Cannabis Trade Association and operators urged caution over a possible jump in the social equity excise fee (CIF/SEIF) from about $1.24 per ounce to as high as $30, saying such an increase could raise wholesale prices, reverse recent price declines and shock the supply chain.
Industry representatives told the Assembly Oversight, Reform and Federal Relations Committee that how the social equity excise fee (also called the CIF or SEIF) is charged matters for the viability of cultivators and the state market.
Todd Johnson, executive director of the New Jersey Cannabis Trade Association, said the Cannabis Regulatory Commission has discretion under the CREAM Act to increase the SEIF from roughly $1.24 per ounce to a maximum of $30 per ounce in 2025. "An adjustment of this size would represent an increase…
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