New Jersey Cannabis Trade Association (NJCTA)

As 2024 winds down and we look forward to the new year, NJCTA Executive Director Todd Johnson wrote a blog that reflects on some of the milestones, achievements and challenges faced by our industry this past year. We invite you to read more here: https://lnkd.in/e6x_VUyJ

NJCTA Executive Director Todd Johnson’s statement on the 2025 Social Equity Excise Fee rate was featured in ROI-NJ. Read more here: https://lnkd.in/gQprD-Yy

ICYMI: Yesterday, the New Jersey Cannabis Regulatory Commission set the SEEF rate for 2025 at $2.50 – a significantly lower rate than what was discussed initially. The New Jersey Cannabis Trade Association appreciates the CRC’s deliberative and thoughtful approach in setting next year’s rate, and their willingness to listen to the concerns of the thousands of cannabis industry stakeholders and consumers who expressed grave concerns about the ramifications of a drastically increased SEEF. We are proud to have worked with stakeholders across the industry to gather feedback, recommendations and real stories from operators around the SEEF’s impact on their businesses. From outreach to the Governor’s Office and the Legislature to Stakeholder Listening Sessions and direct advocacy with the Commission, the NJCTA is proud to be the voice of the licensed cannabis industry, and in a position to amplify the voices of individual industry participants to ensure concerns are heard loud and clear.   The NJCTA is hopeful this moderate increase will allow operators to navigate the increased cost of operations without requiring material price impacts for consumers. Moving forward, we strongly support a change in the SEEF mechanism to ensure that when funds are raised and reinvested in underserved communities, it is done so purposefully and intentionally to achieve the intentions of CREAMMA while allowing the cannabis industry and budding entrepreneurs to thrive.

If you were unable to attend the NJCTA and NJCEA - New Jersey Cannabis Equity Association’s Social Equity Excise Fee (SEEF) panel discussion at Bakin' Bad last month, you can still listen to the full discussion on our YouTube channel here: https://lnkd.in/ewTWZWMn The 2025 SEEF will be discussed during the New Jersey Cannabis Regulatory Commission meeting tomorrow. Let the CRC know your thoughts on a potential SEEF increase by dialing #250 and saying, “Stop Overtaxing Cannabis,” or visiting https://lnkd.in/emmwG7Qf

Thank you to everyone who joined the NJCTA last week at MJBizCon for the “Updates on the Northeast Cannabis Market: Opportunities in this Emerging Cannabis Market” panel! We enjoyed connecting with fellow #cannabis pros, sharing insights and hearing your thoughts on issues shaping our industry.

ATTENTION #CANNAPRENEURS: the next New Jersey Cannabis Regulatory Commission meeting is this Thursday, December 12! During this meeting, the CRC will vote on a potential Social Equity Excise Fee increase for 2025. The deadline to register to speak is TOMORROW at 5 p.m. Register to speak here: https://lnkd.in/epbtbbGR

The next New Jersey Cannabis Regulatory Commission meeting is next Thursday, December 12 at 11 a.m. This will be a pivotal meeting for our state’s cannabis industry as a potential 2025 Social Equity Excise Fee increase will be discussed. Register to speak during the meeting here: https://lnkd.in/epbtbbGR Be sure to also let the CRC and Governor Murphy know your concerns about a 2025 SEEF increase ahead of the meeting by dialing #250 and saying, “Stop Overtaxing Cannabis!” We need your voice now more than ever!

This Friday, NJCTA Executive Director Todd Johnson, member Eric Hauser of Organic Remedies and General Counsel Michael McQueeny of Foley Hoag LLP will speak during MJBizCon’s “Updates on the Northeast Cannabis Market: Opportunities in this Emerging Cannabis Market” panel. Don’t miss out on this informative panel where we will discuss important happenings and opportunities in our region’s emerging cannabis market! Feel free to reach out via direct message if you would like to connect with any of our team at MJBiz outside of this event!

Thank you to everyone who joined the NJCTA and NJCEA - New Jersey Cannabis Equity Association last week for our Social Equity Excise Fee panel discussion at Bakin' Bad. The discussion and feedback from operators and stakeholders on the impacts of a potential increase for the 2025 SEEF was invaluable. Make your voice heard! Contact Governor Murphy and the New Jersey Cannabis Regulatory Commission to share your concerns about a 2025 SEEF increase. Call #250 and say “Stop Overtaxing Cannabis” or visit https://lnkd.in/ef6kcZrV to send a message today!