NJCBA STATEMENT ON GOVERNOR MURPHY SIGNING A3946, WHICH DECOUPLES STATE TAX PROVISIONS FROM THE FEDREAL PROHIBITION ON CANNABIS BUSINESS DEDUCTIONS, INTO LAW

Trenton — New Jersey CannaBusiness Association (NJCBA) President Scott Rudder issued the following statement today regarding Governor Murphy signing into law A3946, which decouples state tax provisions from the federal prohibition on cannabis business deductions:

“This is another enormous step forward for New Jersey’s cannabis entrepreneurs. It continues the process of normalizing the cannabis industry through common sense measures that benefit everyone. The NJCBA thanks Governor Murphy, Senators Singleton and Turner and Assemblywoman Quijano for their steadfast support of this key legislation. They recognize that outdated and unjust policies should not be the basis for current cannabis law.

“The NJCBA looks forward to working with cannabis businesses as they now take steps that any other business in New Jersey can take.”

About The New Jersey CannaBusiness Association

The NJCBA’s mission is to promote jobs and growth in a sustainable and responsible cannabis industry. Starting with the pioneers in the medical cannabis market to the emerging players in the adult-use space, the NJCBA’s focus is to make certain that decision-makers and regulators understand and respect the needs of the CannaBusiness community and that our community remain responsible corporate citizens.

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