Marijuana Business Factbook 2019

Marijuana Business Factbook 2019 Chapter 2 | State-By-State: Legal Overview, Market Data and Outlook 126 © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. BUSINESS TAXES & FEES Application Fees $20,000 License Renewals $20,000 (annually) Change of location $10,000 State tax requirements 6.625% state sales tax on medical marijuana (will be phased out over three years) State tax collections in 2018 Not available SUPPLY CHAIN DYNAMICS Dispensary structure Not-for-profit and for-profit allowed Number of dispensaries allowed Vertically integrated alternative treatment centers: 16 Stand-alone dispensaries: 15 Stand-alone cultivators: 5 Number of dispensaries operating in early 2020 Vertically integrated alternative treatment centers: 7 Stand-alone dispensaries: 0 Stand-alone cultivators: 0 MARKET OVERVIEW Number of registered patients 67,281 (up from 49,000 in mid-2019) Estimated 2019 MMJ sales via dispensaries $95 million-$120 million (up from $50 million-$60 million in 2018) NEW JERSEY Medical continued