New Jersey's Own Rule Called for a $30 Cannabis Fee. Regulators Waived It Twice.

New Jersey's cannabis law built in a Social Equity Excise Fee that rises as prices fall. For 2025 and 2026, the Cannabis Regulatory Commission's own rule called for $30 an ounce. It waived the rule twice and charged $2.50. On 2026 prices, the statute allows up to $60.

We walk through the law, the two waivers and votes, what the fee collected ($3.48M in 2024, $10.97M in 2025), what the ceilings would mean, and why the bigger lever on revenue is winning customers on net price and affordable, accessible quality.

Full story, tables and sources: https://newyork420week.com

Reporting by Greg Silverstein for New York 420 Week.
Instagram: @newyork420week · @sourcatjack

CHAPTERS
0:00 Intro
0:38 What the SEEF is
1:11 The law vs. the rule
1:50 Five years of rates
2:16 Waiver #1 (Dec 2024)
2:46 Waiver #2 (Dec 2025)
3:20 The staff memo
3:44 What it collected
4:13 The ceilings
4:47 More stores, not more customers
5:23 Who would pay
5:51 The 2027 fee
6:21 Bottom line

METHOD
Figures come from NJ Cannabis Regulatory Commission resolutions, public-meeting decks (Metrc) and Treasury-certified sales and tax tables; the statute is N.J.S.A. 54:47F-1. Calculations are ours. The view that net price and affordable, accessible quality drive customers' choices is New York 420 Week's analysis.