Action Marijuana Hearing This Monday

This Monday March 18 at 12 noon The Assembly Appropriations Committee will hold a hearing on A4497 and S2703. Room 11 4th floor Statehouse Annex, Call and email the committee members and urge them to vote NO! See Committee list below.

Certain politicians in the New Jersey Legislature are pushing extra hard to legalize recreational marijuana with zero regard for the citizens they are elected to serve. Why? Perhaps it’s because recreational marijuana will be a cash business, ripe for money laundering and corruption.

Because recreational marijuana is federally illegal, federal banks will not touch this industry, pushing it to a cash business. Reputable state-chartered banks will not do business with a federally illegal marijuana establishment. So, the question that needs to be asked is how is this cash going to be handled? How is the cash sent to Trenton? Will the dispensary owner need to drive down to Trenton with cash in order to pay for the taxes? Once the cash is in Trenton how is it then handled? Does New Jersey have a designated bank for these cash deposits, or will New Jersey have a State-Run Bank like a third world dictatorship? What security is involved to make sure the cash is not tampered with?

Based on the dispensary operation does the State have a handle based on the number of plants grown using the cost of such an operation and what the tax revenue would be? Are employees of the operation going to be paid in cash? If not, then how are they going to be paid if the banks and federal law do not allow banking for this industry? Federal Taxes do need to be paid and as such this cash must be brought to a designated IRS office in New Jersey.