How Much Does Medical Marijuana Cost in New Jersey?

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How Much Does Medical Marijuana Cost in New Jersey?

The cost of medical marijuana in New Jersey depends on the quality and cultivar of cannabis used in the products considered as well as product type and dispensary location. Dispensaries located in cities with many medical cannabis shops usually offer more competitive prices than those in locations where there are few competing dispensaries. Marijuana quality is also a huge factor determining the list price of medical cannabis products. For example, the average cost of 1 ounce of high quality marijuana in New Jersey is $344 while 1 ounce of medium quality marijuana costs $300.

Can You Use a Credit Card at a Dispensary in New Jersey?

No. Marijuana dispensaries are unlikely to accept credit card payments. This is because credit card companies and banks are quick to block marijuana-related transactions due to the federal status of cannabis as a Schedule I controlled substance. Medical cannabis dispensaries, however, accept cash for payment. Some of them also accept debit cards and mobile money app transfers.

Does New Jersey Tax Medical Marijuana Sales?

No. From July 1, 2022, New Jersey no longer taxes medical cannabis sales. The state gradually phased out its initial 6.625% sales tax on medical cannabis between 2020 and 2022.

Does Recreational Marijuana Cost More Than Medical Marijuana in New Jersey?

Recreational cannabis is likely to cost more than medical cannabis in New Jersey because its sales are taxed. While medical marijuana is tax-free in the state, recreational marijuana sales are subject to New Jersey’s sales tax of 6.625% as well as a social equity excise fee of 0.3%.

How to Save Money on the Cost of Medical Marijuana in New Jersey

New Jersey’s medical cannabis program does not have policies helping disadvantaged groups of registered patients to get medical cannabis at reduced cost. It also does not allow patients and caregivers to grow cannabis at home, even for personal use. However, patients can take advantage of dispensary sales and discount events to save on the cost of medical cannabis. Other ways to spend less on medical cannabis include:

• Shopping around at nearby dispensaries for better prices and product selections
• Buying in larger quantities, up to the maximum allowed by the state’s medical cannabis law
• Taking lower doses of medical cannabis to see if they provide the same relief as higher doses
• Switching to longer-lasting cannabis products like edibles