[Adopted 10-24-2022 by Ord. No. 2022-03]
It is the purpose of this article to implement the provision
of New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace
Modernization Act, P.L. 2021, (signed into law February 22, 2021), which authorizes
the governing body of a municipality to adopt an ordinance imposing
a transfer tax at a uniform percentage rate not to exceed 2% of the
receipts from each sale by a cannabis cultivator; 2% of the receipts
from each sale by a cannabis manufacturer; 1% of the receipts from
each sale by a cannabis wholesaler; and 2% of the receipts from each
sale by a cannabis retailer located in the Township, which shall be
in addition to any other tax or fee imposed pursuant to statute or
local ordinance or resolution by any governmental entity upon the
dispensary.
The tax rate for each category of license shall be as follows:
A. Cannabis cultivator: 2% of the receipts from each sale by a cannabis
cultivator.
B. Cannabis manufacturer: 2% of the receipts from each sale by a cannabis
manufacturer.
C. Cannabis wholesaler: 1% of the receipts from each sale by a cannabis
wholesaler.
D. Cannabis retailer: 2% of the receipts from each sale by a cannabis
retailer.
Every cannabis business and/or licensee shall remit taxes collected
and due and owing on a quarterly basis to the Municipal Chief Financial
Officer, along with certified copies of sales receipts and product
transfer ledgers or documentation. The dates of tax remission shall
be on or before January 2, April 1, July 1 and October 1, or as established
by the Chief Financial Officer. Each licensee shall certify to the
truth and accuracy of the receipts and product transfer ledgers or
documentation, and shall remit a return in a form determined by the
Chief Financial Officer.
All unpaid taxes as required under this article shall be subject
to the accrual of interest and penalties at rates and penalties set
forth and established for delinquent ad valorem taxes within the Town
of Belvidere.
Each cannabis establishment owner and/or licensee shall be personally
liable for any and all taxes imposed under this article and any interest
and penalty accruing thereon. In addition, any unpaid balance and
interest and penalties accruing thereon shall constitute a lien on
the real property in which the cannabis establishment is located and
such liens shall be enforced in the same manner as municipal tax liens.
Every cannabis establishment and/or licensee within the Town
of Belvidere is subject to audit, no greater than once per annum,
of the establishment's or licensee's business records, receipts
and accounting books, such audit to be performed at the Chief Financial
Officer's discretion, by a certified public accountant. Every
cannabis establishment and licensee shall be obligated to fully comply
with the requirements of an auditor. Failure to cooperate with the
audit, or any misrepresentation or fraud committed by the establishment
or licensee, shall result in the immediate suspension of the license.