[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,[1] (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.
[1]
Editor's Note: See N.J.S.A. 24:6I-31 et seq.
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.