TRENTON — New Jersey could reap $300 million a year in sales tax revenue by legalizing marijuana for recreational use, according to a new report by supporters of the effort.

Marijuana is legal to buy in several states, but no law says that selling it will be free from cumbersome expense and paperwork, especially when it comes to taxation.

As more and more states legalize marijuana for medical and recreational use, federal state and local governments are in for a tax bonanza, according to a new pair of reports from the nonprofit Tax Foundation.

Bruce Kennedy ~ WeedWorthy ~

Experts say legal cannabis companies have to keep meticulous records if they don’t want to run afoul of federal, state and community tax officials.