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New Jersey's top state lawmaker says he won't support a tax rate on legal marijuana any higher than 12 percent -- a stance that could throw a wrench in negotiations with Gov. Phil Murphy.

"Twelve percent is as high as I'll go," state Senate President Stephen Sweeney told NJ Advance Media on Tuesday after lawmakers met on a bill that would legalizing recreational marijuana in the state.

"I don't want to put it too high because people won't buy it legally -- they'll buy it illegally," Sweeney, D-Gloucester, added.

The tax rate is one discrepancy between Sweeney and Murphy, a fellow Democrat, as New Jersey's leaders continue to work out details on a plan to legalize weed.

The bill lawmakers had been considering put the tax rate at 10 percent -- which would be the lowest in the U.S.

But Murphy believes that's too low, according to published reports citing sources who say he'd prefer 25 percent. The governor won't say publicly the rate he is seeking.

Spokespeople for Murphy did not immediately return messages seeking comment Tuesday.

Lawmakers have yet to formally introduce a bill to the public and public hearings have not been scheduled.

But Murphy has said he wants lawmakers to pass a measure legalizing weed by the end of the year.

Sweeney has said he expects at least the state Senate, the upper house of the New Jersey Legislature, to vote on a bill on Oct. 29.

He said Tuesday that's still a possibility, though he still needs to discuss that with state Assembly Speaker Craig Coughlin, D-Middlesex.

"That's what I'm shooting for," Sweeney said. "But like I said, I've got to talk to the speaker."

Both the Senate and the Assembly, the Legislature's lower house, need to pass the measure before Murphy could sign it into law.

Members of the Democratic caucuses that control both the Senate and Assembly held separate meetings Tuesday to discuss the bill.

Sweeney said there was "a lot of information to share and a lot of information to take in," though many of his members couldn't make the meeting.

"We finally had a bill we could put in front of our members," Sweeney said. "We expect them to digest it, and we'll be talking about it more real soon."

Sweeney said he and Coughlin need to discuss when the measure will be formally introduced.

"We agreed we'd do things together," he said.

Coughlin said in a statement Tuesday that his caucus had "a productive and positive meeting with many of the members."

"There was good feedback on the issue and I look forward to working with them to come up with a bill that will positively impact the state of New Jersey," the Assembly speaker added.

NJ Advance Media staff writer Susan K. Livio contributed to this report.

Brent Johnson may be reached at bjohnson@njadvancemedia.com. Follow him on Twitter @johnsb01. Find NJ.com Politics on Facebook.