A High Tax State – New York’s Potency Tax on Adult-Use Cannabis
By EsqSocial Corporation 22/04/21
Adult-use cannabis legalization was passed in New York State when Governor Andrew Cuomo signed the Marijuana Regulation & Taxation Act (the “MRTA”) into law on March 31, 2021, after the Governor had previously attempted to include the legalization of adult-use cannabis in his last three budget proposals. The MRTA is expected to create significant economic opportunities for New Yorkers and the State, which should help the State generate some much needed tax revenue to address the budget...
By: Seyfarth Shaw LLP