- High Times @hightimes
Top New York Democrats Seek To Change Cannabis Tax
A pair of influential New York lawmakers are seeking to overhaul the state’s tax structure for adult-use cannabis sales, which they say is currently too complicated.
Crystal Peoples-Stokes, the majority leader of the state assembly, and state Sen. Jeremy Cooney, both Democrats, announced a proposal on Monday that would make major changes to how the Empire State taxes recreational cannabis sales.
As reported by NY1, under the proposed legislation, “the current tax which levies based on potency would be replaced with an increase in the current excise tax.” The outlet noted that it was “not immediately clear what the fiscal implications of the change would be if granted final approval.”
“After careful consideration, it became clear that we need to simplify the tax structure of adult-use cannabis,” People-Stokes said, as quoted by NY1. “As the state continues to build out…
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A pair of influential New York lawmakers are seeking to overhaul the state’s tax structure for adult-use cannabis sales, which they say is currently too complicated.
Crystal Peoples-Stokes, the majority leader of the state assembly, and state Sen. Jeremy Cooney, both Democrats, announced a proposal on Monday that would make major changes to how the Empire State taxes recreational cannabis sales.
As reported by NY1, under the proposed legislation, “the current tax which levies based on potency would be replaced with an increase in the current excise tax.” The outlet noted that it was “not immediately clear what the fiscal implications of the change would be if granted final approval.”
“After careful consideration, it became clear that we need to simplify the tax structure of adult-use cannabis,” People-Stokes said, as quoted by NY1. “As the state continues to build out…
