Governor Kathy Hochul believes that New York will rake in $1.25B in tax revenue from legal cannabis sales over the next six years. These funds are slated to support economic and social recovery projects.
State Projections
2024 Tax Revenue – $95M2028 Tax Revenue – $363M (up 282% from 2024’s projection)
Important Tax Considerations – Current Regulations
9% Excise Tax4% Tax for Local GovernmentsSeparate tax on THC varying by potency
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