Buying legal cannabis in New York State will soon be a reality, after recreational use was legalized in 2021. Now, new reports suggest the Empire State could impose a potency tax, elevating weed prices to as much as US$70 for an eighth.
Per Syracuse.com, the proposal would see distributors taxed different amounts depending on how many milligrams of THC are present in the compound. Distributors could be taxed half a cent in flower, eight-tenths of a cent in concentrates and three cents in edibles.
In 2021, New York announced its tax cannabis plan that, while not the highest in the U.S., could be the most complex. Instead of tying wholesale tax to factors such as weight or volume, New York would link tax to the THC amount in a product.
New York is reportedly the first state to tax cannabis this way, with
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