Three New Taxes Planned if Pot Becomes Legal
If marijuana becomes legal, it looks like you might have to expect at least three new taxes to go with it.
I’ve read a few things about this now, initally after seeing an article in the Times Union about a weed forum that happened this week at a local college. They mentioned that Governor Cuomo’s Cannabis Regulation and Taxation Act has a plan to also enact three new taxes on adult marijuana use. The mentioned goal is to generate about $300 million in revenue for the state off the taxes.
I couldn’t find any more real facts, so I found another interesting article about it through The Buffalo News talking specifically aboit Cuomo’s new proposed act. I couldnt find exactly what would be taxed, but did get some more info. As part of the proposition an Office of Cannabis Management would he created, and it also aims to regulate marijuana from cultivation to retail sales. Maybe that’s some of where the $300 million would go?