Analysis

NY Pot-Potency Tax Raises Compliance, Complexity Concerns

Law360 (April 15, 2021, 4:53 PM EDT) -- New York's entrance into the legal cannabis market with a unique potency-based tax structure could add unnecessary complexity and compliance issues for a burgeoning industry despite supporters' arguments that it could steer users toward less-powerful products.

Workers sort and trim hemp plants Monday at Hepworth Farms in Milton, New York. New York is the second-largest state to legalize recreational marijuana after California, with retail sales expected to begin as early as next year. (AP Photo/Seth Wenig) With the sweeping passage last month of cannabis legalization and taxation in New York came one of the first tax models in the country to...

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