New York Governor Proposes Tax Plan Aimed at Boosting Legal Cannabis Market
- Cannabis News
- Cannabutter Digest
ALBANY, NY – New York Governor Kathy Hochul has proposed a tax plan aimed at supporting the state’s legal adult-use cannabis industry, according to Syracuse.com.
As part of her state budget that would take effect April 1, Hochul is recommending repealing and replacing New York’s cannabis potency tax with a 9% wholesale excise tax, which the state’s cannabis distributors would collect.
Currently, according to the report, distributors must pay half a cent per milligram of the amount of total THC for flower; eight-tenths of one cent per milligram for concentrates and three cents per milligram for edibles, along with a 9% sales tax and municipal taxes of 4% of retail sales. Under the governor’s plan, distributors would instead pay the 9% excise tax, while retailers would continue paying sales and municipal taxes.
“To promote and support the expansion of the legal adult-use cannabis market, the executive budget simplifies, streamlines and reduces the tax collection obligations and burden for cultivators, processors and distributors by repealing the wholesale THC potency tax,” said Hochul.
Industry experts said the plan would significantly reduce record-keeping costs for the state and its cannabis businesses, and lower overall taxes for the industry.
The proposal was applauded by the Cannabis Association of New York, (CANY) which has been lobbying for replacement of the potency tax with an excise tax. It said the new plan would leave cannabis businesses with a tax rate of about 30 percent.
“Of course we will continue to advocate for a lower tax rate, however we believe that is a good start to a final solution,” CANY President Damien Cornwell was quoted as saying. “It is a validation that the governor and Department of Budget tacitly agree with our general concept of restructuring the potency tax.”
Cannabutter Digest has everything you need to stay up to date on the latest industry trends. From exciting new product reviews, to delicious recipes, we have all the cannabis newsyou can use!
Whip up some magic in the kitchen with our oiud infused #peanutbutterrecipes! 🥜💫
Whether you're craving the rich taste of R✨️S✨️O #peanutbuttercookie or the simplicity of No-Bake #peanutbutterfudge, we've got you covered.
Start with our easy PB base recipe and let your culinary creativity flow. Indulge in these irresistible treats that are as fun to make as they are to enjoy.
🍪🌿 Which one will you try first? 🍪🌿
Tired of your wallet taking a hit from pricey store-bought eddy-bowls? 🌿💸 It’s time to switch to homemade! Our latest article breaks down the substantial savings of DIY herbal infusions.
From detailed cost comparisons to easy-to-follow recipes, we show you how simple it is to create your own delicious infusions without breaking the bank. Say goodbye to overpriced 🍪🌿✨ and hello to budget-friendly, homemade delights.
⤴️Click the link in bio to learn more and transform the way you enjoy your herb 😉
DIY Infused Skincare: Your Holiday Gift Solution 🌿🎁
🌟 Homemade & Heartfelt: Wondering if you can create effective infused skincare right in your kitchen? The answer is a resounding yes! Dive into the world of DIY flower infused topicals and unlock the secret to personalized, potent skincare solutions.
🍃 Craft Your Own Magic: Our guide introduces five easy-to-make herbal topicals that are perfect for everyday use or as thoughtful, handmade holiday gifts. From soothing salves to rejuvenating creams, each recipe is a blend of natural goodness and herbal potency.
🎁 Gifts with a Personal Touch: Store-bought gifts are great, but nothing beats the love and care infused in a homemade present. This holiday season, surprise your loved ones with skincare products crafted by you, tailored to their needs. It’s not just a gift; it’s an experience wrapped in affection and wellness.
Ready to start your DIY infused skincare journey? Check out our article for step-by-step recipes and more!
#DIYTopicals #InfusedSkincare #HolidayGiftIdea #HomemadeGift
Unleash the power of flower in your kitchen! 🌿🍳 From savory dishes to sweet treats, infusing your meals with flower can elevate your culinary experience.
But remember, it’s an art! Dive into our guide to learn the dos and don’ts of cooking with 🌿
Are YOU ready to embark on this flavorful journey? Drop your favorite infused dish below ⬇️
🌿💸 The Ultimate Guide…
🤫 Unlock the secret to budget-friendly, homemade herbal infusions. Discover the game-changer in the world of edibles – a machine that turns your kitchen into a workshop for strong, cost-effective treats.
🌡️ Why choose a specialized machine for your edible creations? Precision is key! With exact temperature control, you’re not just infusing – you’re crafting perfection. Easy to operate and a breeze to clean, it’s the ideal companion for every herbal enthusiast. Say goodbye to waste and hello to maximized strength with each batch!
🍃 Homemade flower infusions are not just about the end product. It’s about the journey – selecting your herbs, blending flavors and terpenes, and creating something truly unique. Our recommended machine helps preserve the essence of your chosen herbs, ensuring every edible is a masterpiece of flavor and effectiveness.
🌟 Ready to transform the way you make home infusions? For an in-depth look at the best herbal infusion machine that ticks all the boxes for affordability, efficiency, and ease of use, head over to our bio.
Ready to turn your baking dreams into a delicious reality? 🌟 Join us in LĒVO’s Masterclass, where we dive into the art of making Double-Infused Blueberry Muffins!
These aren’t just any muffins – they’re a delightful blend of flavor and herbal goodness, perfect for your cozy mornings or a sweet treat.
In this masterclass, you’ll learn all about precision in infusion, balancing flavors, and getting that perfect bake. Whether you’re a seasoned baker or just starting out, these tips will elevate your infusions to a whole new level.
Don’t miss out on transforming your kitchen into an aroma-filled haven of scrumptious, infused treats. To join the class and start baking these heavenly muffins drop your favorite muffin below🧁🍃
The holidaze are upon us, and it’s time to spice up those classic holiday treats! 🎄🍪 From gingerbread cookies to aromatic pumpkin pies and the fluffiest stuffing, we’re here to add a sprinkle of magic to your festive feasts.
But let’s be real, does your family’s holiday recipe have that ‘extra zing’ to really send your taste buds on a joy ride? If not, don’t fret – we’re your secret st🍃ner Santa this season! 🎅🌿
We’re sharing our simplest infused butter recipe that’ll transform your traditional holiday dishes. Whether it’s for a cozy Friendsgiving or a flower-friendly family feast, we’ve got you covered.
🍽️🌿 Got a favorite holiday recipe in mind for this herbal twist? Share it in the comments, and we’ll DM you with how to infuse it with some festive cheer!
🎄Let’s make this holiday season unforgettably delicious!
Dive deep into the world of the Endocannabinoid System (ECS) – a vital component of our bodies that often goes unnoticed. 🌱🧠 From regulating our mood and appetite to ensuring a good night’s sleep, the ECS is the unsung hero of our well-being.
➡️Swipe to discover how you can naturally boost your ECS and elevate your health journey.
Have you ever tried any natural methods to enhance your ECS? Share your experiences below! 🍃🔍
Guess the infusion! 🌿 We’re elevating our fall recipes with a simple hack, and it all starts with activation. Drop your guess below, and we’ll DM you the full recipe details. 🤔
💾 Save this post to refer back later.
🤝 Tag a friend who loves to infuse their own creations!
Thinking of getting your MMJ card online? 🌟 Our enthusiast’s guide breaks down the process, making it easy and hassle-free. From researching your state’s program to consulting with licensed physicians, we’ve got you covered.
Dive in with confidence, check out the link in bio for the full guide! 🌿
