NY Issues New Round OF Cannabis Licenses, Bringing Year’s Total To Over 400

ALBANY, NY – New York state officials say they have issued a new round of adult-use cannabis licenses as they try to speed up the licensing process and crack down on illegal sales.

In a news release, Governor Kathy Hochul announced the issuance of 101 new licenses, bringing the total so far for 2024 to 403.  The state has been trying to combat the sale of marijuana by unlicensed operators, who are circumventing tax requirements and undermining the state’s legal cannabis market.

Hochul and the state’s Cannabis Control Board (CCB) say they are taking steps to bolster New York’s cannabis regulatory framework by issuing legitimate licenses, streamlining the adult-use cannabis licensing process, and stepping up enforcement measures.

“Strengthening New York’s equitable cannabis industry and ensuring the hard-working small business owners operating in the legal market have the licenses to open are the best way to protect the integrity of sales in New York,” said Hochul.

The latest licenses were issued to a diverse group, including microbusinesses, cultivators, processors, distributors, and retail dispensary locations.

The black market weed operators have threatened to take millions of tax dollars away from the state, which imposes a retail tax of 13% on all marijuana products and an additional tax based on potency levels of tetrahydrocannabinol, or THC, marijuana’s psychoactive component.

Along with the new licenses, the CCB decided to empower the Office of Cannabis Management to issue provisional adult-use cannabis licenses as a way to expedite the licensing process so businesses can start operating swiftly. Under the measure, provisional licenses can be awarded outside of regularly scheduled board meetings. Applicants will have the ability to go find their retail locations and come back to the Board when they’re ready for final license.

Cannabis Control Board Chair Tremaine Wright said, “These resolutions represent a significant milestone in our efforts to establish a robust and responsible adult-use cannabis market,” said Cannabis Control Board Chair Tremaine Wright. “By issuing this new batch of licenses, enhancing enforcement protocols, and introducing provisional licensing, we are creating a framework that prioritizes equity, transparency, and public safety.”

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