NY State Senate Bill 2023-S4831

Current Bill Status - In Senate Committee Finance Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Feb 27, 2024	reported and committed to finance
Feb 21, 2024	print number 4831b
Feb 21, 2024	amend (t) and recommit to budget and revenue
Feb 20, 2024	print number 4831a
Feb 20, 2024	amend (t) and recommit to budget and revenue
Jan 03, 2024	referred to budget and revenue
Feb 15, 2023	referred to budget and revenue

Votes

- Feb 27, 2024 - Budget And Revenue Committee Vote
  S4831
  
  4
  
  Aye
  
  1
  
  Nay
  
  2
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Budget And Revenue Committee Vote: Feb 27, 2024
      
      aye (4)
      
      Addabbo Jr.
      
      Comrie
      
      Gounardes
      
      Parker
      
      nay (1)
      
      Murray
      
      aye wr (2)
      
      Krueger
      
      Weber

Bill Amendments

Original

B (Active)

co-Sponsors

2023-S4831 - Details

See Assembly Version of this Bill:: A4619
Current Committee:: Senate Finance
Law Section:: Tax Law
Laws Affected:: Rpld §492 sub (k), amd §§493, 494 & 496, Tax L

2023-S4831 - Summary

Relates to the amount of tax charged for the sale or transfer of adult-use cannabis products to a retail customer; makes related provisions.

2023-S4831 - Sponsor Memo

                                 
BILL NUMBER: S4831

SPONSOR: COONEY
 
TITLE OF BILL:

An act to amend the tax law, in relation to the imposition of taxes,
registration and records of the sale of cannabis; and to repeal certain
provisions of such law relating thereto

 
SUMMARY OF PROVISIONS:

Section 1 repeals subdivision k of section 492 of the tax law.

Section 2 amends section 493 of the tax law to:

* Repeal the potency tax on adult-use cannabis products; and

* Increases the excise tax on adult-use cannabis products from nine to
sixteen percent.

Section 3 amends section 494 of the tax law to make corresponding chang-
es.

Section 4 amends section 496 of the tax law to make corresponding chang-
es.

Section 5 is the effective date.

 
JUSTIFICATION:

No other state in the country has implemented the potency (THC) tax on
adult-use cannabis that New York State has. This tax is excessively
complex, costly to cannabis enterprises, and will lead to shopping for
the best lab results. Furthermore, such a tax results in burdens that
fall disproportionately on small business and social equity applicants.

There is a large amount of data now available from other cannabis-legal
states that strongly suggests that lower overall rates and simpler tax
structures facilitate higher tax revenues and create an environment in
which smaller businesses can thrive.

New York State already has a massive and well-established illicit market
that has continued to flourish even after adult-use cannabis was legal-
ized, and the THC tax and total tax burden will make this problem far
worse.

This bill, by replacing the current potency tax with an increase in the
current excise tax, will better shift the costs away from businesses and
consumers while facilitating a cannabis market in New York State that is
flourishing and will provide real economic benefits for all.

 
LEGISLATIVE HISTORY:

This is a new bill.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act ,shall take effect immediately.

2023-S4831 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4831
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 15, 2023
                                ___________
 
 Introduced  by  Sen.  COONEY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, in relation to  the  imposition  of  taxes,
   registration  and  records  of  the  sale  of  cannabis; and to repeal
   certain provisions of such law relating thereto

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.  Subdivision (k) of section 492 of the tax law is REPEALED.
   § 2. Section 493 of the tax law, as added by chapter 92 of the laws of
 2021, is amended to read as follows:
   §  493.  Imposition  of  tax.  (a)  [There  is hereby imposed a tax on
 adult-use cannabis products sold by a distributor to a person who  sells
 adult-use cannabis products at retail at the following rates:
   (1)  cannabis flower at the rate of five-tenths of one cent per milli-
 gram of the amount of total THC, as reflected on the product label;
   (2) concentrated cannabis at the rate of eight-tenths of one cent  per
 milligram of the amount of total THC, as reflected on the product label;
 and
   (3)  cannabis  edible product at the rate of three cents per milligram
 of the amount of total THC, as reflected on the product label. This  tax
 shall  accrue  at  the time of such sale or transfer. Where a person who
 distributes adult-use cannabis is licensed under the cannabis law  as  a
 microbusiness  or  registered  organization, such person shall be liable
 for the tax, and such tax shall accrue at the time of the retail sale.
   (b)] In addition to any other tax imposed by  this  chapter  or  other
 law,  there  is  hereby  imposed  a tax of [nine] SIXTEEN percent of the
 amount charged for the sale or transfer of adult-use  cannabis  products
 to  a  retail customer by a person who sells adult-use cannabis products
 at retail. This tax is imposed on the person who sells adult-use  canna-
 bis at retail and shall accrue at the time of such sale or transfer.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08127-02-3
 S. 4831                             2

 
   [(c)]  (B) In addition to the taxes imposed by [subdivisions] SUBDIVI-
 SION (a) [and (b)] of this section, there is hereby imposed a tax on the
 sale or transfer of adult-use cannabis products to a retail customer  by
 a  person who sells adult-use cannabis products at retail at the rate of
 four  percent  of  the  amount charged by such person for such adult-use
 cannabis product, which tax shall accrue at the time  of  such  sale  or
 transfer. The tax imposed by this subdivision is imposed on a person who
 sells  adult-use  cannabis  products at retail, and shall be paid to the
 commissioner in trust for and on account of a city having  a  population
 of  a  million  or more, and counties (other than counties wholly within
 such a city), towns, villages, and cities with a population of less than
 a million in which a retail dispensary is located.
   [(d)] (C) The taxes imposed by this section shall not apply  to  sales
 of  adult-use  cannabis  to a person holding a cannabis research license
 under section thirty-nine of the cannabis law.
   § 3. Paragraph (i) of subdivision (a) of section 494 of the  tax  law,
 as  added  by  chapter  92  of  the  laws of 2021, is amended to read as
 follows:
   (i) Every [distributor on whom tax is imposed under this  article  and
 every]  person who sells adult-use cannabis products at retail must file
 with the commissioner a properly completed application for a certificate
 of registration before  engaging  in  business.  An  application  for  a
 certificate  of registration must be submitted electronically, on a form
 prescribed by the commissioner, and must be accompanied by a non-refund-
 able application fee of six hundred dollars. A certificate of  registra-
 tion  shall  not  be  assignable  or transferable and shall be destroyed
 immediately upon such person ceasing to do business as specified in such
 certificate, or in the event that such business never commenced.
   § 4. Section 496 of the tax law, as added by chapter 92 of the laws of
 2021, is amended to read as follows:
   § 496. Records to be kept; penalties. (a) Records to  be  kept.  Every
 [distributor on whom tax is imposed under this article and every] person
 who  sells adult-use cannabis products at retail shall maintain complete
 and accurate records in  such  form  as  the  commissioner  may  require
 including,  but  not limited to, [such items as the total THC content of
 the adult-use cannabis products sold to or  produced  by  such  person;]
 complete  records  of  every  retail sale of adult-use cannabis, and any
 other record or information required by the commissioner.  Such  records
 must  be  preserved  for a period of three years after the filing of the
 return to which such records relate and must be provided to the  commis-
 sioner upon request.
   (b) Penalties. In addition to any other penalty provided in this arti-
 cle  or  otherwise  imposed  by  law,  [every distributor on whom tax is
 imposed under this article and] every person who sells adult-use  canna-
 bis  products  at  retail who fails to maintain or make available to the
 commissioner the records required by this section is subject to a penal-
 ty not to exceed five hundred dollars for each month or part thereof for
 which the failure occurs. This penalty may not be imposed more than once
 for failures for the same monthly  period  or  part  thereof.    If  the
 commissioner  determines  that  a  failure to maintain or make available
 records in any month was entirely due to reasonable  cause  and  not  to
 willful neglect, the commissioner must remit the penalty for that month.
   § 5. This act shall take effect immediately.

co-Sponsors

2023-S4831A - Details

See Assembly Version of this Bill:: A4619
Current Committee:: Senate Finance
Law Section:: Tax Law
Laws Affected:: Rpld §492 sub (k), amd §§493, 494 & 496, Tax L

2023-S4831A - Summary

Relates to the amount of tax charged for the sale or transfer of adult-use cannabis products to a retail customer; makes related provisions.

2023-S4831A - Sponsor Memo

                                 
BILL NUMBER: S4831A

SPONSOR: COONEY
 
TITLE OF BILL:

An act to amend the tax law, in relation to the imposition of taxes on
the sale of cannabis; and to repeal certain provisions of such law
relating thereto

 
SUMMARY OF PROVISIONS:

Section 1 repeals subdivision k of section 492 of the tax law. Section 2
amends section 493 of the tax law to:

* Replace the potency tax with a wholesale tax starting at five percent
in 2025, to seven percent in 2029, and to nine percent in 2033

* Require that for microbusinesses and registered organizations, the tax
imposed shall be seventy-five percent of the amount charged for the sale
or transfer of such products to the retail customer

Section 3 amends section 496-b of the tax law to make corresponding
changes.

Section 4 is the effective date.

 
JUSTIFICATION:

No other state in the country has implemented the potency (THC) tax on
adult-use cannabis that New York State has. This tax is excessively
complex, costly to cannabis enterprises, and will lead to shopping for
the best lab results. Furthermore, such a tax results in burdens that
fall disproportionately on small business and social equity applicants.

There is a large amount of dataònow available from other cannabis-legal
states that strongly suggests that lower overall rates and simpler tax
structures facilitate higher tax revenues and create an environment in
which smaller businesses can thrive.

New York State already has a massive and well-established illicit market
that has continued to flourish even after adult-use cannabis was legal-
ized, and the THC tax and total tax burden will make this problem far
worse.

This bill, by replacing the current potency tax with a phased in whole-
sale tax, will better shift the costs away from businesses and consumers
while facilitating a cannabis market in New York State that is flourish-
ing and will provide real economic benefits for all.

 
LEGISLATIVE HISTORY:

This is a new bill.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2023-S4831A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4831--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 15, 2023
                                ___________
 
 Introduced  by  Sens.  COONEY,  COMRIE,  RAMOS -- read twice and ordered
   printed, and when printed to be committed to the Committee  on  Budget
   and  Revenue  -- recommitted to the Committee on Budget and Revenue in
   accordance with Senate Rule 6, sec. 8 --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 AN ACT to amend the tax law, in relation to the imposition of  taxes  on
   the  sale  of  cannabis;  and to repeal certain provisions of such law
   relating thereto
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.  Subdivision (k) of section 492 of the tax law is REPEALED.
   § 2. Section 493 of the tax law, as added by chapter 92 of the laws of
 2021, is amended to read as follows:
   §  493. Imposition of tax. (a) There is hereby imposed a tax on adult-
 use cannabis products sold by  a  distributor  to  a  person  who  sells
 adult-use cannabis products at retail at the following rates:
   (1)  FOR  TAX YEARS BEGINNING BEFORE JANUARY FIRST, TWO THOUSAND TWEN-
 TY-FIVE:
   (I) cannabis flower at the rate of five-tenths of one cent per  milli-
 gram of the amount of total THC, as reflected on the product label;
   [(2)]  (II)  concentrated  cannabis at the rate of eight-tenths of one
 cent per milligram of the amount of total THC, as reflected on the prod-
 uct label; and
   [(3)] (III) cannabis edible product at the rate  of  three  cents  per
 milligram of the amount of total THC, as reflected on the product label.
 This  tax  shall  accrue  at  the time of such sale or transfer. Where a
 person who distributes adult-use cannabis is licensed under the cannabis
 law as a microbusiness or registered organization, such person shall  be
 liable  for the tax, and such tax shall accrue at the time of the retail
 sale;

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08127-03-4

 S. 4831--A                          2
 
   (2) FOR TAX YEARS BEGINNING ON JANUARY FIRST, TWO THOUSAND TWENTY-FIVE
 AND ENDING BEFORE JANUARY FIRST, TWO THOUSAND TWENTY-EIGHT:
   FIVE  PERCENT  OF  THE  AMOUNT  CHARGED  FOR  THE SALE OR TRANSFERS OF
 ADULT-USE CANNABIS PRODUCTS TO  A  LICENSED  RETAILER  FROM  A  LICENSED
 DISTRIBUTOR;
   (3) FOR TAX YEARS BEGINNING ON JANUARY FIRST, TWO THOUSAND TWENTY-NINE
 AND ENDING BEFORE JANUARY FIRST, TWO THOUSAND THIRTY-TWO:
   SEVEN  PERCENT  OF  THE  AMOUNT  CHARGED  FOR THE SALE OR TRANSFERS OF
 ADULT-USE CANNABIS PRODUCTS TO  A  LICENSED  RETAILER  FROM  A  LICENSED
 DISTRIBUTOR;
   (4)  FOR  TAX  YEARS  BEGINNING ON JANUARY FIRST, TWO THOUSAND THIRTY-
 THREE AND THEREAFTER:
   NINE PERCENT OF THE AMOUNT  CHARGED  FOR  THE  SALE  OR  TRANSFERS  OF
 ADULT-USE  CANNABIS  PRODUCTS  TO  A  LICENSED  RETAILER FROM A LICENSED
 DISTRIBUTOR.
   (A-1) THE TAX IMPOSED BY SUBPARAGRAPHS TWO, THREE, AND FOUR OF  SUBDI-
 VISION  (A)  OF  THIS SECTION SHALL  ACCRUE  AT THE TIME OF SUCH SALE OR
 TRANSFER. WHERE A PERSON WHO DISTRIBUTES ADULT-USE CANNABIS IS  LICENSED
 UNDER  THE  CANNABIS LAW  AS  A MICROBUSINESS  OR  REGISTERED  ORGANIZA-
 TION AND SUCH PERSON SELLS ADULT-USE CANNABIS PRODUCTS AT  RETAIL,  SUCH
 PERSON SHALL BE LIABLE FOR THE TAX, SUCH TAX SHALL ACCRUE AT THE TIME OF
 THE  RETAIL  SALE,  AND  THE  AMOUNT  SUBJECT TO THE TAX IMPOSED BY THIS
 SUBDIVISION SHALL BE SEVENTY-FIVE PERCENT OF THE AMOUNT CHARGED BY  SUCH
 PERSON FOR THE SALE OR TRANSFER OF SUCH PRODUCTS TO A RETAIL CUSTOMER.
   (b) In addition to any other tax imposed by this chapter or other law,
 there  is hereby imposed a tax of nine percent of the amount charged for
 the sale or transfer of adult-use cannabis products to a retail customer
 by a person who sells adult-use cannabis products at retail. This tax is
 imposed on the person who sells adult-use cannabis at retail  and  shall
 accrue at the time of such sale or transfer.
   (c)  In  addition  to the taxes imposed by subdivisions (a) and (b) of
 this section, there is hereby imposed a tax on the sale or  transfer  of
 adult-use  cannabis  products to a retail customer by a person who sells
 adult-use cannabis products at retail at the rate of four percent of the
 amount charged by such person for such adult-use cannabis product, which
 tax shall accrue at the time of such sale or transfer. The  tax  imposed
 by  this subdivision is imposed on a person who sells adult-use cannabis
 products at retail, and shall be paid to the commissioner in  trust  for
 and  on  account of a city having a population of a million or more, and
 counties (other  than  counties  wholly  within  such  a  city),  towns,
 villages, and cities with a population of less than a million in which a
 retail dispensary is located.
   (d)  The  taxes  imposed  by  this section shall not apply to sales of
 adult-use cannabis to a person holding a cannabis research license under
 section thirty-nine of the cannabis law.
   §  3. Subdivision (a) of section 496-b of the tax  law,  as  added  by
 chapter 92 of the laws of 2021, is amended to read as follows:
   (a) The provisions of PART FOUR OF article [twenty-seven] TWENTY-EIGHT
 of this chapter shall apply to the taxes imposed by section four hundred
 ninety-three  of this article in the same manner and with the same force
 and effect as if the language of such article had been  incorporated  in
 full  into this section and had expressly referred to the tax imposed by
 this article, except to the extent that any provision of such article is
 either inconsistent with a provision of this article or is not  relevant
 to this article.
   § 4. This act shall take effect immediately.

co-Sponsors

2023-S4831B (ACTIVE) - Details

See Assembly Version of this Bill:: A4619
Current Committee:: Senate Finance
Law Section:: Tax Law
Laws Affected:: Rpld §492 sub (k), amd §§493, 494 & 496, Tax L

2023-S4831B (ACTIVE) - Summary

Relates to the amount of tax charged for the sale or transfer of adult-use cannabis products to a retail customer; makes related provisions.

2023-S4831B (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S4831B

SPONSOR: COONEY
 
TITLE OF BILL:

An act to amend the tax law, in relation to the imposition of taxes on
the sale of cannabis

 
SUMMARY OF PROVISIONS:

Section 1 amends section 493 of the tax law to:

* Replace the potency tax with a wholesale tax starting at five percent
June 1, 2024, to seven percent in 2028, and to nine percent in 2031

* Require that for microbusinesses and registered organizations, the tax
imposed shall be seventy-five percent of the amount charged for the sale
or transfer of such products to the retail customer

Section 2 amends section 496-b of the tax law to make corresponding
changes.

Section 3 is the effective date.

 
JUSTIFICATION:

No other state in the country has implemented the potency (THC) tax on
adult-use cannabis that New York State has. This tax is excessively
complex, costly to cannabis enterprises, and will lead to shopping for
the best lab results. Furthermore, such a tax results in burdens that
fall disproportionately on small business and social equity applicants.

There is a large amount of data now available from other cannabis-legal
states that strongly suggests that lower overall rates and simpler tax
structures facilitate higher tax revenues and create an environment in
which smaller businesses can thrive.

New York State already has a massive and well-established illicit market
that has continued to flourish even after adult-use cannabis was legal-
ized, and the THC tax and total tax burden will make this problem far
worse.

This bill, by replacing the current potency tax with a phased in whole-
sale tax, will better shift the costs away from businesses and consumers
while facilitating a cannabis market in New York State that is flourish-
ing and will provide real economic benefits for all.

 
LEGISLATIVE HISTORY:

This is a new bill.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2023-S4831B (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4831--B
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 15, 2023
                                ___________
 
 Introduced  by  Sens.  COONEY,  COMRIE,  RAMOS -- read twice and ordered
   printed, and when printed to be committed to the Committee  on  Budget
   and  Revenue  -- recommitted to the Committee on Budget and Revenue in
   accordance with Senate Rule 6, sec. 8 --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee --  committee  discharged,  bill  amended,  ordered  reprinted  as
   amended and recommitted to said committee
 
 AN  ACT  to amend the tax law, in relation to the imposition of taxes on
   the sale of cannabis
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 493 of the tax law, as added by chapter 92 of the
 laws of 2021, is amended to read as follows:
   § 493. Imposition of tax. (a) There is hereby imposed a tax on  adult-
 use  cannabis  products  sold  by  a  distributor  to a person who sells
 adult-use cannabis products at retail at the [following rates:
   (1) cannabis flower at the rate of five-tenths of one cent per  milli-
 gram of the amount of total THC, as reflected on the product label;
   (2)  concentrated cannabis at the rate of eight-tenths of one cent per
 milligram of the amount of total THC, as reflected on the product label;
 and
   (3) cannabis edible product at the rate of three cents  per  milligram
 of  the amount of total THC, as reflected on the product label. This tax
 shall accrue at the time of such sale or transfer. Where] RATE  OF:  (1)
 FIVE  PERCENT  OF  THE  AMOUNT  CHARGED FOR THE SALE OR TRANSFER OF SUCH
 ADULT-USE CANNABIS PRODUCTS TO SUCH RETAILER FOR TAX YEARS ENDING BEFORE
 JANUARY FIRST, TWO THOUSAND  TWENTY-EIGHT;  (2)  SEVEN  PERCENT  OF  THE
 AMOUNT  CHARGED  FOR  THE  SALE  OR  TRANSFER OF SUCH ADULT-USE CANNABIS
 PRODUCTS TO SUCH RETAILER FOR TAX YEARS BEGINNING ON  OR  AFTER  JANUARY
 FIRST,  TWO  THOUSAND  TWENTY-EIGHT  AND ENDING BEFORE JANUARY FIRST TWO
 THOUSAND THIRTY-ONE; AND (3) NINE PERCENT OF THE AMOUNT CHARGED FOR  THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08127-05-4

 S. 4831--B                          2
 
 SALE  OR  TRANSFER  OF SUCH ADULT-USE CANNABIS PRODUCTS TO SUCH RETAILER
 FOR TAX YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND  THIRTY-
 ONE;  PROVIDED THAT WHERE a person who distributes adult-use cannabis is
 licensed  under the cannabis law as a microbusiness or registered organ-
 ization AND SUCH PERSON SELLS ADULT-USE  CANNABIS  PRODUCTS  AT  RETAIL,
 such  person  shall  be liable for the tax, and such tax shall accrue at
 the time of the retail sale, AND THE AMOUNT SUBJECT TO THE  TAX  IMPOSED
 BY  THIS SUBDIVISION SHALL BE SEVENTY-FIVE PERCENT OF THE AMOUNT CHARGED
 BY SUCH PERSON FOR THE SALE OR TRANSFER OF SUCH  PRODUCTS  TO  A  RETAIL
 CUSTOMER.
   (b) In addition to any other tax imposed by this chapter or other law,
 there  is hereby imposed a tax of nine percent of the amount charged for
 the sale or transfer of adult-use cannabis products to a retail customer
 by a person who sells adult-use cannabis products at retail. This tax is
 imposed on the person who sells adult-use cannabis at retail  and  shall
 accrue at the time of such sale or transfer.
   (c)  In  addition  to the taxes imposed by subdivisions (a) and (b) of
 this section, there is hereby imposed a tax on the sale or  transfer  of
 adult-use  cannabis  products to a retail customer by a person who sells
 adult-use cannabis products at retail at the rate of four percent of the
 amount charged by such person for such adult-use cannabis product, which
 tax shall accrue at the time of such sale or transfer. The  tax  imposed
 by  this subdivision is imposed on a person who sells adult-use cannabis
 products at retail, and shall be paid to the commissioner in  trust  for
 and  on  account of a city having a population of a million or more, and
 counties (other  than  counties  wholly  within  such  a  city),  towns,
 villages, and cities with a population of less than a million in which a
 retail dispensary is located.
   (d)  The  taxes  imposed  by  this section shall not apply to sales of
 adult-use cannabis to a person holding a cannabis research license under
 section thirty-nine of the cannabis law.
   § 2. Subdivision (a) of section 496-b of the  tax  law,  as  added  by
 chapter 92 of the laws of 2021, is amended to read as follows:
   (a) The provisions of PART FOUR OF article [twenty-seven] TWENTY-EIGHT
 of this chapter shall apply to the taxes imposed by section four hundred
 ninety-three  of this article in the same manner and with the same force
 and effect as if the language of such article had been  incorporated  in
 full  into this section and had expressly referred to the tax imposed by
 this article, except to the extent that any provision of such article is
 either inconsistent with a provision of this article or is not  relevant
 to this article.
   §  3.  This act shall take effect immediately; provided, however, that
 section one of this act shall  apply  to  sales  of  adult-use  cannabis
 products  on  or  after  June  1,  2024;  and provided further, however,
 section two of this act shall  apply  to  sales  of  adult-use  cannabis
 products on or after December 1, 2024.

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Senate Bill S4831

Sponsored By

Current Bill Status - In Senate Committee Finance Committee

Feb 27, 2024 - Budget And Revenue Committee Vote

Budget And Revenue Committee Vote: Feb 27, 2024

Bill Amendments

co-Sponsors

2023-S4831 - Details

2023-S4831 - Summary

2023-S4831 - Sponsor Memo

2023-S4831 - Bill Text download pdf

co-Sponsors

2023-S4831A - Details

2023-S4831A - Summary

2023-S4831A - Sponsor Memo

2023-S4831A - Bill Text download pdf

co-Sponsors

2023-S4831B (ACTIVE) - Details

2023-S4831B (ACTIVE) - Summary

2023-S4831B (ACTIVE) - Sponsor Memo

2023-S4831B (ACTIVE) - Bill Text download pdf

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Senate Bill S4831

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Current Bill Status - In Senate Committee Finance Committee

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co-Sponsors

2023-S4831 - Details

2023-S4831 - Summary

2023-S4831 - Sponsor Memo

2023-S4831 - Bill Text download pdf

co-Sponsors

2023-S4831A - Details

2023-S4831A - Summary

2023-S4831A - Sponsor Memo

2023-S4831A - Bill Text download pdf

co-Sponsors

2023-S4831B (ACTIVE) - Details

2023-S4831B (ACTIVE) - Summary

2023-S4831B (ACTIVE) - Sponsor Memo

2023-S4831B (ACTIVE) - Bill Text download pdf

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