Friday, May 27, 2022
High Yields Cannabis/Marijuana/ Weed News
  • Home
  • Cannabis Stocks
  • Cannabis Strains
  • Cannabis Laws
    • Marijuana Laws in All 50 States
    • International Marijuana Laws 2021
  • Product Reviews
  • Growing
  • Write for Us
No Result
View All Result
  • Home
  • Cannabis Stocks
  • Cannabis Strains
  • Cannabis Laws
    • Marijuana Laws in All 50 States
    • International Marijuana Laws 2021
  • Product Reviews
  • Growing
  • Write for Us
No Result
View All Result
High Yields
No Result
View All Result
Home News

New York Legalizes Adult Use Cannabis

Jeremy Vedder by Jeremy Vedder
April 1, 2021
in News
0
New York Legalizes Adult Use Cannabis

The 31st. In March 2021, New York State Governor Andrew Cuomo signed the Marijuana Revenue and Taxation Act (MRTA), which immediately legalized marijuana use by adults over the age of 21, home cultivation, and possession of cannabis. Once the law is signed this morning, previous cannabis-related convictions will be automatically expunged, the governor said.

The bill establishes the Cannabis Management Authority, which will establish and manage the regulatory system for the commercial cannabis market in New York.

READ ALSO

New York Marijuana Regulators Ask TikTok To Stop Banning Cannabis Education Advertising

California Marijuana Retailers ‘100 Percent’ Compliant In Checking IDs To Prevent Youth Access, Study Finds

The Cannabis Authority will have a five-member board that will oversee not only the adult-use cannabis market, but also the medical cannabis market and the state cannabis market, said Steve Shane, senior counsel at Hoban Law Group. For the medical market, the new legislation provides for more home workers and an expanded list of requirements.

New York Governor Andrew Cuomo
Image: Chris Rank, Flickr.

Troy Smith, deputy director of the New York chapter of NORML, says the law may not be perfect, but it’s a big win for the cannabis community. It has taken a lot of hard work and perseverance from activists, patients and consumers to go from the arresting capital of the cannabis world to the top of the world with a legalized market that focuses on equality, diversity and inclusion, Smith said. The law may not be perfect, but today cannabis users can hold their heads high and smell the flowers.

The MRTA creates a two-tier permit structure that separates cultivation and processing permits from dispensing permits. The bill includes a social justice aspect that requires 50 percent of licenses to go to minority or women-owned businesses, disabled veterans or struggling farmers, Shane said.

New York
Image: Rodrigo Paredes, Flickr …

Melissa Moore, director of the New York State Drug Policy Alliance, says she’s proud of the social justice plan that led to the passage of the law. Let’s be clear: The Marijuana Regulation and Taxation Act is a big win for the communities most affected by the failed war on drugs, Moore said. Placing community reinvestment, social justice and equity at the heart of the law sets a new standard for reform across the country. Today we celebrate, tomorrow we will work hard to ensure that this law is applied fairly and equitably for all New Yorkers.

According to Schein, the new tax structure in the bill shifts to the retail level: a 9% excise tax and a 4% local excise tax on retail prices (split 25/75% between the respective provinces and municipalities). Proceeds from the cannabis tax will be deposited in a fund, with 40% going to education, 40% to the state grant reinvestment fund, and 20% to the drug treatment and public education fund.

It appears that companies already established in the New York medical market are entering a new market for adult use, while others are beginning to apply for licensure, Shane said. While current medical marijuana licensees should be able to sell adult-use cannabis immediately, it will take up to two years for New York’s adult-use marijuana program to take off and allow sales to the general public, Shane said.

Related Tags:

new york legalization 2021 bill,latest news on legalization in ny,Privacy settings,How Search works

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0

Related Posts

Agra Ventures Announces Details of Share Consolidation
News

New York Marijuana Regulators Ask TikTok To Stop Banning Cannabis Education Advertising

May 26, 2022
PURA Farmersville Hemp Partnership Income Potential
News

California Marijuana Retailers ‘100 Percent’ Compliant In Checking IDs To Prevent Youth Access, Study Finds

May 26, 2022
Delta 8 Gummies – Complete Guide
News

Delta 8 Gummies – Complete Guide

May 25, 2022
8 SEO Tips for Cannabis Businesses
News

8 SEO Tips for Cannabis Businesses

May 25, 2022
5 Tips to Find the Best Weed Online Dispensary
News

5 Tips to Find the Best Weed Online Dispensary

May 25, 2022
Jushi Holdings Inc. to Open Its 21st BEYOND / HELLO™ Retail
News

One Month In: New Jersey Market Starts Growing

May 25, 2022
Next Post
WM Strains Madness 2021: A Flower is Crowned

WM Strains Madness 2021: A Flower is Crowned

  • Trending
  • Comments
  • Latest
Monthly Spotlight: The Best of Plain Jane CBD

Monthly Spotlight: The Best of Plain Jane CBD

April 8, 2022
The Ultimate Dr. Dabber Stella Vaporizer Review for 2022

The Ultimate Dr. Dabber Stella Vaporizer Review for 2022

April 19, 2022
volcano hybrid review 2022

The 2022 Volcano Hybrid Vaporizer Review: All You Need To Know

May 23, 2022
The Utillian 5 v3 Wax Pen Review for 2022

The Utillian 5 v3 Wax Pen Review for 2022

March 27, 2022

The 7 Best Smell-Proof Weed Bags To Keep Your Bud Stash Safe

April 27, 2022
The Best Synthetic Urine Kit to Pass Your Drug Test in 2022

The Best Synthetic Urine Kit to Pass Your Drug Test in 2022

May 23, 2022
The 10 Best Smell Proof Backpacks for Weed in 2022

The 10 Best Smell Proof Backpacks for Weed in 2022

May 5, 2022
HEXO Corp.’s Shareholders Overwhelmingly Approve Redecan

Sugarbud Announces Second Tranche Closing of Convertible

May 27, 2022
Former NFL Running Back Marshawn Lynch Launches Premium Blunt Brand

Former NFL Running Back Marshawn Lynch Launches Premium Blunt Brand

0
Major Marijuana Coalition Forms To Coordinate Legalization Push, But Some Key Advocacy Players Aren’t Involved

Major Marijuana Coalition Forms To Coordinate Legalization Push

0
MMJRecs - cannabis leaf

How Medical Marijuana Can Help Treat Sleep Disorders

0
Colorado Cannabis Sales Exceed $2 Billion in 2020

Colorado Cannabis Sales Exceed $2 Billion in 2020

0
HEXO Corp.’s Shareholders Overwhelmingly Approve Redecan

Sugarbud Announces Second Tranche Closing of Convertible

May 27, 2022
MedMen’s Tracy McCourt appointed President of West Hollywood cannabis organization

EnWave Reports 2022 Second Quarter Consolidated Interim

May 27, 2022
American Green, Inc.™ (OTC:ERBB) CBD Water with Vessl® Cap

Water Ways Reports Q1 2022 Financial Results Sales of

May 27, 2022
HEXO appoints Chief People & Culture Officer

Resonate Blends partners with California’s top licensed cannabis wholesaling platform, Nabis

May 27, 2022

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • March 2020

Categories

  • 1933 Industries
  • 4front Ventures
  • Acreage Holdings
  • Ascend Wellness
  • Ayr Wellness
  • Body & Mind
  • C21 Investments
  • Cannabis Stock Quotes & News
  • Cansortium Inc
  • Captor Capital
  • Ceres Acquisition Corp
  • Chalice Brands
  • Columbia Care
  • Cresco Labs
  • CuraLeaf
  • Gage Growth
  • Glass House Brands
  • Green Thumb Industries
  • Grown Rogue International
  • Harborside
  • Item 9 Labs
  • Jushi Holdings
  • Lowell Farms
  • MariMed
  • MedMen Enterprises
  • News
  • Next Green Wave
  • Planet 13
  • Plus Products
  • Product Reviews
  • Red White & Bloom
  • SLANG Worldwide
  • Sol Global Investments
  • TerrAscend
  • TILT Holdings
  • Trulieve
  • Verano Holdings
  • Vext Sciences
  • Vibe Growth

Recent Posts

  • Sugarbud Announces Second Tranche Closing of Convertible
  • EnWave Reports 2022 Second Quarter Consolidated Interim
  • Water Ways Reports Q1 2022 Financial Results Sales of
  • Resonate Blends partners with California’s top licensed cannabis wholesaling platform, Nabis

QR Code

New York Legalizes Adult Use Cannabis
No Result
View All Result
  • Homepages
    • Home Page 1
  • News

© 2021 High Yields