UPDATE: NY Legislators Fast Track Legalization of Recreational Marijuana
UPDATE on 4/4/21:
It’s official: recreational marijuana use for adults. Governor Cuomo signed legislation on Wednesday that the Senate and House passed less than 24 hours earlier. Those over the age of 21 can possess up to 3 ounces of pot outside the home and people can grow their own cannabis with a limit of 6 plants per household. Marijuana will be taxed at 13% with 3/4 of that going to the state.
POSTED on 3/31/21:
" target="_blank">according to Governor Cuomo's Office. The legislation taxes on marijuana sales will be 13%, with the bulk of that going to the state. Sales of legal marijuana could result in around $350 million in tax revenue per year, once fully implemented which is expected to take up to 2 years. In addition, Cuomo says this industry could create as many as between 30,000 to 60,000 new jobs across the State.
The bill now goes to the governor’s desk for his signature which he says he will eagerly sign.