Is There a New York Marijuana Tax?

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    • #13030
      gurug
      Participant

      Is there a tax in New York, and if so, how much is it?

    • #13593
      sohigh
      Participant

      Actually, there isn’t any Marijuana tax in New York, but if there were one, according to huffington post it would be about 15 percent excise tax on marijuana that could be used for medical or recreational purposes. New York would generate approximately $248 million, and if all 50 states legalized marijuana they would generate approximately $3 billion a year in taxes!

    • #13594
      Richie
      Participant

      Registered organizations that have a state license to produce and dispense medical marijuana pay an excise tax of 7% directly to the state. Of this 7%, 22.5% goes to county were the medical marijuana was produced and 22.5% goes to county were the medical marijuana was dispensed. 5% goes to Office of Alcohol and Substance Abuse Services for prevention, counseling and treatment services. 5% goes to the Department Criminal Justice Services for discretionary grant program related to enforcement of the this title.

    • #13595
      sankarit14
      Participant

      New York does have a tax for the purchase of Marijuana. The tax is currently 7%, the counties where the stores are located will receive 22.5 percent of that revenue. This tax is what helps New York state make money to fund it’s many programs and projects across the state, specifically the counties where the consumers can purchase this medical marijuana.

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