Article Published by Partner David Holland in “New York Cannabis Insider”

May 18, 2023

On May 17, 2023, David Holland’s article titled “‘Potentially Deadly’ Tax Loophole Exists in New York’s Cannabis Regulations” was published in New York Cannabis Insider. The article describes a loophole in the Office of Cannabis Management’s newly issued proposed rules and regulations. As Holland states in the article,

“In short, there is risk that through the loophole, New York City may be able impose up
to $1.50 excise tax on cannabis products, as it does on tobacco products. This would
be above and beyond the 13% permitted in the Marihuana Regulation and Taxation Act

The loophole remains despite the New York City Cannabis Industry Association and the Hudson Valley Cannabis Industry Association raising the issue. Holland continues with saying,

“If unremedied, the ability to impose an excise tax on cannabis products just like
tobacco products threatens the sustainability of lawful cannabis dispensary and
delivery-based sales in the world’s largest and most sophisticated retail market – New
York City.”

Read the full article HERE. For questions, or comments, please reach out to David Holland.

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