New York State Department of Taxation and Finance has created a new webpage with information on the Adult-use cannabis products excise tax.

This cannabis excise tax will apply to both:

  • Distributors of adult-use cannabis products on sales of retailers, and
  • Adult-use retailers on sales to retail customers.

If you plan to sell adult use cannabis you must register with the Department of Taxation (which is in the process of developing an online registration process and other guidance.   More information is available on the NYS Department of Taxation website  (https://www.tax.ny.gov/bus/auc/)

Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm’s full disclaimer.