assembly Bill A4619

2023-2024 Legislative Session

Relates to the imposition of taxes, registration and records of the sale of cannabis; repealer

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Sponsored By

Current Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 17, 2023 referred to ways and means

Co-Sponsors

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A4619 (ACTIVE) - Details

See Senate Version of this Bill:
S4831
Law Section:
Tax Law
Laws Affected:
Rpld §492 sub (k), amd §§493, 494 & 496, Tax L

A4619 (ACTIVE) - Summary

Increases the tax from nine to sixteen percent of the amount charged for the sale or transfer of adult-use cannabis products to a retail customer; removes requirements that records reflect the total amount of THC content of the adult-use cannabis products sold to or produced by persons who sell such products; makes related provisions.

A4619 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4619
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 17, 2023
                                ___________
 
 Introduced by M. of A. PEOPLES-STOKES, LUPARDO, WOERNER -- read once and
   referred to the Committee on Ways and Means
 
 AN  ACT  to  amend  the tax law, in relation to the imposition of taxes,
   registration and records of  the  sale  of  cannabis;  and  to  repeal
   certain provisions of such law relating thereto

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.  Subdivision (k) of section 492 of the tax law is REPEALED.
   § 2. Section 493 of the tax law, as added by chapter 92 of the laws of
 2021, is amended to read as follows:
   § 493. Imposition of tax. (a)  [There  is  hereby  imposed  a  tax  on
 adult-use  cannabis products sold by a distributor to a person who sells
 adult-use cannabis products at retail at the following rates:
   (1) cannabis flower at the rate of five-tenths of one cent per  milli-
 gram of the amount of total THC, as reflected on the product label;
   (2)  concentrated cannabis at the rate of eight-tenths of one cent per
 milligram of the amount of total THC, as reflected on the product label;
 and
   (3) cannabis edible product at the rate of three cents  per  milligram
 of  the amount of total THC, as reflected on the product label. This tax
 shall accrue at the time of such sale or transfer. Where  a  person  who
 distributes  adult-use  cannabis is licensed under the cannabis law as a
 microbusiness or registered organization, such person  shall  be  liable
 for the tax, and such tax shall accrue at the time of the retail sale.
   (b)]  In  addition  to  any other tax imposed by this chapter or other
 law, there is hereby imposed a tax of  [nine]  SIXTEEN  percent  of  the
 amount  charged  for the sale or transfer of adult-use cannabis products
 to a retail customer by a person who sells adult-use  cannabis  products
 at  retail. This tax is imposed on the person who sells adult-use canna-
 bis at retail and shall accrue at the time of such sale or transfer.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08127-02-3
 A. 4619                             2