senate Bill S4831

2023-2024 Legislative Session

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

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Budget And Revenue Committee


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

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 15, 2023 referred to budget and revenue

Co-Sponsors

S4831 (ACTIVE) - Details

See Assembly Version of this Bill:
A4619
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Rpld §492 sub (k), amd §§493, 494 & 496, Tax L

S4831 (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.

S4831 (ACTIVE) - Sponsor Memo

S4831 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4831
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 15, 2023
                                ___________
 
 Introduced  by  Sen.  COONEY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 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  Subdivision (k) of section 492 of the tax law is REPEALED.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
 S. 4831                             2

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