Senate Bill S4831B

2023-2024 Legislative Session

Relates to the imposition of taxes on the sale of cannabis

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

co-Sponsors

2023-S4831 - Details

Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §§493 & 496-b, Tax L

2023-S4831 - Summary

Relates to the amount of tax charged for the sale or transfer of adult-use cannabis products to a retail customer; makes related provisions.

2023-S4831 - Sponsor Memo

2023-S4831 - 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  Subdivision (k) of section 492 of the tax law is REPEALED.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
              

co-Sponsors

2023-S4831A - Details

Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §§493 & 496-b, Tax L

2023-S4831A - Summary

Relates to the amount of tax charged for the sale or transfer of adult-use cannabis products to a retail customer; makes related provisions.

2023-S4831A - Sponsor Memo

2023-S4831A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4831--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 15, 2023
                                ___________
 
 Introduced  by  Sens.  COONEY,  COMRIE,  RAMOS -- read twice and ordered
   printed, and when printed to be committed to the Committee  on  Budget
   and  Revenue  -- recommitted to the Committee on Budget and Revenue in
   accordance with Senate Rule 6, sec. 8 --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 AN ACT to amend the tax law, in relation to the imposition of  taxes  on
   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)  FOR  TAX YEARS BEGINNING BEFORE JANUARY FIRST, TWO THOUSAND TWEN-
 TY-FIVE:
   (I) 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)]  (II)  concentrated  cannabis at the rate of eight-tenths of one
 cent per milligram of the amount of total THC, as reflected on the prod-
 uct label; and
   [(3)] (III) 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;

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08127-03-4
              

co-Sponsors

2023-S4831B (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §§493 & 496-b, Tax L

2023-S4831B (ACTIVE) - Summary

Relates to the amount of tax charged for the sale or transfer of adult-use cannabis products to a retail customer; makes related provisions.

2023-S4831B (ACTIVE) - Sponsor Memo

2023-S4831B (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4831--B
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 15, 2023
                                ___________
 
 Introduced  by  Sens.  COONEY,  COMRIE,  RAMOS -- read twice and ordered
   printed, and when printed to be committed to the Committee  on  Budget
   and  Revenue  -- recommitted to the Committee on Budget and Revenue in
   accordance with Senate Rule 6, sec. 8 --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee --  committee  discharged,  bill  amended,  ordered  reprinted  as
   amended and recommitted to said committee
 
 AN  ACT  to amend the tax law, in relation to the imposition of taxes on
   the sale of cannabis
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  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] RATE  OF:  (1)
 FIVE  PERCENT  OF  THE  AMOUNT  CHARGED FOR THE SALE OR TRANSFER OF SUCH
 ADULT-USE CANNABIS PRODUCTS TO SUCH RETAILER FOR TAX YEARS ENDING BEFORE
 JANUARY FIRST, TWO THOUSAND  TWENTY-EIGHT;  (2)  SEVEN  PERCENT  OF  THE
 AMOUNT  CHARGED  FOR  THE  SALE  OR  TRANSFER OF SUCH ADULT-USE CANNABIS
 PRODUCTS TO SUCH RETAILER FOR TAX YEARS BEGINNING ON  OR  AFTER  JANUARY
 FIRST,  TWO  THOUSAND  TWENTY-EIGHT  AND ENDING BEFORE JANUARY FIRST TWO
 THOUSAND THIRTY-ONE; AND (3) NINE PERCENT OF THE AMOUNT CHARGED FOR  THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08127-05-4
              

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