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Senate Bill S3261

2025-2026 Legislative Session

Authorizes distributors of cannabis products to file annual returns electronically

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Current Bill Status - In Assembly Committee

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2025-S3261 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §495, Tax L
Versions Introduced in 2023-2024 Legislative Session:
S9359

2025-S3261 (ACTIVE) - Summary

Authorizes distributors of cannabis products to file electronic returns annually instead of quarterly.

2025-S3261 (ACTIVE) - Sponsor Memo

2025-S3261 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3261
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             January 24, 2025
                                ___________
 
 Introduced  by  Sens. COONEY, HINCHEY -- read twice and ordered printed,
   and when printed to be committed to the  Committee  on  Investigations
   and Government Operations
 
 AN  ACT to amend the tax law, in relation to authorizing distributors of
   cannabis products to file annual returns electronically

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.  Subdivision (a) of section 495 of the tax law, as added by
 chapter 92 of the laws of 2021, is amended to read as follows:
   (a)  Every  person on whom tax is imposed under this article shall, on
 or before the twentieth day of the month following each quarterly period
 ending on the last day of February, May, August, and  November,  respec-
 tively,  file  electronically with the commissioner a return on forms to
 be prescribed by the commissioner, showing the total amount of  tax  due
 in  such  quarterly  period, and including such other information as the
 commissioner may require; PROVIDED, HOWEVER, THAT A DISTRIBUTOR FOR WHOM
 TAX IS IMPOSED PURSUANT TO THIS ARTICLE MAY ELECT TO FILE ELECTRONICALLY
 WITH THE COMMISSIONER FOR AN ANNUAL PERIOD INSTEAD OF A QUARTERLY  PERI-
 OD.   IF A DISTRIBUTOR ELECTS TO FILE ELECTRONICALLY FOR AN ANNUAL PERI-
 OD, THE DISTRIBUTOR SHALL FILE ELECTRONICALLY BEFORE THE  TWENTIETH  DAY
 OF THE MONTH FOLLOWING EACH YEAR ENDING ON THE LAST DAY OF DECEMBER IN A
 MANNER PRESCRIBED BY THE COMMISSIONER.
   § 2.  This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01105-01-5

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