Suicide by taxes. Cuomo’s cannabis proposal charges cultivators $448 in taxes to sell a pound of legal cannabis.
Mind you, in places like Oregon, pounds were recently selling for less than $1000...
Also, home-grow would be prohibited unless you’re a medical patient, who would only be permitted to grow up to 4 plants.
"Under the proposal, there would be three levels of taxes. A 20 percent tax would be imposed on cannabis sold by any entity to a retailer. Cultivators would be taxed at $1 per dry weight gram for flower, trim would be taxed at $0.25 per dry weight gram and wet cannabis would be taxed at $0.14 per gram. Local jurisdictions with a population of at least one million people that allow marijuana businesses to operate would receive revenue from a separate, two percent tax."
This plan will definitely make money for the State of New York. No question.
But it will also DEFINITELY bolster a robust black market for growers, manufacturers and most critically, shoppers.
It’s short-sighted decisions like these that cause well intended ideas to flop.
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