The New York Marijuana Regulation and Taxation Act (MRTA) was passed in 2021 and legalizes recreational marijuana for adults 21 years of age or older. This law sets out a framework that will comprehensively regulate cannabis in New York State in a manner that will protect public health and safety, while promoting social equity and economic development.
Who Oversees the NY MJ Industry?
The New York Office of Cannabis Management (OCM) will license cultivators, processors, distributors and dispensaries to grow and sell recreational marijuana in New York. The Office will create a social and economic equity program to encourage small businesses and communities disproportionally harmed by disparate drug enforcement to participate in the new industry. The office will also develop rules and regulations for the adult-use industry.
New York License Types
New York has established 12 different license types related to the recreational marijuana industry. Click here to review the full list defined by the state.
New York Sale Restrictions
The regulation of marijuana sales has defined purchase limitations for consumers. Consumers 21 and over may possess up to 3 ounces of cannabis flower, or 24 grams of concentrated cannabis. These limitations are outlined in the New York Dispensary Standard Operating Procedures
Every business needs standard operating procedures to succeed and operate in a compliant manner.
We have the following New York specific marijuana SOPs:
New York Marijuana Tax
New York has 3 different tax types for the sale of recreational cannabis. There is currently a 4% local tax, a 9% state tax, as well as a tax that is calculated based on the milligrams of THC the consumer purchases. for example, edibles are taxed at $0.03 per milligram THC in the product, concentrates are taxed at $0.008 per milligram THC, and flower is taxed at $0.005 per milligram of THC.
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