NY to Study Full Cannabis Legalization

Marijuana Legalization May Be Coming to New York Sooner Rather Than Later

It found 62% of registered voters support legalizing marijuana for people 21+ in NY and 28% oppose it.

"The elimination of full state and local deductibility rolls back a basic tenet of federal tax law that has been part of the modern federal income tax since it was created in 1913, more than a century ago", the report states. He says a study will be released soon that explores converting the state income tax to a payroll tax and substituting charitable donations for local property taxes. Washington D.C., Massachusetts, and ME have already legalized marijuana, and Vermont is poised to do the same.

There are pockets of support for marijuana prohibition within the Democrat-controlled state legislature. One chamber of New Hampshire's legislature passed a marijuana legalization bill, and talks in Delaware, Rhode Island, and CT have been gaining steam. Others, like New Jersey, are considering legalization through legislation as opposed to voter referendum.

Kathryn S. Wylde, president and CEO of the Partnership for New York City business group, said the effort while complex is worthwhile.

"The federal changes basically attack our income tax structure", Cuomo said.

The Governor's study is still just a proposal at this point.

The governor has previously expressed opposition to legalizing cannabis. "There's two sides to the argument".

Nuuvera and Globalive Technology Partners to Bring Blockchain to the Global Cannabis Industry

"As of this date, I am unconvinced on recreational marijuana", Cuomo told reporters previous year. State Republican Party Chairman Ed Cox was less diplomatic, saying Cuomo should look for ways to cut existing taxes rather than pursue a "ridiculous and unrealistic payroll tax that will only harm the state's economy further".

A Siena poll in November put Cuomo's favorability rating at 52 percent.

Of course, marijuana-tax revenue could not close that deficit by itself.

But, as Cuomo's study will likely find, the case for legalizing marijuana is plenty strong, irrespective of its fiscal benefits.

Should this move from the black market to the public market, you might see miller behind the counter. Bringing weed into the legitimate economy would take a major profit source away from violent drug cartels, while allowing American cops to spend less time disrupting the lives of soft-drug users and more time policing violent crime - in 2014, there were 700,993 marijuana arrests in the USA, roughly 90 percent of which were attributed exclusively to possession.

The governor also wants to know what impact marijuana would have on the criminal justice system. Minor differences include a longer lead time for generators if DEC determines capacity is available in 2020, a 10-mile reduction in the processing exemption radius and more specific details about temporary waivers being available if recycling proves more expensive than disposal.

And multiple studies have found that when states expand access to legal marijuana, declines in painkiller abuse and related overdoses follow. Now the state permits the sale of cannabis only for medical reasons.



Other news