Cannabis Taxes in NYS Article
Article Published Date: April 2, 2022
Kara Cline, a Director for EFPR Group, co-authored an article about Cannabis Taxes in New York State for NYSSCPA. The article highlights the tax consequences for the use of marijuana stated under the Marijuana Regulation and Taxation Act (MRTA), Article 20-C. Included are:
- Charts of estimated tax rates and final retail costs,
- IRC Section 280E rules,
- Section 471 surrounding general rules for inventories, and
- How New York State cannabis tax rates compare to those other states in the nation.
To read this article, please go here: http://www.nysscpa.org/news/publications/the-tax-stringer/stringer-article-for-authors/cannabis-taxes-in-new-york-state-how-high-is-too-high
Please be advised, these rules and regulations are continually changing. To connect with one of our Cannabis team members or review a list of services we can assist with, please visit our Cannabis & Hemp page: https://efprgroup.com/client-sectors/cannabis-hemp/
For more information on how we can help your cannabis or hemp business succeed, please contact us today!