On March 31, Governor Andrew Cuomo signed into law the New York State Marijuana Regulation and Taxation Act (“MRTA”) which legalized recreational use of marijuana for adults over the age of 21. Although retail sales of marijuana are not expected to begin until 2022, the legalized use of marijuana became effective immediately.
The Harris Beach Cannabis Industry Team of attorneys is hearing from a number of organizations looking to tap into the burgeoning market in New York state – from large-scale growers to retail dispensaries, to beverage producers and delivery operators of all sizes.
This episode features two attorneys from the team – Karl Sleight and Meaghan Feenan – as well as Morgan Hopkins, a CPA at DeJoy, Knauf and Blood and the director of its Hemp & Cannabis Services. Together they address frequently asked questions that have come up during conversations with organizations throughout the state and beyond. Questions included:
Can businesses and individuals apply for a license right now? How much does a license cost?
As an organization works through a business plan, what kinds of items should they include that would not normally be included?
What are the next steps for municipalities as they make opt-in or opt-out decisions?