In an interview with CNBC, New York City Comptroller Scott Stringer estimated that New York state would see $435.7 million per year from adult-use cannabis tax revenues; while New York City would net about $336 million.

“This is a new revenue stream. This is going to impact the kinds of resources we’ll have to invest in education, to invest in healthcare.” – Stringer, on “Power Lunch”

All said, Stringer outlined a $3.1 billion market. Stringer said there are 15.1 million adults living in New York state, with 6.5 million of them residing in NYC. He estimates that between 8 and 10 percent use cannabis recreationally – about 1.5 million users throughout the state, or 548,000 people in the city, the report said. Stringer suggested that cannabis consumer would spend about $2,080 per year on cannabis.

Are the tides turning in the Empire State? The state Democrats plan to add cannabis legalization to their platform at their upcoming convention. Gov. Andrew Cuomo, the de facto head of the party and longtime legalization opponent, has appeared to soften on his position, conceding last month that “it’s going to be [in New York] anyway.” His likely primary challenger, actress and activist Cynthia Nixon, is all-in on supporting legalization. At least one potential Republican candidate, former Erie County executive Joel Giambra, has pitched legalization tax revenues as a way to address the state’s infrastructure problems.

A February Sienna College poll found 56 percent of New York voters support cannabis legalization.

Do you own a cannabis industry business? Create a listing in our directory and get discovered by new clients - Click Here
.

Tags: , , , | Categories: Cannabis Politics Recreational Cannabis News

Learn about cannabis businesses:

View the directory | Get featured here

  • The Canna CPAs

    Our mission is to help Cannabis owners save money! We accomplish this through a myriad of ways that includes strategic tax planning, proper GAAP cost accounting, and comprehensive back up documentation and work papers. Your success is our success! Our goal is to exceed your expectations through our qualitative expertise and outstanding customer service in the cannabis space.

  • HempStaff

    HempStaff is an industry leader in Marijuana Industry Recruiting and Dispensary Training. We strive to find the perfect match for Employers and Employees in the Cannabis Industry. From Dispensary Managers and Master Growers to Cannabis Chefs and Trimmers, we find the right match for both our clients and candidates. We are currently working with marijuana business owners across America to help them locate qualified employees as well as providing Dispensary Training for the entry level employee in states with new markets.

  • HerbTools

    HerbTools is one of the largest online head shops specializing in all varieties of smoking accessories. Our bong shop has been distributing products worldwide at competitive rates since 2012. Customer service has always been our key priority and we ensure our products reach every customer in impeccable condition.

  • TRIM Media House

    TRIM Media House is a full-service digital marketing agency with a heavy focus in visual content creation, website design, photography, and videography. If you are trying to navigate the digital arena when it comes to your brand, we would love to talk to you!

  • The Hybrid Creative

    We are an award-winning, full spectrum creative agency with expertise in cannabis and eCommerce. We have supported the creative strategy and successful growth of cannabis brands such as Care by Design, Korova, Bhang, AbsoluteXtracts, Wildflower, and BDS Analytics. Website design and development, company and product naming, logo design, brand development, brand strategy, packaging, labeling, marketing collateral, sales tool kit collateral, digital marketing strategy, and social media support are a few of the many services we offer. If you’re looking for an experienced, forward-thinking, creative agency with a proven track record of success to elevate your brand and empower your success, welcome to The Hybrid Creative!

  • Ganjapreneur.com

    Ganjapreneur is a news and networking resource for cannabis professionals. Our ultimate mission is to help the cannabis industry grow, by advancing the cause of cannabis normalization through responsible business.

  • IndicaOnline

    IndicaOnline is the most trusted Point-of-Sale software in the Medical Marijuana Industry across the U.S. and Canada. Founded in 2010, IndicaOnline combines an intuitive iPad POS software, a user-friendly interface, and an all-in-one hardware unit to accommodate every aspect of a medical marijuana business.

  • Distru

    Software built to streamline distribution and manufacturing. Distru provides inventory, order, and customer management for cannabis companies in a centralized platform.

  • Cannabis Accounting Group, a CWSEAPA Company

    We believe that what sets us apart from other accounting firms, is working within the Tax Code to find a way around the oppressive Section 280E Rules.

  • New Approach Bookkeeping LLC

    We have been providing financial support since 2013 for Cannabis Growers/Producers, Retailers/Dispensaries, Delivery, Processors, and all those in between. We understand 280e and 263a publications and how it affects the cannabis industry.

  • Releaf App

    The Dispensary Partnership Program uses data collected from patients, via Releaf App, to provide business analytics to dispensaries (USA) and licensed producers (Canada). This data service is creating a new class of dispensaries that are driven outcomes and patient results. The dispensary partnership program shows symptom-specific patient ratings & analytics for the specific cannabis batches and products in a dispensary’s inventory. Dispensaries use this information to give more informed recommendations at the counter.

  • LC Solutions Michigan PLLC

    LC Solutions offers clients timely accrual based bookkeeping, cost accounting strategies, planning, and consulting services. Our model supports an ongoing client relationship, helping to ensure accurate accounting records throughout the year. We are professional, patient, and creative in our approach. LC Solutions specializes 100% in serving Michigan’s Medical Cannabis industry.

Want a job in the cannabis industry?

Sign up to apply for unlimited jobs and get discovered by companies who are hiring

Post Your Resume View all jobs

Recent Job Postings

Subscribe for daily cannabis news, announcements, and business insights.

Stay informed about the latest cannabis industry news, policy progress, and business developments.