New York Marijuana Consultants
Higher Yields Cannabis Consultants offers a full range of cannabis consulting services to help you navigate the New York marijuana regulations. Our vertically integrated consulting system offers a path to business success. From startup to scaling and expansion of your cannabis-related business and everything in-between our team of industry experts can help. If you have any questions please contact us online or call (844) HI-YIELD.
New York Marijuana: Status of Regulations
New York’s involvement in the battle against the prohibition of cannabis goes all the way back to only two years after the 1937 Marijuana Tax Act was originally implemented.
In 1939, the mayor of New York City, Fiorello LaGuardia, was a vehement critic of the legislation. He immediately appointed the New York Academy of Medicine to conduct a scientific study into the actual medical and social “dangers” of cannabis. The conclusions of the Academy were the same as other studies conducted since then – when used in moderation, cannabis is less harmful than society’s most popular legal drugs: tobacco and alcohol. Of course, federal drug czar Harry Anslinge promptly discredited and disregarded the Academy’s research, proclaiming it to be “non-scientific.”
New York continued to zealously crack down on the personal possession and use of cannabis, and with the passage of the Rockefeller Drug Laws in 1973, New York earned the dubious distinction of having some of the most severe cannabis laws in the entire nation.
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Current Status Of New York Marijuana Laws and Regulations
- On the 31st March 2021, The Marijuana and Regulation Taxation Act (the “MRTA”) was signed in law. This legalized New York marijuana recreational use.
- NY is anticipated to be the largest most successful adult-use cannabis market in the US. The New York marijuana market is projected to make $4.2 billion. One of the few states that’s legalization is specifically tied to economic and racial equity. It was agreed upon that 40% of state tax revenue generated from New York marijuana sales will go directly to communities that have been disproportionately impacted by the war on drugs/cannabis prohibition. People convicted of marijuana-related offenses that are no longer criminalized will have their records automatically expunged.
- New Yorkers who are 21 years old are now allowed to possess up to three ounces of cannabis for recreational use or 24 grams of concentrated cannabis, such as oils derived from a cannabis plant.
- The timeline for dispensaries to open and sales to kick off remains distant. The law doesn’t provide a specific timeline, but the first sales aren’t expected until at least 2022.
- A new state Office of Cannabis Management and Cannabis Control Board will craft and oversee the new regulations.
- We are not sure what the application is yet, but can assume NY will be a highly competitive state.
- New York will not be allowing for verticle integration if an applicant holds a retail cannabis license. “no person holding a retail dispensary license may also hold any interest in an adult-use cultivation, processor, micro-business cultivator, cooperative or distributor license”.
New York Marijuana Consulting Services
At Higher Yields Cannabis Consulting (HYC), our cannabis consultants are here to assist you with planning and building your cannabis business in New York. Our team of canna advisors are well-versed in New York marijuana laws on compliance, and we offer services that assist you in building your brand, creating your marketing plan, designing your website and assets, crafting your social media presence, and much more to help your business see success.
Contact us at (844) HI-YIELD to learn how we can assist you.
Lawmakers took full advantage of the passage of the Federal Farm Bill of 2018, and that year, they approved the allocation of 3,500 acres for the cultivation of industrial hemp. Hemp production continues to increase and shows the promise of becoming an increasingly valuable revenue resource.
Call Higher Yields Cannabis Consulting Today
Higher Yields Cannabis Consulting specializes in assisting investors, entrepreneurs, and established businesses within the cannabis industry. Since 2008, we’ve helped marijuana businesses of all types get the qualified assistance and advice they need to thrive in this highly competitive industry. Contact us today to find out how we can help you.
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