NY State Lawmakers Reach Agreement On Legalizing Marijuana
New York is a step closer to legalizing recreational marijuana. Bloomberg News reports lawmakers reached an agreement with Governor Andrew Cuomo on a framework to draft legalization legislation which includes taxing marijuana sales at 13% with the bulk of that going to the state.
According to Cuomo’s Office sales of legal marijuana could result in over $300 million in tax revenue per year once fully implemented. Lawmakers could vote on the bills as soon as next week.