New York is a step closer to legalizing recreational marijuana. Bloomberg News reports lawmakers reached an agreement with Gov. Andrew Cuomo on a framework to draft legalization legislation which includes taxing pot sales at 13% with the bulk of that going to the state. According to Cuomo’s office sales of legal pot could result in $350 million of tax revenue per year once fully implemented. Lawmakers could vote on the bills as soon as next week.
Source:
https://www.bloomberg.com/news/articles/2021-03-24/deal-reached-to-fast-track-legalizing-marijuana-in-new-york