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Medical marijuana taxes net $1 million

Jan 20, 2017 12:04 am
Dan Goldberg reports in Politico New York that New York State made $1 million in revenue from the medical marijuana excise tax in 2016, the first year since the state allowed certain patients access to the drug. Gov. Andrew Cuomo's budget last year estimated the program would bring in $4 million from the seven percent excise tax. The state's new budget and three-year projections now project $1 million in taxes annually from the tax. The state Department of Health has slightly expanded access for patients, in the past year, but the program only allows patients with a few conditions to purchase medical marijuana. Currently, 12,000 patients are certified to receive medical marijuana in New York. Read the full story in Politico New York.