BABYLON, N.Y.- Babyloncannabis dispensariesare raking in big bucks on Long Island. So far,there are only two brick and mortar cannabis shopsthere, and they're both in the town of Babylon. Babylon's Town Supervisor Richard Schaffer is counting the cash, and putting its tax revenue proceeds ...
Beginning on or after December 31, 2024, taxpayers can file amended returns if it does not reduce or eliminate a past-due tax liability. Additionally, taxpayers who submit false information on adult-use cannabis sales tax returns to reduce or eliminate a tax liability can face penalties of up...
Dec 5, 2024 | Firm News Managing Partner Roger Barton Speaks to ACC Mexico on Commercial Litigation in the U.S. On December 5, 2024, Managing Partner Roger Barton served as a panelist for the Association of Corporate Counsel’s Mexico chapter on the topic of Commercial Litigation in the U...
The additional revenue will be used to fund the state’s public transportation system. With the passing of this new tax, NJ will have the highest corporate tax rate in the US. If you have questions about whether your business is subject to the additional 2.5% surtax, please reach out to ...
“To bolster the public health and safety of all New Yorkers, we are providing them with information they need to make informed decisions and enjoy cannabis responsibly,” Governor Hochul said. “As we continue to build a healthier and more equitable cannabis market, I am proud to launch this...
In 2021, the federal government spent $2.48 on New Mexico for every dollar of tax revenue collected from the state, higher than every state except Kentucky.[279] The same year, New Mexico received $9,624 per resident in federal services, or roughly $20 billion more than what the state ...
Cuomo cited unjust enforcement of laws regarding possession of the drug that disproportionately affected young people of color and financial benefits. The third-term Democratic governor also said he believed New York could collect as much as $300 million in tax revenue should the state legali...
While most physical items and services are subject to these general sales tax rules, separate rates may be applied to the sale of certain specific goods, such as cannabis, alcohol, tobacco, and real estate transfers. You can file your LLC’s sales and use taxes online using the Department ...
New Mexico would become the first U.S. state to set up its own government-operated marijuana stores and subsidize medical cannabis for the poor under a bill brokered between Republicans and Democrats, as a new wave of states weighs legislation that would
The budgetary issues come as legalization has delivered a tax revenue windfall to Colorado since it took effect a year ago. The suit calls for the Obama administration to enforce the Controlled Substances Act, which maintains a federal ban on marijuana, in Colorado. So far, Holder and Presiden...