Is weed legal in NY in 2022? After all of the progress we’ve seen over the last year, New York weed cannabis laws are on everyone’s mind.
The state’s medical marijuana program has been in place for years now. However, with New York’s efforts to legalize recreational marijuana, adult-use cannabis businesses are expected to get the green light rather soon.
So, is weed legal in NY? Yes. But what does this mean for New Yorkers interested in starting cannabis endeavors? And how does legalization impact NY consumers?
Keep reading to learn more about cannabis legality in NY and how it’ll affect cannabis entrepreneurs and consumers.
Looking to structure and scale your cannabis business in New York? Northstar is ready to help!
Contact us now to speak with one of our experts about how we’ll use financial reporting and data to grow your operation.
Is Recreational Weed Legal in NY?
Recreational weed is legal in NY, and now that it is, we expect this emerging legal cannabis marketplace to take off. The regulations being constructed at this point will protect consumers and make sure legal operations adhere to production, distribution, and consumption standards.
New York is also focusing on social equity and social health. For business operators, this means compliance is a must. Thus, those who operate legal recreational cannabis dispensaries in NY will have to see what the Cannabis Control Board requires.
After becoming the 15th state to legalize cannabis for recreational purposes, New York put the NY Office of Cannabis Management in charge of developing the state’s legal cannabis marketplace. This office passed the Marijuana Regulation and Taxation Act (MRTA) to provide a comprehensive regulatory structure for overseeing licensing, production, sales, taxation, and cultivation for the legal medical, cannabinoid hemp, and adult-use marijuana industries.
The MRTA aims to accomplish the following:
- Create the Office of Cannabis Management.
- Grow the state’s existing medical marijuana program.
- Create a licensing system.
- Implement a social and economic equity program to encourage those who have been impacted by the War on Drugs to join the industry.
- Tax collection achieves or goes beyond $350 million each year and creates between 30,000 and 60,000 new jobs in New York’s cannabis industry.
Thinking about opening a dispensary in New York? Give our post “How to Open a Dispensary in New York” a quick read.
What Happens If You Get Caught With Weed in NY?
So, what happens if you get caught with weed in NY? That all depends on how much you have on you (and the intent, of course).
Fines of as much as $1,000 and jail for up to one year are possibilities. However, if you have beyond eight ounces on your person, you’ll face a felony charge. For those carrying more than eight ounces but less than a pound, you’ll have to pay a $5,000 fine with a potential prison sentence of four years.
While personal use of cannabis is no longer a priority in NY, having large amounts with the intent to distribute on the illicit market is still a serious crime. Ultimately, the punishment for getting caught with weed in NY is connected to the amount a person has on them.
At this point, adult cannabis consumers at least 21 years of age can possess up to three ounces legally.
So, Is Weed Legal in NY?
So, is weed legal in NY? Yes, it is. And as we see this emerging legal marketplace begins to take shape, we’ll continue to update you on the latest news and regulations.
To wrap it up, cannabis is now legal in NY for recreational purposes. This means that adults 21 and older can possess up to three ounces of cannabis.
The state is also focusing on social equity and social health, which means that businesses must comply with regulations. This is where financial reporting and tracking are essential for success.
Operating a cannabis business in New York and looking to scale? Northstar is ready to help!
Contact us now to speak with one of our experts about how we’ll use financial reporting, tracking, and data to grow your operation.