New York’s 13% cannabis tax may be too high, since state has ‘one of the most sophisticated’ black markets in U.S.,

New York’s 13% cannabis tax may be too high, since state has ‘one of the most sophisticated’ black markets in U.S.,

"... some experts say the state’s 13% tax may be too high to compete with New York’s robust black market.

...The bill is strongly focused on social equity, ensuring that communities and individuals who suffered the most under the years-long “War on Drugs” can and will benefit from legalization. 

...“That sets a new bar on social equity, and it’s an important part of eliminating the black market,” said DiPisa. “You need to provide an entry point for individuals that have been involved in the industry for years. Without that, the black market will continue.”

...“It’s a step in the right direction, but it (the 13% tax) may still be too high,” said DiPisa...Read all.