NY: Lack Of Tax Revenue From Medical Marijuana Attributed To Strict Regulations

0
377

Johnson City – Broome County is struggling to meet its goals of tax revenue from medical marijuana.

$1,000 is the sum of the taxes earned by Broome County in 2016 from medical marijuana sales, which is 0.11 percent of the projected $850,000 that it thought it would gain.

"We even budgeted conservatively based on those statistics thinking that it would take awhile to get it up and running, doctors to be trained, et cetera," said Marie Kalka, Director of the Broome County Office of Management and Budget.

Officials say the primary cause for the lack of revenue is strict regulations by the state.

"I think they’re recognizing the red tape that they put around these and they’re trying to loosen them up. However, that’s going to take time for that to happen," Kalka continued.

Those regulations include the types of medical marijuana sold, limited to cannabis oils and capsules, which are the two most expensive forms of medical marijuana.

There’s only one location in a 50 mile radius around Broome County to get medical marijuana, Vireo Health in Johnson City. That location is only open one day a week.

State officials are continuing to look for ways to cut the red tape and increase tax revenue from medical marijuana in Broome County.

News Moderator: Katelyn Baker
Full Article: Lack Of Broome County Tax Revenue From Medical Marijuana Attributed To Strict Regulations
Author: Nathan Hopper
Contact: (607) 729-8812
Photo Credit: None Found
Website: 12 News