The New York cannabis market is projected to be the ‘California of the East’ despite its size. Cannabis in New York is projected to not only have a national impact, but a global one as well because New York is one of the most visited cities in the world.
Medical Use: Yes
Adult Use: Yes
The New York cannabis market is expected to be equivalent to California’s cannabis market. There is great potential for social equity applicants.
Since vertical integration is required, the licensing fees are extremely high.
Competition in New York is expected to be rather high due to the state’s population size and density.
The tax structure is low compared to other legalized states. The Office of Cannabis Management will be taking over the medical cannabis market and will incorporate the adult-use market.
New York Cannabis Details
421 sq. miles
2020 Medical Sales
2022 Projected Medical Sales
2020 Adult Use Sales
2022 Projected Adult Use Sales
New York State Department of Health (medical) and Office of Cannabis Management for adult-use and medical once regulations come into effect
# of Dispensaries (allowed/issued)
Registered Organization Licenses - 40 storefronts currently open for medical cannabis
# of Cultivators (allowed/issued)
NA – Encompassed by dispensary
# of Manufacturers (allowed/issued)
# of Testing Labs (allowed/issued)
Combined Tax Rate
Retail Sales Tax
Retail: 9% | Medical: 7%
Local Sales Tax
State Sales Tax
Recreational: 9% | Medical: 7%
Licensing Fees (per year)
*Varies based on gross revenue