Authorizes distributors of cannabis products to file annual returns electronically

Latest action Feb 25, 2026

Authorizes distributors of cannabis products to file electronic returns annually instead of quarterly.

Not chosen yet

Where it stands

Passed one of the two chambers; it still needs the other.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Amends the Tax Law.

Committee

Investigations And Government Operations · New York State Senate

Also referred to Ways and Means · New York State Assembly.

Purpose, from the sponsor's memo

Section 1: Subdivision (a) of section 495 of the tax law is amended. Section 2: Establishes the effective date.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Floor vote
NY SenateFeb 25, 2026Result: passed
(44) (14) (0) (5)
Vote: Committee vote · Investigations And Government Operations
Senate Investigations And Government OperationsFeb 10, 2026Result: passed
(5) (2) (0) (0)
Vote: Floor vote
NY SenateMay 28, 2025Result: passed
(49) (12) (0) (2)
Vote: Committee vote · Investigations And Government Operations
Senate Investigations And Government OperationsMar 17, 2025Result: passed
(6) (1) (0) (0)

Cosponsors

Michelle Hinchey

Democratic1

Michelle Hinchey

See the full list on nysenate.gov

The sponsor's argument

Why Jeremy Cooney says this is needed

Under current law, the cannabis excise tax is paid quarterly by cannabis cultivators and processors to the NYS Department of Taxation and Finance. This excise tax payment schedule creates situations where prod- uct producers and processors often owe taxes before the product is sold to consumers. This legislation changes the tax collection payment sched- ule by allowing the payment annually rather than quarterly, similar to what is now allowed for the alcohol excise tax. The slow opening of cannabis dispensaries, due to multiple factors, has created a backlog of products on processors shelves, which have yet to be sent or sold to retailers, yet the tax is still owed. Another factor creating stress on the processor's ability to pay the excise tax, is that some retail dispensaries are delinquent in paying for products they have received . There is a prompt payment provision in the cannabis law, but, due to many factors the provision is not being enforced. By allow- ing the tax to be collected annually it will allow flexibility in the market as it matures and provides a financial lifeline to currently struggling producers and processors.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

Feb 25, 2026
Sent to the executive
DELIVERED TO ASSEMBLY
NY Senate
Feb 25, 2026
Passed a chamber
PASSED SENATE
NY Senate
Feb 25, 2026
Referred to committee
REFERRED TO WAYS AND MEANS
NY Assembly
Feb 24, 2026
Advanced to Third Reading
ADVANCED TO THIRD READING
NY Senate
Feb 11, 2026
2ND Report CAL.
2ND REPORT CAL.
NY Senate

Show full history (10 earlier events)

Feb 10, 2026
1ST Report CAL.344
1ST REPORT CAL.344
NY Senate
Jan 7, 2026
Died in Assembly
DIED IN ASSEMBLY
NY Assembly
Jan 7, 2026
Referred to committee
REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
NY Senate
May 28, 2025
Sent to the executive
DELIVERED TO ASSEMBLY
NY Senate
May 28, 2025
Passed a chamber
PASSED SENATE
NY Senate
May 28, 2025
Referred to committee
REFERRED TO WAYS AND MEANS
NY Assembly
Mar 19, 2025
Advanced to Third Reading
ADVANCED TO THIRD READING
NY Senate
Mar 18, 2025
2ND Report CAL.
2ND REPORT CAL.
NY Senate
Mar 17, 2025
1ST Report CAL.551
1ST REPORT CAL.551
NY Senate
Jan 24, 2025
Referred to committee
REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
NY Senate

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Nov 1, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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