New York's first legal weed shop opens, officials hope budding industry will be tax revenue boon

of 13% on all products, the state is projecting $1.25 billion in tax revenue over the next six years, according to the New York Post.

People wait in line for the 4:20 PM grand opening of Housing Works Cannabis Co on December 29, 2022 in New York City. Legal shops will have to compete against the flourishing black market though, which has the advantage of not paying taxes. Mayor Eric Adams announced a crackdown on unlicensed establishments earlier this month.

I guess they have HIGH expectations for success

Wonder if all that tax revenue will offset the cost in paying the NYPD overtime to keep the places from being robbed at gunpoint all the time like they are here in Los Angeles...

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