The Marijuana Regulation and Taxation Act: I’m in a New York State of Mind

Over the last few weeks we have seen a number of articles about New York’s Marijuana Regulation and Taxation Act (MRTA) written by attorneys based outside of New York or (worse yet) attorneys who are not licensed to practice law in New York. We have been pretty “vocal” about the importance of selecting the right law firm for your cannabis business. Significant consideration should be given to hiring an attorney and law firm that actually practices law in the state in which you intend to operate.

Hiring a “local” law firm is important in any state, but we cannot overstate the significance of having institutional knowledge of the issues and customs that are specific to New York. Any attorney worth their salt can regurgitate a few section headings from the MRTA and summarize the text of any given provision. That’s all well and good until the Cannabis Control Board (CCB) issues its regulations and applicants actually need real legal guidance in organizing their businesses and preparing their applications.

Let’s go through some issues that an out-of-state attorney is probably not even thinking about, let alone prepared to address. We note that the below list is a wonderful segue way into

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