Mar 31 New York Releases Proposed Cannabis Regulations for Conditional Retail
On March 30, 2022, New York published their proposed adult-use conditional retail dispensary regulations for its emerging cannabis market. This is an important step for the New York cannabis market as it begins the first 60-day window for public comment until it can be adopted. Applications for an adult-use conditional retail dispensary license would not be available until after the regulations have been made final.
The proposed regulations establish application requirements for initial and renewal licensure as a conditional adult-use retail dispensary. Additionally, it provides rules on how to transition out of the conditional period and what requirements and prohibitions exist for running a conditional adult-use retail dispensary. The proposed regulations also state that there is no application fee to initially apply and no fee when renewing the license.
If you are interested in opening a cannabis company and have any questions about the above, feel free to reach out to Sax’s Cannabis Advisors for more information regarding applications, newly released regulations, financial guidance, and more.
About the Author
Adam Holzberg, CPA, MBA is a Senior Manager at Sax and specializes in audits, accounting, and advisory services for closely-held companies and not-for-profit organizations. He focuses on increasing the overall operational efficiencies, financial reporting best practices, and internal controls for clients.
As a member of the Sax Cannabis Practice, Adam supports companies from seed to sale in a variety of areas including but not limited to: innovation and growth strategies, attestation services, tax compliance, and pre-licensing consulting. He also assists clients by making meaningful introductions to other advisors in the cannabis industry such as attorneys, bankers, and insurance.
Adam is also a member of the firm’s COVID-19 Recovery Task Force where he focuses on assisting clients with compliance and audit requirements for the Provider Relief Fund (PRF), as well as other relief programs and their interplay, like the Paycheck Protection Program (PPP).
Adam enjoys hiking and travel. He is married with two children.