"Under New York law, the retail tax due on discounted products must be calculated on the price before the discount is applied, specifically so as to not subvert State and local tax collections."
"Condition (b)(1) states that the offer must not result in the sale of cannabis products below market value, which is defined as one and a half times the wholesale price paid by the retailer."
New York's cannabis marketing rules permit discounts and promotions if they do not undermine tax collections. Retailers must compute taxes on the pre-discount price. Operators often miscalculate taxes, risking exposure for owners and managers. Discounts cannot lead to below-market sales, defined as one and a half times the wholesale price. For example, if a retailer pays $50 wholesale, the pre-discount price is $100, and the market value is $75. Discounts must ensure the selling price does not fall below market value.
Read at www.amny.com
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