Exempts certain property and services used in the cultivation of cannabis for adult-use from sales and compensating use taxes.

New York Assembly Bill A04783 amends the tax law to exempt certain property and services used predominantly in the cultivation of cannabis for adult-use from sales and compensating use taxes. This applies to tangible personal property used in farming, commercial horse boarding operations, or cannabis cultivation under specific licenses. The bill allows for the computation of use either by mileage or hours, at the discretion of the purchaser or user. It also permits the purchase of qualifying motor vehicles without paying certain taxes, provided an exemption certificate is furnished.

Exempts certain property and services used in the cultivation of cannabis for adult-use from sales and compensating use taxes.

New York Assembly Bill A04783 amends the tax law to exempt certain property and services used predominantly in the cultivation of cannabis for adult-use from sales and compensating use taxes. This applies to tangible personal property used in farming, commercial horse boarding operations, or cannabis cultivation under specific licenses. The bill allows for the computation of use either by mileage or hours, at the discretion of the purchaser or user. It also permits the purchase of qualifying motor vehicles without paying certain taxes, provided an exemption certificate is furnished.