The MRTA will place the three programs under the control of the Office of Cannabis Management (OCM), within the Division of Alcohol Beverage Control. The OCM will be led by an executive director, assisted by a chief equity officer and governed by a five-member Cannabis Control Board (the Board).
There will also be a 13-member Advisory Board to include experts in several fields including health, social equity, cannabis, and agriculture, with geographic and diverse membership.
While you're here, how about this:
Proposed Legislative Extension of Investment Tax Credits for Energy Storage Technologies | Locke
On March 9, 2021, a bipartisan group of federal lawmakers introduced the “Energy Storage Tax Incentive and Deployment Act of 2021” (the “ Act ”) which is intended to extend certain investment tax credits to standalone energy storage systems (such as batteries). The Act would provide business certainty and create a level playing field between certain standalone energy storage systems and other energy property historically eligible for federal income tax credits.
As currently drafted, Section 48 of the Internal Revenue Code of 1986, as amended (the “ Code ”), allows taxpayers a federal income tax credit for a portion of expenditures paid to place certain energy property in service (the “ Investment Tax Credit ” or “ ITC ”). Energy property, for purposes of the ITC consists of specifically listed energy-related property, including, but not limited to, certain solar projects and wind projects.
Governor Cuomo Signs Legislation Legalizing Adult-Use Cannabis | Governor Andrew M. Cuomo
Legislation (S.854-A/A.1248-A) Establishes the Office of Cannabis Management; Expands New York's Existing Medical Marijuana Program; Establishes a Licensing System; and Creates a Social and Economic Equity Program Encouraging Individuals Disproportionately Impacted by Cannabis Enforcement to Participate in Industry
Tax Collection Projected to Reach $350 Million Annually and Potentially Create 30,000 to 60,000 Jobs
Governor Andrew M. Cuomo today signed legislation (S.854-A/A.1248-A) legalizing adult-use cannabis, fulfilling a key component of his 2021 State of the State agenda. The bill signing comes after the Governor, Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie announced this past Sunday, March 28, that an agreement had been reached on the legislation.
Top 5 tax-planning and tax-saving strategies for real estate owners | Accounting Today
With the passage of so much tax legislation over the past several years, including the tangible property regulations, the Tax Cuts and Jobs Act, the CARES Act, several COVID-19 stimulus bills, and various new federal, state and local regulations, there is tremendous opportunity to implement tax-planning and tax-saving strategies for real estate owners.
When it comes to tax-saving strategies, there are many opportunities available for real estate owners as the tax landscape is ever changing. It's crucial to stay vigilant around any changes that may occur to ensure that all available opportunities are being discussed, planned and utilized where applicable.
In case you are keeping track:
Digital Taxes Are Here to Stay, Regardless of Maryland Outcome
Maryland is the first state to introduce a digital advertising tax, which only became law after the legislature overturned the governor's veto. The law now faces a federal lawsuit. George Salis of Vertex Inc. examines the Maryland statute and proposals for digital taxes in other states.
Maryland faces a difficult court battle over the legality of its digital advertising tax, the future of which hangs in the balance. But whatever the outcome in Maryland, other states have already been eyeing their own digital tax options, and the need to rebound from pandemic-related budget deficits has only accelerated the timeline.
Incentivize public power's clean energy future | TheHill
The leadership in Congress and the Biden administration have said they will address climate change in several ways, via legislation, regulations, and administrative actions. The keystone of at least one of the bills under consideration in Congress is to extend and expand current clean energy tax incentives.
Today, the most significant clean energy incentives are embedded within the tax code. The bulk of these tax incentives are direct subsidies provided in the form of credits against income tax. The congressional Joint Committee on Taxation says that, economically speaking, these tax credits are largely indistinguishable from a cash payment.
Thailand: Foreign e-service businesses liable for VAT | International Tax Review
Foreign e-commerce businesses will be liable for 7% VAT on services provided to customers in Thailand, from September 1 2021. In addition to boosting VAT collections, the law aims to create a level playing field for domestic and foreign operators providing services online to Thai customers.
Popular foreign online platforms expected to be affected include Apple, Google, Facebook, Netflix, Line, YouTube, TikTok.
New PF rule, exemption from ITR filing, new wage code, and standard insurance plans from April 1
New Rules April 1 2021: The way you save, invest, insure and pay tax will witness some key changes from the next financial year 2021-22. Some of the new rules in taxation and the re-structuring of the salary structure of employees will impact your take-home pay from April 1, 2021 . At the same time, new standard insurance products will help you in making a better buying decision. Overall, the rules and regulations are here to stay and one will have to make them work to one’s advantage.
Happening on Twitter
NY just passed the bill to legalize marijuana! Biaggi4NY (from Bronx and Westchester) Tue Mar 30 23:22:05 +0000 2021
BREAKING: New York's governor signed a bill to legalize marijuana possession and expunge past convictions. Black p… https://t.co/zJOnvwIuoG ajplus Wed Mar 31 15:14:45 +0000 2021
New York has voted to legalize marijuana. Gov. Andrew Cuomo signaled he will sign the measure. It will: • End mo… https://t.co/mGSVWfFYw5 NPR Wed Mar 31 03:16:16 +0000 2021
JUST IN: NY Gov. officially signs bill to (1) legalize cannabis and (2) expunge records for prior convictions. NY… https://t.co/4BWh6MdPLE Complex (from New York) Wed Mar 31 15:44:45 +0000 2021
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