In the last two months New York Senator Jeremy Cooney has introduced two pieces of cannabis legislation that could impact New York’s cannabis industry significantly. The first is Senate Bill S7517A, which expands the definition of social and economic equity applicant under the Marijuana Regulation and Taxation Act (MRTA) to include gender equality. The second is Senate Bill S7518 to permit tax deductions for commercial cannabis activities. Let’s go through them both in detail:
Best Delta 8 Gummies
GET Best Delta 8 THC Carts Here
Shop For The Best Delta 8 For Sale Here
20% off: 5,000mg Delta-8 Tinctures
S7517A – Expanding the Definition of Social and Economic Equity Applicant
This bill expands the list of qualifying social and economic equity applicants to include “transgender, gender non-conforming and non-binary individuals.” The bill defines “transgender, gender non-conforming and non-binary individuals” as “any person who has a gender identity or expression different from the sex assigned to that individual at birth.”
Senator Cooney has repeatedly spoken about the importance of expanding qualified social and economic applicants to include transgender, gender non-conforming and non-binary individuals. The justification for the legislation explains why:
“Every New Yorker deserves the right to express and identify their gender as they choose. An unintended consequence of [the MRTA] would force certain individuals from choosing between their gender identity and receiving priority for a license. The social equity aspect of the MRTA is meant to uplift historically marginalized groups through economic opportunities in the cannabis industry and this bill furthers that effort.”
S7518 – Permitting Tax Deductions for Commercial Cannabis Activities
The language of this bill is pretty straightforward: the prohibition on deducting expenses in connection with the illegal sale of drugs shall not apply to a licensee under the MRTA. The bill expressly lists each of the license types and incorporates by references the definition of “licensee” under the MRTA. Other cannabis friendly states have passed similar tax deduction laws.
The text of the proposed bill references the underlying Federal tax law upon which the prohibition is (was) based: Section 208E of the Internal Revenue Code. We have written extensively on the subject (e.g. here, here, here, here and here). The short of it is that a cannabis business cannot deduct or credit any amount paid or incurred as part of operating its business, outside of what can be captured in “costs of good sold.”
The impact of S7518 would be significant. By allowing cannabis businesses to deduct their operating expenses at the state level, the legislation would allow them to operate like legitimate business in New York. (Note: this legislation would not change Federal tax law).
The bill’s justification section highlights two of the goals in passing the MRTA: the promotion of social equity and a competitive business environment. As stated in the justification section:
- “New York cannot realize the goals set in the MRTA for social and economic equity if the cost of doing business prevents the equity candidates from actually participating. . . If [the tax code] goes unchanged, people will be unable or unwilling to leave the legacy market for a licensed business.”
- The bill will “ensure that adult-use cannabis market will not be dominated solely by large multi-state operators who can afford to pay the higher effective tax rate.”
It is important to note that neither S7517A nor S7518 are law. But the justifications for both pieces of legislation are sound. Stay tuned for further developments in New York cannabis industry, legislative or otherwise!
Delta-8 is legal federally, and most state laws don't specifically address it. Due to ambiguities in the 2018 farm bill, which legalized hemp and hemp products, delta-8 is currently not prohibited by federal law.
In the human body, Delta-8 binds to the CB1 and CB2 receptors. Because it binds to both receptors simultaneously, users experience a milder cerebral high. When compared to the effects of THC, users describe a more clear-headed, productive, energetic, and upbeat feeling.
Difference Between Delta-8 THC and CBD Delta-8 THC may not be as prominent as Delta-9 THC, but it is still among the predominant cannabinoids with psychoactive properties. However, CBD is NOT a psychotropic cannabinoid. While CBD can have better results in the long run, Delta-8 THC can give you a quick fix.
Is it Legal to Fly with Delta-8-THC? Often, yes! It is legal to fly with Delta-8 when you are flying to and from areas where Delta-8 is legal, as long as the airline you choose doesn't specifically prohibit Delta-8 products.
Contains less than 0.3% Delta 9 THC. Good for chronic pain and anxiety relief. It does not cause paranoia or increased Anxiety.
Delta-8 is considered a Schedule 1 Controlled Substance by the US Drug Enforcement Administration (DEA) because it is known to cause psychoactive impairment to the consumer.
Delta-9 THC is a property of cannabis discovered all the way back in 1964. The primary difference between Delta-8 THC and Delta-9 THC is that Delta-8 is just a bit less psychoactive than Delta-9. This means that products with Delta-8 THC have a more gradual, and therefore more satisfying, effect on the consumer.
Although in an edible form, Delta-8 THC can metabolize into a natural chemical called 11 Hydroxy tetrahydrocannabinol. Since 11 Hydroxy THC can only be absorbed through the liver, the molecule's possible psychoactive effects can last up to 6 to 8 hours during digestion.
According to the NCI, Delta-8 uniquely binds twice with cannabinoid receptors in the nervous system that play a role in sleep by calming down processes like breath, heart rate, and mental activity.
Delta-8 THC is one of the hottest topics in cannabis right now. It's a minor cannabinoid that can get you high like traditional THC, but much less so. Delta-8 found in small amounts in the cannabis plant and is often converted from other compounds like CBD.
5 benefits delta 8 could offer you According to the National Cancer Institute, delta-8 THC can bind to the CB1 receptor throughout the body. These receptors are part of our endocannabinoid system, which helps our body regulate and maintain homeostasis.
Delta-8 is yet another compound derived from Cannabis sativa or the hemp plant. As you likely know by now, this is the same natural origin that CBD, THC, CBG, CBN, and CBC come from, too. Though all of these compounds are related to some degree, delta-8 is closest to CBD and delta-9 (also often known plainly as THC).
Delta-8 may not produce intense euphoria, but it will take effect pretty quickly. Depending on your mode of intake, of course, the time of impact will vary. If you vape it, you will experience the effects within 1 to 6 minutes. If you use a tincture, you will get the first effects after half an hour.
The Short Answer: Yes. Hemp-derived Delta-8 THC products, containing less than 0.3% D-9 THC is legal in all 50 states of the USA. But what if the extract contains more than 0.3% Delta-9 THC?
A research study from 2004 concluded that delta-8 helps increase appetite while promoting weight loss. This effect is certainly very unique, and scientists will do even more research on this subject. These effects might be due to the potential benefits delta-8 has on metabolism.
Yes, Delta 8 can make you feel hungry. Delta 8 is an appetite-stimulating analogue of tetrahydrocannabinol (or THC). Of course this depends on the amount you smoke (vapes) or consume (edibles), but Delta 8 has been reported to stimulate your appetite, in some cases, even more than Delta 9 (marijuana).
Whatever makes you laugh, Delta-8 is a great way to start the fun. In fact, we've developed Delta-8 products because we love to see people laugh.
Delta-8 THC actually converts into delta-11 THC when processed through the digestive tract. Since delta-9 THC also converts into delta-11 THC when eaten, there's no special benefit to eating delta-8 THC. In general, research suggests that delta-8 has about two-thirds of the potency of delta-9.
In the present study, we have demonstrated that Δ8-THCV exerted protective effects against liver I/R reperfusion damage by attenuating tissue injury, oxidative stress and inflammatory response.
Our Delta-8-THC Gummies — Best for Beginners They contain 10 mg of delta-8-THC per gummy, which is a great dose to start your journey into edibles with. It will give you a relaxing buzz, and you can easily increase the dosage as needed. Our delta 8 gummies are made from a broad-spectrum hemp extract.