Andrew Cuomo signed a bill Wednesday to make New York the 15th state to legalize recreational marijuana, opening up a multibillion dollar market advocates say could address decades of racial injustices in drug policy. BROOKLYN, NEW YORK - APRIL 14: A recreational marijuana smoker indulges in smoking weed on April ... [+] 14, 2020 in the Bushwick section of the Brooklyn borough of New York City. Sales of marijuana would face a 9% state tax, a 4% local tax and an additional tax based on the concentration of the psychoactive ingredient THC. TangentThe legalization of recreational marijuana in New York, 14 other states and Washington, D.C. contradicts U.S. federal law. President Joe Biden has opposed calls to legalize marijuana at a federal level, favoring lower penalties for drug convictions instead.

Source: Forbes March 31, 2021 15:22 UTC