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The MRTA: a New York business acronym with tremendous implications

On Behalf of | Nov 2, 2019 | Business Law

States across the country are revising — in some cases dramatically adjusting — their laws concerning marijuana oversight and regulation. Some focus primarily on key decriminalization aspects relevant to cannabis manufacturing, possession, use and sales. Others seek to adjust current marijuana schemes in a manner that will optimally promote legitimate business activities.

New York’s pending MRTA program prominently takes into account both of those objectives.

In fact, the Marijuana Regulation & Taxation Act espouses a legal philosophy that is unquestionably bold and forward-looking on multiple fronts.

From a criminal law perspective, the changes called for by the MRTA are vast and material. The legislation spotlights greatly liberalized enforcement policies that yield fines for many acts previously resulting in arrests and criminal conviction. Juveniles are especially spotlighted in the MRTA, which permits no possibility for anyone under the age of 21 using marijuana to be pegged with a criminal record.

The business-linked changes tied to the MRTA are truly monumental, and something we understandably underscore for potential and current clients at the tenured Tarantino Law Firm in Buffalo.

Indeed, the legislation centrally promotes broad-based marijuana-connected commercial activities for legions of entrepreneurs and established business principals.

An initial point to note concerning the MRTA’s statutory scheme is its contemplated micro-licensing structure. That platform disfavors limited business entry for only large players, stressing instead participation (in areas widely ranging from growth and production to sale and delivery) by an expansive pool of commercial entrants.

The MRTA is robust and singular legislation that promises material new opportunities to New Yorkers in an expanding business realm. Tarantino Law Firm’s deep legal team can answer questions concerning the MRTA’s statutory process and guidelines and knowledgably serve as legal counsel for individuals and businesses seeking to explore new commercial prospects.

We will dive into the key details of the MRTA in our next blog post, spotlighting specific rules, licensing parameters, application policies and more.

We welcome readers’ contacts to the firm.

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