New York Bill S8749 Would Extend Quarterly Cannabis Tax Filing Deadlines for Distributors

8 January 2026

New York lawmakers are considering a tax-timing adjustment for cannabis distributors, a move supporters say could help businesses keep up with quarterly obligations while the legal market continues to mature.

Senate Bill S8749, introduced by State Senator Jeremy Cooney, would amend New York’s tax law to extend the filing deadline for quarterly cannabis tax returns. Under current law, distributors must file by the 20th day after the end of each quarterly reporting period. The proposal would move that deadline to the 50th day after each quarter ends.

The bill spells out the reporting calendar in plain terms. Quarterly periods end on the last day of February, May, August, and November, and under S8749 the associated returns would be due 50 days after each of those dates. The returns would still be filed electronically with the state tax commissioner, and they would still need to report the total tax due for the quarter, plus any additional information the commissioner requests.

Supporters frame the bill as a cash-flow fix rather than a tax cut. In the sponsor’s justification, the quarterly excise tax schedule can require cultivators and processors to pay taxes before product is actually sold to consumers. The memo also points to the slow opening of dispensaries, saying it has contributed to a backlog of inventory that remains on processors’ shelves even as quarterly tax bills arrive. The bill’s fiscal note says the change would have no annual fiscal implications because taxes would still be paid in full, only later.

A similar measure in 2025, identified as S8091, was vetoed, and the new bill does not propose changing tax rates or who must comply. Instead, it focuses on aligning the timing of filings more closely with other state tax deadlines and giving distributors more time to reconcile sales and reporting data.

The proposal has been referred to the Senate Investigations and Government Operations Committee. If it passes the Legislature and is signed into law, the change would take effect immediately. For businesses operating in New York’s legal cannabis market, which has expanded rapidly since adult-use legalization in 2021 and the start of retail sales at the end of 2022, the impact would likely show up in the timing of quarterly paperwork and payments, not in the size of the tax bill itself.