As mid-term elections near, there is one area where Colorado Senate candidates agree with each other: marijuana businesses need access to the banking system.
When it comes to legalizing marijuana, Bob Dylan said it best: The tax times, they are a-changin.’ OK, Dylan didn’t specifically say tax times, but in the effort to move marijuana into the mainstream, proponents of legal weed are regularly touting the tax benefits. © John Munson/Star Ledger/Corbis The latest instance is in Oregon. An
Marijuana businesses scored a big victory in the House of Representatives: access to the banking industry.
Marijuana supporters had predicted much more in tax revenue during the legalization campaign.
Feds offer banks guidelines for marijuana businesses. Banks say it’s not enough.
Legitimate marijuana business owners are running into problems with the IRS and its tax code.
Cannabis business owners are struggling with being shut out of the banking industry.
Drugs have always tempted individual users. Today, they also are attractive to states and local jurisdictions facing fiscal difficulties. Several states require that dealers of various illegal drugs buy tax stamps. Now, lawmakers in more states and municipalities are looking at similar ways to make some much-needed legal money off illegal acts. The taxation of illegal drugs