Quote:
Originally Posted by kane
At the moment is the problem that pot is still illegal on a federal level and banks have insurance and other things that are regulated by the federal government, not to mention many of them have branches outside of these pot legal states. So they don't take the money for fear they could get in trouble on a federal level.
in 2014 Obama's administration cleared the way for banks to start working with pot stores, but it has proven to take longer and be more complicated than many had thought. Basically one branch of the government is saying it is okay and the other is saying it still isn't okay.
In the end, change comes slowly.
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There is still a long way to go. A major problem is that the IRS doesn't allow growers and dispensaries to have any kind of expense deductions when filing their taxes because marijuana is still a schedule 1 controlled substance.
I'd say patients should file a class action lawsuit because the lack of tax deductions inflate the price with at least 30-40%. its also likely it will increase crime rates as you can really run a "corporate" medical mmj business if you can't have any expenses.
For banks I would say you should look for one that have branches only in Oregon to avoid potential cross state business, if you or your paper trail cross state lines it's federal. I'd consults with a lawyer !