Cannabis Manual: Banking on marijuana

money plant

After years of growth, the medical and recreational cannabis markets have become a major economic force in our nation, but these business owners still face the problem of finding a bank that will take their money.

This translates to an irritation for patients who have to pay for cannabis with cash in what is mostly a digital society and an outright danger for dispensaries that must sit on piles of cash—painting targets on their backs for criminals. It also causes headaches for business owners in areas the layman might not consider, like figuring out how to pay employees and keep track of your finances, or having to pay more for in-store security and armored cash delivery services. For the IRS and state tax and revenue department it means trusting dispensaries to honestly report their earnings. And according to Rep. Mark Amodei of Nevada, it makes

... read more at: https://alibi.com/cannabis/58200/Money-Troubles.html

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