• Re: Cannibis

    From Moondog@VERT/CAVEBBS to Ogg on Thursday, July 16, 2020 20:43:00
    Re: Re: Cannibis
    By: Ogg to All on Wed Jul 15 2020 10:17 pm

    Hello Moondog!

    ** On Wednesday 15.07.20 - 14:36, moondog wrote to MRO:

    ... Another issue was all the sales w ere in cash because he couldn't bank his money in federal banking institutions because the feds didn't recognize it as legaly acquired money. Imagine having $50-100k in cash sitting around, and everyone knows it?

    The feds were not interested to collect the taxes on it? Interesting.


    I have no idea how the the dispensary rules are, or whether they can store money in a federally insured bank.

    In Canada, the feds are very much in control of the "approved"
    dispensaries. Every purchase is tracked and must be accounted for.

    I'm sure the Feds would like to collect money from it, but it is considered
    at the federal level an illegal controleed substance. It's legal at the sate level because individual states reserve certain rights

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  • From MRO@VERT/BBSESINF to Moondog on Friday, July 17, 2020 17:34:04
    Re: Re: Cannibis
    By: Moondog to MRO on Wed Jul 15 2020 02:36 pm

    office complex to perform his sales out of. He could've worked from home, but didn't want the wierd or sketchy customers coming around his family at home. There were stories going around about dealers getting robbed, and he didn't want to put his family in harms way. Another issue was all the sales ere in cash because he couldn't bank his money in federal banking institutions because the feds didn't recognize it as legaly acquired money. Imagine having $50-100k in cash sitting around, and everyone knows it? One

    if you dont have clean money you cant use it for more than a few things.
    the irs will end up getting your ass, too.

    you cant have the nice things in life unless you clean that money somehow.
    ---
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  • From MRO@VERT/BBSESINF to Ogg on Friday, July 17, 2020 17:37:44
    Re: Re: Cannibis
    By: Ogg to All on Wed Jul 15 2020 10:17 pm

    Hello Moondog!

    ** On Wednesday 15.07.20 - 14:36, moondog wrote to MRO:

    ... Another issue was all the sales w ere in cash because he couldn't bank his money in federal banking institutions because the feds didn't recognize it as legaly acquired money. Imagine having $50-100k in cash sitting around, and everyone knows it?

    The feds were not interested to collect the taxes on it? Interesting.


    I have no idea how the the dispensary rules are, or whether they can store money in a federally insured bank.

    In Canada, the feds are very much in control of the "approved" dispensaries. Every purchase is tracked and must be accounted for.


    i guess they are required to pay federal tax, but many banks wont take them.

    i know a guy with a vape shop that got some cbd stuff. his bank dropped him and he had to fight to get his money from them. they dropped him with notice or warning. just one day no workie.

    https://qz.com/1461947/the-irs-cant-handle-cannabis-companies-all-cash-tax-paym ents/
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  • From MRO@VERT/BBSESINF to Moondog on Friday, July 17, 2020 17:38:58
    Re: Re: Cannibis
    By: Moondog to Ogg on Thu Jul 16 2020 08:43 pm

    I'm sure the Feds would like to collect money from it, but it is considered at the federal level an illegal controleed substance. It's legal at the sat level because individual states reserve certain rights


    dude, the govt always gets paid.

    they got almost 5 billion in taxes in 2018
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  • From Ogg@VERT/EOTLBBS to MRO on Friday, July 17, 2020 20:41:00
    Hello MRO!

    ** On Friday 17.07.20 - 18:37, mro wrote to Ogg:

    i guess they are required to pay federal tax, but many banks wont take
    them.

    i know a guy with a vape shop that got some cbd stuff. his bank dropped
    him and he had to fight to get his money from them. they dropped him
    with notice or warning. just one day no workie.

    Seems illogical to allow the vape or cbd biz, but not facilitate payments
    to irs, banks, etc. with cash. Is it the smell?


    https://qz.com/1461947/the-irs-cant-handle-cannabis-companies-all-cash- tax-payments/

    Ah... this is probably the crux of the matter: "the IRS would still prefer
    to be paid by check, credit card, or electronic deposit, "rather than with bags of cash smelling of weed.""
    ^^^^^^^^^^^^^^^^^^^^^

    Maybe the IRS should simply launder the money to clean it up, literally! LOL.

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  • From paulie420@VERT/BEERS20 to MRO on Friday, July 17, 2020 18:47:00
    if you dont have clean money you cant use it for more than a few things. the irs will end up getting your ass, too.

    you cant have the nice things in life unless you clean that money
    somehow. ---

    Some people go a lifetime without playing by the rules...



    |07p|15AULIE|1142|07o
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  • From paulie420@VERT/BEERS20 to MRO on Friday, July 17, 2020 18:47:00
    dude, the govt always gets paid.

    lol



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  • From MRO@VERT/BBSESINF to Ogg on Friday, July 17, 2020 23:42:36
    Re: Re: Cannibis
    By: Ogg to MRO on Fri Jul 17 2020 08:41 pm


    Ah... this is probably the crux of the matter: "the IRS would still prefer to be paid by check, credit card, or electronic deposit, "rather than with bags of cash smelling of weed.""
    ^^^^^^^^^^^^^^^^^^^^^

    Maybe the IRS should simply launder the money to clean it up, literally!

    i think that was the owner of the weed dispensary talking.
    it costs a lot of money to process cash. the irs spent tons. the company they used to handle it got paid a lot.

    banks are selective and they dont want to deal with the bullshit because they dont have to. what if the guy starts off with weed and then starts making deals and selling other shit and putting the money from THAT stuff into the bank. and then the feds seize it.
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  • From Arelor@VERT/PALANT to MRO on Saturday, July 18, 2020 06:00:32
    Re: Re: Cannibis
    By: MRO to Ogg on Fri Jul 17 2020 11:42 pm

    Re: Re: Cannibis
    By: Ogg to MRO on Fri Jul 17 2020 08:41 pm


    Ah... this is probably the crux of the matter: "the IRS would still prefer to be paid by check, credit card, or electro
    deposit, "rather than with bags of cash smelling of weed."" ^^^^^^^^^^^^^^^^^^^^^

    Maybe the IRS should simply launder the money to clean it up, literally!

    i think that was the owner of the weed dispensary talking.
    it costs a lot of money to process cash. the irs spent tons. the company they used to handle it got paid a lot.

    banks are selective and they dont want to deal with the bullshit because they dont have to. what if the guy starts off with
    weed and then starts making deals and selling other shit and putting the money from THAT stuff into the bank. and then the
    feds seize it.

    I think that is a bit of a slippery slope.

    Just because you are dealing beer does not mean you are going to start dealing illegal whiskey you distilled in your cellar.

    But yeah I can see bankings trying to stay clear from controversial money sources.

    --
    gopher://gopher.operationalsecurity.es

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  • From MRO@VERT/BBSESINF to Arelor on Saturday, July 18, 2020 20:03:43
    Re: Re: Cannibis
    By: Arelor to MRO on Sat Jul 18 2020 06:00 am


    banks are selective and they dont want to deal with the bullshit
    because they dont have to. what if the guy starts off with weed and
    then starts making deals and selling other shit and putting the money
    from THAT stuff into the bank. and then the feds seize it.

    I think that is a bit of a slippery slope.

    Just because you are dealing beer does not mean you are going to start dealing illegal whiskey you distilled in your cellar.

    But yeah I can see bankings trying to stay clear from controversial money sources.



    well marijuana is illegal on the federal level. so the banks dont want to
    take the risk, which i understand.
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