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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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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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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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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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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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
|08.........

dude, the govt always gets paid.

lol



|07p|15AULIE|1142|07o
|08.........

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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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.

--
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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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