Marijuana Businesses Are Raking In Money—And The IRS Will Take Most Of It

“States will do what they want, and the federal government will get out of the way.”

OREGON: The line along Southeast Hawthorne Boulevard looked like a windfall for Farma. A crowd started gathering outside the Portland medical-marijuana dispensary shortly before 10 am on Oct. 1, the first day of legal recreational pot sales in Oregon. By the end of the day, more than 250 customers at Farma bought weed at $70 a quarter-ounce. But Read the full article…

Congress Yawns At Colorado Delegation’s Marijuana Banking Bill

Most Colorado members are in favor of the bill, but the delegation is mixed.

DISTRICT OF COLUMBIA: As cannabis workers carry cash by the briefcase throughout Colorado, the lack of interest in Washington suggests that a bill to green-light banking practices for the marijuana industry is headed nowhere fast. Federal legislation that could end cash-only practices in the marijuana industry will likely remain stuck in committee this year, with near Read the full article…