Pitching Marijuana Startups Brings New Meaning To High Tech

Since Colorado and Washington first voted to legalize recreational marijuana use in late 2012, the legal cannabis market has grown from $1.5 billion in 2013 to $2.7 billion last year, according to industry estimates. That kind of velocity gets the attention of investors, many of whom focus on tech.

CALIFORNIA: Investing in a social network closely tied to a booming industry sounds great, until Apple kicks the thing you invested in out of the App Store because the platform is all about marijuana. It’s one of the many things that can happen when two of the fastest growing industries in America come together, as is Read the full article…

IRS Advice On Marijuana: Deduct It…But Prepare For 50% Tax

even legal medical marijuana businesses have big federal income tax problems: tax evasion if they don’t report, and a considerably smaller risk of criminal prosecution if they do.

DISTRICT OF COLUMBIA: Four states have legalized recreational marijuana, and 23 states plus the District of Columbia have legalized medical use. But federal law still classifies it as a controlled substance, regardless of how legal it is in the states. There’s a lot more than taxes at stake, since federal drug crimes and seizures are nothing Read the full article…

Pot Finance Co-Ops Likely To Fail, But They’re Better Than Nothing

Chris Myklebust, commissioner of the Division of Financial Services for the Colorado Department of Regulatory Services, says there are hurdles to overcome yet.

COLORADO:  A hurry-up bill that whizzed through the final days of the Colorado legislature to create the world’s first financial cooperatives for the marijuana industry still faces about two years of added preparation, backers now say. But despite the initial optimism surrounding House Bill 1398, those familiar with the Federal Reserve System — the agency Read the full article…