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Hokie CPA

Joined: 10/28/1999 Posts: 79477
Likes: 9047

What's this?

The repeatead question....


I know states like California, Colorado, Oregon, etc. like to pretend that they've passed a law that says pot is legal, but the fact of the matter is, as long as the feds haven't repealed the federal law banning marijuana, the answer is yes. Pot is still illegal.

All these dispensaries and pot shops are cash businesses and they can't have a bank account, so they're prime targets to get robbed constantly. They can't have a bank account because the FDIC insures deposits and the federal government has laws against banks laundering drug money.

And another thing? These dispensaries have to pay income tax on their gross receipts. The Internal Revenue Code bans ALL DEDUCTIONS related to the production of illegal income. So... until federal laws banning marijuana are repealed, being a “legal” marijuana dealer ain't all it's cracked up to be.

(In response to this post by AZHokie59)

Posted: 02/08/2018 at 10:39PM


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Current Thread:
 
  You know you're from Califorina if: -- AZHokie59 02/08/2018 4:28PM
  The repeatead question.... -- Hokie CPA 02/08/2018 10:39PM
  1. I LOVE CA. 2. We refer to it as 49 states & CA at work for a reason. -- HokieinTampa 02/08/2018 8:21PM
  I've owned 4 houses there. Wish I still had them, I'd be a zillionaire. -- AZHokie59 02/09/2018 10:48AM
  I've frequently described it as The United States of America... -- Tafkam Hokie 02/08/2018 9:37PM
  It's really only an easy livable state if you're making mid level 6 figures -- ElbertoHokie 02/08/2018 8:35PM
  Assuming by mid 6 figure you mean 500k right? That's what I've seen -- HokieinTampa 02/08/2018 8:46PM
  Yep,my daughter lives just to the west of UCLA-$2000/mo basic 1 bdrm apt... -- TD-Tech 02/09/2018 09:15AM
  I lived in a so-so part of northridge. A 1 bedroom condo a block away -- ElbertoHokie 02/08/2018 8:49PM
  Unless the bank owns it -- RTFC 02/08/2018 9:04PM
  Speed. ** -- ElbertoHokie 02/08/2018 9:08PM
  If pre approved, not much -- RTFC 02/08/2018 9:26PM
  ...California, a prophet on the burning shore ** -- chumley 02/08/2018 8:10PM
  I was just wondering..... -- Merlin Hokie 02/08/2018 7:11PM
  Well, when it does, I've already got my waterfront property. ** -- AZHokie59 02/09/2018 10:51AM
  Monday ** -- TexasGobbler 02/08/2018 7:29PM
  70 degrees here now. HA.... ** -- UTPr0sim 02/08/2018 6:54PM
  Hyperbole....it's the BEST THING EVAR!!!1!!!11!!one! ** -- Freddyburg Hokie 02/08/2018 4:45PM

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