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Topic: WTF
Submitted By: 1boss
Date Submitted: 05-14-13

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Legal Marijuana Shops Forced To Do Cash Only
Marijuana may be legal and taxed in Colorado, but the federal government still considers anyone who sells it to be a drug dealer and won’t allow banks to offer accounts to these businesses. So how is a legal businessman supposed to pay those sales tax to the state? One shop owner tells Bloomberg he’s got to carry a bag holding thousands of dollars in cash to the state’s revenue department in order to remit sales tax payments. “It highlights the awkward situation we’ve been placed in,” he explains. “We are paying taxes, but despite our best efforts to be good citizens, we’re still paying in cash.” Since the business can’t open a bank account, it has to operate on a purely cash basis, making it a target for robbery — and just a huge pain in the butt for people keeping the books.

See Full Story @ ...Legal Marijuana Shops Forced To Do Cash Only

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