![]() ![]() And these businesses would be handling too much cash to stash it under a mattress.Ĭalifornia Treasurer John Chiang in November announced a number of stopgap measures for cannabis businesses to manage large amounts of cash and pay taxes while the federal question remains unsettled. The federal government still considers cannabis an illegal substance without medicinal value, so most banks haven't been willing to take their money, even though 29 states have legalized the drug for medical use, and some for recreational use. When Florida's medical marijuana industry was starting a few years ago, business owners had a big problem: Where could they find a bank to take their millions?įor marijuana distributors, opening bank accounts isn't easy. ![]()
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