Tag: cannabis businesses

Washington State Credit Union Agrees to do Business with Recreational Cannabis Outlets

Salal Credit Union has announced that they’ll do business with recreational cannabis outlets in Washington State, allowing them to bank, take out loans and take part in other financial services. Salal is the second credit union, following Numerica Credit Union, to announce that they’ll work with those intending to distribute, process or cultivate cannabis for recreational purposes. The …

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U.S. Attorney General: Legal Marijuana Businesses Should Have Access to Banks

By Jack Healy and Matt Apuzzo, The New York Times Attorney General Eric H. Holder Jr. said Thursday that lawful marijuana businesses should have access to the American banking system and that the government would soon offer rules to help them gain it. The rules are not expected to give banks a green light to accept deposits …

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Colorado Issues Recreational Cannabis Licenses to 348 Businesses

By John Ingold, The Denver Post Colorado on Monday became the first U.S. state to issue special licenses for recreational marijuana businesses. After weeks of scrutiny of applications, officials at the state’s Marijuana Enforcement Division slipped 348 approved licenses into the mail and sent them out to hundreds of stores, products-makers and cultivation facilities. Those …

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Feds to Soon Release Memo Giving OK to Cannabis Banking

Cannabis businesses wanting the ability to bank legitimately are likely to get at least a “yellow light” allowing them to do so as soon as the new year, says Jack Finlaw, Chief Legal Counsel for Colorado Governor John Hickenlooper. “What we’re being told,” says Finlaw, “is probably in the first quarter of 2014 there will be …

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Americans for Tax Reform Endorses Change in Federal Law to Allow Cannabis Businesses to Deduct Taxes

Next week Americans for Tax Reform – founded and headed by ultraconservative Grover Norquist – will hold a joint press conference with the National Cannabis Association to call for a change in federal tax laws to allow cannabis businesses to take standard tax reductions, in states where they’re legal. In speaking for the Obama Administration, …

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