AI
Saturday, May 03, 2014 9:56:45 AM
A Growing Problem, that HRDN will Solve...
Marijuana money a growing problem in Colorado
http://www.mccookgazette.com/story/2077031.html
Friday, May 2, 2014
McCook Daily Gazette
Follow the money.
Deep throat's advice from "All The President's Men" holds true today, even if the money involved is from a quasi-legal source.
The recreational marijuana business is booming in Colorado -- just ask the state revenue department, which is expected to bring in an extra $40 million this year if trends continue. That comes from the regular 2.9 percent sales tax, a retail marijuana excise tax and local taxes that can total more than 20 percent.
Colorado marijuana retailers sold $14 million in weed the first month it was legal.
Great business, right?
From the fictional Walter White in "Breaking Bad," who wound up burying barrels of the stuff in the desert only to have most of it stolen, to the true-life Al Capone who went to prison not because of bootlegging and other criminal activities, but because of tax evasion, marijuana entrepreneurs are finding it difficult to dispose of their profits.
In this case, while Colorado looks at the marijuana business as legal, the federal government, which controls the financial system, does not.
Despite guidance from the federal departments of justice and treasury, financial institutions are wary about accepting money derived from an activity that is illegal in 48 states.
A banking committee in the Colorado legislature advanced a plan to create a banking system for the marijuana business, but another committee killed the plan by amending it to require the state to continue seeking ways to mainstream the dope cash.
Bitcoin, a nonregulated online-only currency, offers a possible alternative, but the IRS has made it clear that bitcoin is, indeed, taxable, and authorities shut down at least one marketplace used for illegal drugs, pornography and other nefarious activities. Another bitcoin exchange went bankrupt and lost or had stolen many of its customer's electronically-stored bitcoins, although some were recovered on old servers.
Proponents of channeling the Colorado marijuana money into the mainstream banking system vow to pass their bill, if only to force the federal government to deal with the issue -- which will likely favor the expansion of legalized marijuana.
That's an issue that can't help but spill over into neighboring Nebraska, forcing us to deal more directly with the issue as well.
HRDN and it's Shareholders will Capitalize on this... HRDN .01+ Coming!!!
_________________________________________
Keep in Mind this is only one of the ways DC will make Revenues...
Here's Another... http://www.denverpost.com/news/ci_25680313/colorado-begins-mandatory-testing-edible-marijuana-potency
HRDN, Chemistry at it's finest!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101366674
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101430123
___________________________________________________
HRDN PennyBound!!!
GLTA
IMO
Marijuana money a growing problem in Colorado
http://www.mccookgazette.com/story/2077031.html
Friday, May 2, 2014
McCook Daily Gazette
Follow the money.
Deep throat's advice from "All The President's Men" holds true today, even if the money involved is from a quasi-legal source.
The recreational marijuana business is booming in Colorado -- just ask the state revenue department, which is expected to bring in an extra $40 million this year if trends continue. That comes from the regular 2.9 percent sales tax, a retail marijuana excise tax and local taxes that can total more than 20 percent.
Colorado marijuana retailers sold $14 million in weed the first month it was legal.
Great business, right?
From the fictional Walter White in "Breaking Bad," who wound up burying barrels of the stuff in the desert only to have most of it stolen, to the true-life Al Capone who went to prison not because of bootlegging and other criminal activities, but because of tax evasion, marijuana entrepreneurs are finding it difficult to dispose of their profits.
In this case, while Colorado looks at the marijuana business as legal, the federal government, which controls the financial system, does not.
Despite guidance from the federal departments of justice and treasury, financial institutions are wary about accepting money derived from an activity that is illegal in 48 states.
A banking committee in the Colorado legislature advanced a plan to create a banking system for the marijuana business, but another committee killed the plan by amending it to require the state to continue seeking ways to mainstream the dope cash.
Bitcoin, a nonregulated online-only currency, offers a possible alternative, but the IRS has made it clear that bitcoin is, indeed, taxable, and authorities shut down at least one marketplace used for illegal drugs, pornography and other nefarious activities. Another bitcoin exchange went bankrupt and lost or had stolen many of its customer's electronically-stored bitcoins, although some were recovered on old servers.
Proponents of channeling the Colorado marijuana money into the mainstream banking system vow to pass their bill, if only to force the federal government to deal with the issue -- which will likely favor the expansion of legalized marijuana.
That's an issue that can't help but spill over into neighboring Nebraska, forcing us to deal more directly with the issue as well.
HRDN and it's Shareholders will Capitalize on this... HRDN .01+ Coming!!!
_________________________________________
Keep in Mind this is only one of the ways DC will make Revenues...
Here's Another... http://www.denverpost.com/news/ci_25680313/colorado-begins-mandatory-testing-edible-marijuana-potency
HRDN, Chemistry at it's finest!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101366674
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101430123
___________________________________________________
HRDN PennyBound!!!
GLTA
IMO
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