Cash-Only Banking for Cannabis on W420

COMING UP – THIS SATURDAY MARCH 7TH
SEASON 2 EPISODE 10

The colossal problem of managing a business in a cash-only industry has been such a massive problem it brings unique challenges to the industry. Federal prohibition of cannabis prevents businesses from: having banking accounts. Sometimes companies are misled by financial intuitions about their ability to take deposits. The Cannabis company opens an account and then in a few months the banker calls and gives them 45 days or less to withdraw their deposits and tells the customer we can’t take your money. The rules are burdensome and strict, therefore, banks grapple with imposing disincentives. The ultimate result – this leaves businesses with cash on-hand; making paying bills and renting difficult and paying and providing employee benefit next to impossible. How do does a business manage all cash existence to keep it safe? As the business grows the amount of cash to deal with also grows, our national Cannabis Electronic Checking Account is a great solution for many working in the cannabis industry.

Now there is a solution for the cannabis industry – which is restricted from normal banking privileges due to federal prohibition. An electronic checking account for cannabis business owners provides legitimate financial transactions to make deposits and get cash on-hand out of their businesses, and into the bank; it permits these companies to pay taxes with wire transfers instead of appearing at an IRS office with large sums of cash; it allows for leasing heavy, expensive harvesting equipment from sellers who do not lease for cash.. For these, and many other reasons, a workable electronic checking account is THE solution for cannabis businesses that is so desperately needed!

Bruce Linton is the former CEO and Co-Founder of Canopy Growth Corporation (CGC), the world’s largest cannabis company, and currently is the Executive Chairman of Vireo Health, a physician-founded, patient-focused company that provides cannabis-based products and care. He joins the conversation to discuss CBD for pets. The pet industry is a multi-billion dollar business. Results show that that animals respond to CBD treatment to various illnesses. CBD for pets is likely to be a growth industry that benefits many types of animals. In this conversation we explore this potential for dogs, cats, farm animals and more. Pet lovers tune in!

Larry Mishkin is Counsel to the Hoban Law Group, and he also has a private practice. Traveling with cannabis is a legal matter. Crossing state lines is forbidden, regardless of patient status and authorization. Attorneys advise that one should not travel with marijuana, but as it is, some people do it anyway. How is this dilemma playing out in airports and other modes of travel?