High Taxes Send Marijuana Users Back To Black Market

In Colorado, high taxes on personal use marijuana sales are prompting some users to go back to their old dealers, who offer similar products at lower prices.

Brian Vicente, Rick Ridder, Dan Pabon, Jonathan Singer

Is Colorado’s 20-plus percent tax rate on the sales of marijuana for personal use prompting some users to return to the black market? It’s a question some have started to ask, since other heavily-taxed substances such as cigarettes have made their way onto the black market in recent years as smokers look to skirt high taxes on tobacco products in

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Banking Regulations For Marijuana Industry “Imminent”

“Without access to basic banking services, many legitimate cannabis businesses are forced to manage sales, payroll, and even tax bills entirely in cash.”

Drug dealers may only accept cash, but those in the legal marijuana industry throughout the U.S. say they want access to and the chance to be regulated by the banking industry so that like other legitimate businesses, business owners and their customers can use credit card services, deposit money in a bank, and more. The trouble right now is

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