Colorado Expects to Reap Tax Bonanza on Legal Marijuana Sales

The state predicts $100 million a year in revenues, and a budget proposal from Gov. John W. Hickenlooper estimates that the industry could reach $1 billion in sales in the next fiscal year. Continue to full story....
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Major Banks See Justice Department Memo on Cannabis as a Red Light

After Justice Department Banking memo on marijuana, there are more questions than answers. “In the days following the joint memos, major U.S. banks and banking institutions have upheld their refusal to work with the industry. A spokeswoman from Wells Fargo said the bank is reviewing the government’s new guidelines but would continue to ban cannabis …
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The New Frontier: Are Marijuana Stocks Worth The Hype?

Publicly traded companies that claim to do business in the cannabis industry are on the rise as prohibition on a national level seems to be losing it’s teeth,  MarketWatch blogger Cody Willard offers some helpful insights on where the market is going and how fast in his Thursday post noting: I think that most of …
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Justice Department and Treasury Department Announce New Guidelines Allowing Banks to Work With Marijuana Businesses

This afternoon, the Obama Administration announced new guidelines that will allow banks to legally provide financial services to state-licensed marijuana businesses. Twenty states and Washington D.C. have legalized marijuana for medical use; two of those states (Colorado and Washington) recently legalized marijuana like alcohol. Many banks have been afraid to open checking or savings accounts …
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U.S. Issues Marijuana Guidelines for Banks

The Obama administration policy is meant to give banks confidence that they will not be punished if they work with legitimate businesses in states that have legalized the use of Continue to full story....
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