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What Are The Reasons For Not Getting A Marijuana Business Linked To The Banks?

What Are The Reasons For Not Getting A Marijuana Business Linked To The Banks?

A marijuana business is one of the best in terms of revenues and profits, but you cannot transfer those profits in the bank, which is the major issue. There are various marijuana dispensaries has taken place in the market from where you can buy any of your favorite product at ease. The Des Monies dispensary with top-shelf cannabis is the one which is earning the highest revenue in today’s time and still cannot get to transfer their profits in the bank. There are reasons behind this which you will get to know further in the article. Before all this, you should need to know about the basic things about marijuana. It is a plant that is obviously natural, which is used for the extraction.

Why can you not link marijuana business to the bank?

There are several reasons behind this, but we are going to be discussed the essential one so that you can get to understand it well. Here are few for you-

  •    Plant selling- According to the government, you are selling the plant to the people and making a huge profit, which is not legal in the eyes of the law. This is the first reason you should know about it.
  • No taxes- In the business of marijuana, there is no tax system because of which bank would not be going to accept your money as there is no proof. You need to prove that your money is white in form.
  • Conversion of money- It is considered as converting of black money into white, which is literally unacceptable by the government.
  • No accountability- There is nothing to show as accountability because, in this, you just had grown a plant and sold it.

These are some of the reasons because of which profit cannot be transferred to bank accounts.

Mark Campus

Mark Campus

Mark Campus is a content marketer who owns Keenan’s room. A writer by day and a reader by night, he is loath to discuss himself in third person.