Colorado Compliance Regulation Taxes 
PYMNTS
NOVEMBER 15, 2018
million to a Virginia company to handle “large cash payments for processing cannabis federal taxes.”. billion in taxes last year on nearly $13 billion in revenue from legal cannabis companies. Most of these companies were forced to pay their federal taxes in cash because about 70 percent of all legal cannabis businesses are unbanked.
Abrigo
JUNE 27, 2023
Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. The limited regulation around the real estate industry has made it especially easy for these bad actors to cycle their dirty money into the financial system using this avenue.
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PYMNTS
OCTOBER 17, 2018
Massachusetts joins a handful of states, including Colorado, Washington and Maine, that have taken steps to legalize recreational marijuana. GFA spent time researching how Colorado was affected after it legalized recreational marijuana in 2012: The state’s marijuana businesses were often beset by break-ins, robberies and even murders.
PYMNTS
NOVEMBER 16, 2018
states (and the District of Columbia) where marijuana has been legalized for sale in some capacity, it has thrown off a fairly large chunk of tax revenue in the last year. billion in taxes from legal cannabis companies last year, an amount of money that is undoubtedly a sizzle for the federal coffers.
Gonzobanker
DECEMBER 19, 2017
Heavy-handed regulators. Seriously, sit back with a pocket flask of Pappy Van Winkle, smoke a cigar (or your combustible of choice if you live in Colorado, California, Washington, Oregon, Nevada, Main or Massachusetts) and enjoy the 2017 GonzoBanker Awards. Executioner’s Tax (Swing of the Ax) – Power Trip. Payments chaos.
PYMNTS
OCTOBER 7, 2019
The bill was sponsored by Congressmen Ed Perlmutter of Colorado, Denny Heck of Washington, Steve Stivers of Ohio and Warren Davidson of Ohio — all members of the House Committee on Financial Services. The legislation aims to ensure that state-authorized and regulated cannabis businesses are not forced to operate with cash only.
PYMNTS
FEBRUARY 14, 2019
That’s because it marked the first hearing dedicated to a proposed bill in Congress that would offer financial institutions protections against federal regulators when dealing with legal cannabis operations. In 2018, consumers in Colorado bought some $1.55 Two of the speakers at the hearing — Colorado Rep. Cash Dangers.
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