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ambient_whooshing t1_iwepg6i wrote

Why is he laundering legal money?

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waveball03 t1_iwjbno4 wrote

I think the point he was trying to make to the dispensary owner was that this might be “legal” on a state level, but on the federal level technically they could come in and shut you down at any moment. Like even if not officially, you could get some crooked federal officers coming after you half a million in the safe or something like that.

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ambient_whooshing t1_iwjdyfk wrote

Ahhh, so it's more "the feds can overturn this shit any moment so while you think you're cool you might as well be fucked tomorrow." Then spreading cash through legal investments and insurance covers it. Got it. Thanks so much for the clarification.

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waveball03 t1_iwjea93 wrote

Yea I’m pretty sure that’s what’s going on. And that’s why the guy really didn’t have the money in the bank, because maybe the feds could seize it easier that way. But Stallone’s point was that just keeping it in the safe really isn’t a solution either.

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esk_209 t1_ixonrcz wrote

They don’t have their money in banks because they can’t. Since marijuana is still illegal at the federal level, most federally insured banks can’t/won’t accept them as customers, and they can’t allow any marijuana-related transactions over their networks. That’s also why they’re cash-only.

However, they still have to pay federal taxes on the income.

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