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Topic - Ed Perlmutter
As Washington and other jurisdictions race with dollar signs in their eyes to see who can legalize marijuana first, it seems these political twits forgot one thing: There are still federal laws that govern the use and distribution of "illegal" drugs.
A Democratic lawmaker in Colorado has introduced a bill that would shield banks from federal prosecution for conducting business with recently legalized marijuana retailers.
Case in point: Two Colorado Democrats, Sen. Michael Bennet and Rep. Ed Perlmutter have written to IRS Commissioner John Koskinen asking him to "waive" the 10-percent penalty for taxpayers — including those with "legal" marijuana businesses — who pay withholding taxes in cash because they often have trouble getting bank accounts.
He argued, however, that the banking guidance is an important development for federal authorities who see the problems of a cash-only business but still consider the business itself illegal.