What do marijuana businesses do with all their cash? – GFarma.news

DENVER – Our Next Question comes from a viewer named Pam, who thinks it’s high time we find out “What’s happening to all the cash collected by Colorado’s cannabis businesses?”

You hear that cannabis cash is being rolled into real estate, or stockpiled in back rooms and warehouses because banks won’t take it for fear of the federal government, which doesn’t recognize legal marijuana.

For some answers, we checked in with the head of the Marijuana Industry Group, Kristi Kelley.

She says a large portion of cash goes back into the operations of the business.

While the numbers in terms of revenue are very large, the money that people are able to take home at the end of the day, in terms of pure revenue, is much smaller,” she says. “I would say that 100 percent of ever owner that I’ve talked to would like to make more than what they make.”

Kelley added that banks are tentatively increasing their acceptance of cannabis businesses. Most banking relationships are endorsement or referral based, though, so only a few businesses have that connection.

State marijuana regulators tell Next that they examine marijuana license holders to make sure their cash isn’t being funneled into anything illegal, and that while some marijuana businesses have found banking services, some continue to pay their state taxes in cash.

Have a question you’d like us to look into? Email next@9news.com or use #HeyNext.

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