Legal medical marijuana

Denver Business Journal

The Internal Revenue Service isn’t going to give a break to a Denver medical marijuana dispensary that can’t pay its withholding taxes electronically.The Denver Post reports the dispensary, Allgreens LLC, is facing a 10 percent penalty because it didn’t comply with federal tax law. Although medical marijuana has been legalized in Colorado, the sale of the drug remains a federal crime and banks aren’t willing to give pot businesses an account. Allgreens has tried for two years to get a bank account, according to the newspaper.But an IRS hearing officer ruled that just because Allgreens can’t get a bank account “is not considered reasonable cause to abate the penalty.”

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