Pot, Taxes & Those Pesky Banks: Oopsies! State Lawmakers Culpable?

[Silhouette]

Put your drivers license where your mouth is. Eat a pot brownie, drive & call 911 on yourself. Get back to us with what happens.

Cat got your tongue moonglow?

 

[Moonglow]

Put your drivers license where your mouth is. Eat a pot brownie, drive & call 911 on yourself. Get back to us with what happens.

Cat got your tongue moonglow?

No I answered you already..

 

[theDoctorisIn]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

He said he did battles with a demon army & rolled around on the floor puking too. Yep...not a narcotic. Umm hmmm

"Narcotic" is defined as a drug that induces sleep.

It is biologically impossible to "die" from eating a cannabis edible.

Vomiting is not a side effect of any sort of cannabis, either. Nor do the effects of edibles last for "3 days".

 

[Silhouette]

Gibberish isn't an answer. Unless you are stoned? Which come to think of it, makes my point about the dui experiment.

 

[theDoctorisIn]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

Because spiritualism can be fatal, right?

Sheesh.

No because toxicity can be fatal. Also if he was in the fifth story balcony while fighting the imaginary demon army the wrong sword swing might have been fatal.

Cannabis is not "toxic".

No one has ever died from consuming cannabis.

 

[Silhouette]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

He said he did battles with a demon army & rolled around on the floor puking too. Yep...not a narcotic. Umm hmmm

"Narcotic" is defined as a drug that induces sleep.

It is biologically impossible to "die" from eating a cannabis edible.

Vomiting is not a side effect of any sort of cannabis, either. Nor do the effects of edibles last for "3 days".

That's odd. Pets die from eating pot. But little kids & frail adults can't? Learn something new every day.

 

[theDoctorisIn]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

He said he did battles with a demon army & rolled around on the floor puking too. Yep...not a narcotic. Umm hmmm

"Narcotic" is defined as a drug that induces sleep.

It is biologically impossible to "die" from eating a cannabis edible.

Vomiting is not a side effect of any sort of cannabis, either. Nor do the effects of edibles last for "3 days".

That's odd. Pets die from eating pot. But little kids & frail adults can't? Learn something new every day.

I have not found any instances in which pets have died from eating cannabis, although it appears that the veterinary consensus is that a dose of 3-4 grams of THC per kg. of the dogs weight is toxic.

That is equivalent to approximately $250 of cannabis flowers per kilogram of dog.

Either way, the human body does not process these chemicals the same way as dogs do - even children and "frail adults". A few grams of chocolate will kill a 100lb dog - but won't have any negative effects for children or "frail adults"

People have been consuming cannabis in various forms for thousands of years. No one has ever died from doing so.

 

[Pogo]

Go ahead. Eat a couple of pot brownies & go for a drive. Tell it to the judge when the cop that pulls you over sees that you are obviously narcotically intoxicated.

It's already becoming a problem new dui in recreational states. Drinking & driving is banned already.

A poster claimed pot isn't a narcotic. That's just a flat out lie.

Whereas your story claiming a mythical "friend" ate some brownies and puked for three days was --- what?

Again, driving under influence of alcohol is banned, because it slows down reaction times. And that's measurable, scientifically. You can even measure it with complete strangers who don't puke for three days.

There's no such evidence with cannabis.

 

[Silhouette]

New details are emerging about the case of a 19-year-old who died in Colorado last year after eating six times the recommended dose of a marijuana cookie and then jumping off a fourth-story balcony....
The recommendation comes after several recent deaths related to marijuana overdoses...
In a separate case, a Denver man, Richard Kirk, 47, is accused of killing his wife, Kristine Kirk, 44, on Monday while she was on the phone with a 911 dispatcher. Police say he ate marijuana-infused candy and possibly took prescription pain medication before the attack, according to a search warrant affidavit released Thursday.

The affidavit states that Kristine Kirk told the dispatcher her husband had ingested marijuana candy and was hallucinating. Two Denver deaths tied to recreational marijuana use

My friend only fought a demon army. Luckily it was a one-story house and he wasn't thinking his wife was the demon army.

Go ahead Pogo. Get stoned or eat a pot brownie, drive and then call 911 on yourself. I'd like to see how your experiment goes. Should be fine, right?

 

[theDoctorisIn]

New details are emerging about the case of a 19-year-old who died in Colorado last year after eating six times the recommended dose of a marijuana cookie and then jumping off a fourth-story balcony....
The recommendation comes after several recent deaths related to marijuana overdoses...
In a separate case, a Denver man, Richard Kirk, 47, is accused of killing his wife, Kristine Kirk, 44, on Monday while she was on the phone with a 911 dispatcher. Police say he ate marijuana-infused candy and possibly took prescription pain medication before the attack, according to a search warrant affidavit released Thursday.

The affidavit states that Kristine Kirk told the dispatcher her husband had ingested marijuana candy and was hallucinating. Two Denver deaths tied to recreational marijuana use

My friend only fought a demon army. Luckily it was a one-story house and he wasn't thinking his wife was the demon army.

Go ahead Pogo. Get stoned or eat a pot brownie, drive and then call 911 on yourself. I'd like to see how your experiment goes. Should be fine, right?

Richard Kirk was, after his arrest, diagnosed with numerous psychiatric disorders - including bipolar disorder, and evidence came to light showing that he likely murdered his wife because of his upcoming bankruptcy and her spending habits. The amount of cannabis he consumed was miniscule.

 

[Silhouette]

Richard Kirk was, after his arrest, diagnosed with numerous psychiatric disorders - including bipolar disorder, and evidence came to light showing that he likely murdered his wife because of his upcoming bankruptcy and her spending habits. The amount of cannabis he consumed was miniscule.

Fine, but pot does create narcotic effects on the user. Let's not underestimate the intelligence of the readers here.

So how about that problem with the banks being FDIC? How do you think states are going to overcome a business that can't do banking or file for federal taxes without disclosing illegal profits?

 

[ScienceRocks]

The war on drugs is unconstitutional in many ways.


It is fascism

 

[Silhouette]

The war on drugs is unconstitutional in many ways.


It is fascism

So heroin should be legal according to you?

 

[theDoctorisIn]

Richard Kirk was, after his arrest, diagnosed with numerous psychiatric disorders - including bipolar disorder, and evidence came to light showing that he likely murdered his wife because of his upcoming bankruptcy and her spending habits. The amount of cannabis he consumed was miniscule.

Fine, but pot does create narcotic effects on the user. Let's not underestimate the intelligence of the readers here.

So how about that problem with the banks being FDIC? How do you think states are going to overcome a business that can't do banking or file for federal taxes without disclosing illegal profits?

The one significant advantage to conversing with you is that it makes it quite impossible to "underestimate" the intelligence of my readers.

As for the banking issue, for now companies are making do. There are banks that will allow cannabis companies to open accounts.

In terms of federal taxes, there is nothing preventing cannabis companies from filing federal taxes.

 

[Silhouette]

The one significant advantage to conversing with you is that it makes it quite impossible to "underestimate" the intelligence of my readers.

As for the banking issue, for now companies are making do. There are banks that will allow cannabis companies to open accounts.

In terms of federal taxes, there is nothing preventing cannabis companies from filing federal taxes.

Ad hominem from a moderator. Impressive example to set!

Which banks are doing business with pot traders? Links? Also, can other illegal activities file federal income tax forms? Maybe you have an irs link for those forms?

 

[theDoctorisIn]

The one significant advantage to conversing with you is that it makes it quite impossible to "underestimate" the intelligence of my readers.

As for the banking issue, for now companies are making do. There are banks that will allow cannabis companies to open accounts.

In terms of federal taxes, there is nothing preventing cannabis companies from filing federal taxes.

Ad hominem from a moderator. Impressive example to set!

Which banks are doing business with pot traders? Links? Also, can other illegal activities file federal income tax forms? Maybe you have an irs link for those forms?

You should read your own links, and go from there.

Banks:

Why some pot businesses hide their cash — and others truck it straight to a federal vault

Taxes:

Pot is illegal — but you still have to pay tax

 

[Silhouette]

I found this, which is interesting conflict of law with regard to the irs demanding illegal income be declared. I suspect this will snag up some and confabulate banks anxieties as well:

IRS Guidance for Thieves, Drug Dealers, and Corrupt Officials - Tax Foundation
Illegal activities. Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.
Stolen property. If you steal property, you must report its fair market value in your income in the year you steal it unless in the same year, you return it to its rightful owner......As you can see, Publication 17 is very helpful to a variety of villains and dishonest folk. There is some interesting case law on the subject; the Sixteenth Amendment, which allows Congress to levy an income tax, comes into conflict with the Fifth Amendment, which includes a right against self-incrimination.

 

[OKTexas]

Seems that states legalizing federally illegal substances are running into problems:

California treasurer wants the state to study a public bank option for pot businesses
along with looking into the creation of a public bank, another of the recommendations from Chiang’s group is to form a multistate group to lobby Congress to ease federal restrictions on cannabis.

“A definitive, bulletproof solution will remain elusive” without federal deregulation, Chiang said at a news conference Tuesday announcing the recommendations. “That is not an excuse for inaction.”

So CA's leadership is saying "look, we're going to break the law and the fed had better get it's act together and legalize what we've decided to illegally do" Technically, CA leaders should have never approved legalization for the ballot to even be voted on. Which was within their powers (and obligation) to deny given federal regulations. Now they're saying "we're doublin' down on being outlaws...bitches!"

In response to that hubris it seems the fed has these states by the short hairs inasmuch as their state tax forms must also match the federal ones... ...and the banks...oh yeah, the banks...

...it seems that the fed is telling banks that get FDIC coverage that doing business with federally-illegal drugs is a no-no.

Ooopsies! So now those states fallback is "let's convince the fed to pull pot off the controlled substance list"? What happens when a state wants to grow opium latex for sale? Petition the fed on that too?

This could get interesting. I mean, do you also file federal taxes for hits you did for the mob and the money they paid you? Where does the fed draw the line at revenue from what it considers crime? And if the fed takes crime money, is that legal for the fed to do?

Discuss.

These State drug cartels can be prosecuted under RICO and all taxes collected, profits from the growers and sellers and all property involved, purchased with or used in the growing, packaging or the flow of the profits could be seized. And all involved could be jailed. I'm just wondering why Sessions hasn't done it yet.


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[Silhouette]

These State drug cartels can be prosecuted under RICO and all taxes collected, profits from the growers and sellers and all property involved, purchased with or used in the growing, packaging or the flow of the profits could be seized. And all involved could be jailed. I'm just wondering why Sessions hasn't done it yet.


.

I can see the fed staying out of it as long as the trade is contained within the state that "legalized" it. But when as in recent weeks, California exports its excess to New York, where it is illegal still, then the fed should step in and start bitch-slapping the states responsible for exporting to other states.

This is where the problem is: The states that have "legalized" the still-illegal narcotic pot, are planning on letting BigTobacco come in and mass produce for exports. So unless these five or six states plan to export recreational weed to each other only, and can prove they'll limit it to that, we have on our hands about five or six Mexicos within US borders who intend to export illegally to other states where it's banned.

It's just like a rat's nest of legal and illegal regulations all colliding with each other. And we still fund eradication of pot in Mexico????? Why? Mexico's response to its old benign trade being mass produced in the US and driving the prices down was to up its exports of heroin. They're going to make their money one way or the other. By legalizing weed we essentially stimulated a boon in the heroin epidemic in the US.

We're kinda smart huh?

 

[OKTexas]

These State drug cartels can be prosecuted under RICO and all taxes collected, profits from the growers and sellers and all property involved, purchased with or used in the growing, packaging or the flow of the profits could be seized. And all involved could be jailed. I'm just wondering why Sessions hasn't done it yet.


.

I can see the fed staying out of it as long as the trade is contained within the state that "legalized" it. But when as in recent weeks, California exports its excess to New York, where it is illegal still, then the fed should step in and start bitch-slapping the states responsible for exporting to other states.

This is where the problem is: The states that have "legalized" the still-illegal narcotic pot, are planning on letting BigTobacco come in and mass produce for exports. So unless these five or six states plan to export recreational weed to each other only, and can prove they'll limit it to that, we have on our hands about five or six Mexicos within US borders who intend to export illegally to other states where it's banned.

It's just like a rat's nest of legal and illegal regulations all colliding with each other. And we still fund eradication of pot in Mexico????? Why? Mexico's response to its old benign trade being mass produced in the US and driving the prices down was to up its exports of heroin. They're going to make their money one way or the other. By legalizing weed we essentially stimulated a boon in the heroin epidemic in the US.

We're kinda smart huh?

Some States around CO have sued them for their product crossing State lines. That's the neat little thing about putting markers in the pot so it can be proven that it was taxed, it can also be tracked.


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