Welcome to Higher Law, our weekly briefing on all things cannabis. I’m Cheryl Miller, reporting for Law.com from Sacramento, where I am unindicted and only conspiring to bring you the best and latest in marijuana law news.
This week we look at two issues that continue to bedevil companies—and the vendors that serve those companies—trying to thrive in state-regulated marijuana markets: the Internal Revenue Service and pot-wary banks. Advocates like to say marijuana prohibition is in its final days, but tell that to the licensed dispensary that still can’t open a checking account or is considered a drug-trafficker by the federal Tax Man.
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