Your Weed Money is No Good in Florida
Nikki Fried is a Democratic Candidate running for Agriculture Commissioner. A month or so ago, Wells Fargo closed her campaign bank account because Fried supports medical marijuana and she is a lobbyist in the marijuana industry. Now, BB&T is doing the same to Fried’s campaign bank account.
Because of the confusion of state law and banking which is federal law, the contradiction is that banks cannot accept monies from the sale of marijuana since it is illegal under federal law. At the same time, the IRS provides an informational pamphlet for filing taxes if you are in the marijuana industry. Only in government can these two contradictions co-exist.
The banks are claiming they can’t do business with companies in the marijuana industry because it violates federal law, but Candidate Fried’s campaign is not in the marijuana industry, it is only advocating for the marijuana industry. Big difference.
Personally, I think there is more to it than meets the eye here, and since Fried is a Democrat, you can take a wild guess.
Alexander Hernandez, Esq.