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Springfield News Leader: Banking for marijuana businesses is accessible but remains tricky

…Since the sale of medical marijuana began in Missouri, the industry has boomed. Sales, which began in October 2020, recently surpassed $600 million, according to Lyndall Fraker, director of public outreach for the Missouri Division of Cannabis Regulation.

Tax rates over 70%

The 280E tax code is one of the biggest challenges the marijuana industry faces nationwide, said David Brodsky, director of retail at The Farmer’s Wife, which operates three dispensaries in southern Missourn.

READ MORE: https://www.news-leader.com/story/news/local/2023/01/07/banking-for-marijuana-businesses-is-accessible-but-challenging/69777377007/

9 Jan, 2023
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