How Can I Sign Nevada Banking Word

Industry sign banking nevada word later

news 3 starts right now [Music] and they still can't open a checking account good evening i'm latoya Silman in for Reid and I'm Jim Snyder talking about Nevada's marijuana dispensaries still cash-and-carry yesterday marked the one-year anniversary of recreational sales and now the industry hopes that can turn a corner it's our top story tonight at six Jeff Gillen is here to tell us what turning a corner might look like that's right good evening everybody for Nevada's pot industry what turning a corner means is full access to the banking system day morning steady traffic at Las Vegas relief dispensary lead Brannon a couple of eight cartridges in the pre world giant I spent about 140 bucks take Brannon and multiply in the ten months of this fiscal year which started last July the state says people like him have bought 434 million dollars of medical and recreational pot if you're a dispensary none of that money goes to a bank because marijuana is still illegal under federal law I would say that not being able to do banking is probably the one biggest inefficiency in the way that we run our business lease Allah watches reliefs general manager she says the banking barrier means all their sales are in cash and all their payments are in cash to workers to landlords to vendors much of their marijuana money gets paid out what's left over they have to figure out ways to store it and think about that your average dispensary takes in between 10 and 50 grand a day that's a lot of cash which is potentially a target on Capitol Hill there are efforts stalled for now that would let dispensaries use banks this brings safety and security to these businesses and people who are vendors or contractors who work with them Nevada legalized pot because of the tax money it would bring in fifty six million has come to the state since last July and the tax take is actually bigger so state senator dick Sager blue yeah you later we've raised a hundred and twenty million dollars in total taxes when you conclude state and local governments Nevada legalized pot because much of the tax money is supposed to go to schools last session lawmakers tweaked that sending some to the state's rainy day fund Sager Blum hopes next session more pot money stays for schools here I think that should go to the county of origin a lot of counties don't even allow marijuana so why should they get our marijuana that's a debate for next year over an industry a wash in cash and on that note at the State Department of Taxation dispensaries are bringing in so much cash they've had to hire extra security jeff Gillen news 3 yeah certainly a lot of money thank you so much