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Home / News / IRS collects billions in pot taxes, much of it in cash

IRS collects billions in pot taxes, much of it in cash

By Aaron Smith

The way Zach Lazarus pays his taxes is different than most people.

The COO of A Green Alternative dispensary in San Diego pays city, state and federal taxes in bags of cash that smell like marijuana. And he arrives flanked by armed guards.

“We have a security detail with weapons that help us to get to the right destination to pay our taxes,” said Lazarus. “Because everything’s in cash we have to drive to our local IRS offices and pay.”

The government does not require Lazarus to pay his pot taxes in cash. But because marijuana is prohibited by the feds, banks are not legally allowed to provide financial services to businesses that deal in state-legal pot. The lack of banking access forces them to use cash.

Read more at CNN Money

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