How the banking act will help US businessesIt will have a real impact for the US businesses in the legalized states. My money will be in US companies although the whole sector will be pushed. For the Canadian companies it will be play the news since they will be back to where they were after the dust settle. I might invest a bit in CGC for a while but I will choose some US companies that will financially benefit from the bill. The US companies are well integrated and the competition is also stiff in the US. Entering the US market for CGC will not be easy since it is already a very competitive market.
Customers will be able to use their credit or debit card, the banks will lend money to businesses, not fearing the federal. In the latter, I hope the banks wil be well protected or they could be shy to do business in the sector.
Wyden says he agrees with that sentiment and he also wants to focus on Section 280E of the Internal Revenue Code, which prohibits cannabis businesses from deducting many of the normal costs of operating, such as salaries, rent and utilities (they can deduct the acquisition cost of the product they sell). That’s different from other legal businesses, which deduct such costs from revenues before paying taxes.