About Brian Ellis

With 6 years' experience in business journalism, Brian is the person we turn to for anything related to the business of cannabis. His news coverage spans topics including marijuana business and finance. Brian's work features on themarijuanapages.com, marijuanareferral.com, , marijuanamerchantaccount.com and marijuanainsuranceagent.com.
  • marijuana banking bill in motion

A 2019 Marijuana Banking Bill Is In The Works: Draft Text Released

In the U.S., cannabis businesses have had very limited access to banking and financial services due to federal prohibition, but that may soon change as a draft bipartisan bill makes its way through the process. There have been such bills put forth that failed, as recently as last year, including an attempt to tie the

By |March 9th, 2019|
  • cannabis business lobby states act

Cannabis Businesses Sending Lobbyists To Capitol Hill In Support Of STATES Act

Humans have a difficult time imagining large numbers, which is why it’s sometimes overwhelming for some to think about the cannabis industry. Without access to financial services in the U.S., legal cannabis brings in $10 billion and 99.9% of those transactions are in cash. Literally, billions of dollars trade hands every year, and there’s no

By |February 24th, 2019|
  • michigan banks quietly banking cannabis

Michigan Banks Are Quietly Banking Money For Marijuana Businesses

Michigan’s cannabis industry is blooming, and local banks are beginning to bank cannabis funds to help the industry reach new heights. The State of Michigan has been developing its cannabis regulations for over a decade, starting with legalizing medical cannabis in 2008 and continuing in 2018 by legalizing adult-use cannabis and at-home cultivation. Though acceptance

By |February 9th, 2019|
  • banks working hemp companies

Banks Given Green Light To Work With Hemp Producers By Farm Bill

Banks and investment capital finally have an avenue into the hemp industry with a recent change to federal regulation. Shortly before Christmas, the 2018 Congressional Farm Bill was signed into law and has now already taken effect. That bill included provisions that effectively legalize the production of hemp in the U.S. by distinguishing it from

By |January 24th, 2019|
  • Cory Gardner States Act

Sen. Cory Gardner Fails To Bring Banking To State-Legal Marijuana Businesses

The latest push for lifting the federal prohibition of cannabis and paving the way for cannabis business banking services has failed, but the senator behind the measure isn’t backing down. U.S. Sen. Cory Gardner, R-Colorado, has spent nearly a year pushing for the passage of the STATES Act that would give federal permission to the

By |January 9th, 2019|
  • IRS help marijuana money

IRS Is Struggling With Cannabis Companies’ Cash Tax Payments

Who knew cash could be so expensive? The IRS recently paid a consulting company $1.7 million to help process the billions of dollars in taxes that cannabis businesses were paying … in cash. Most businesses write a check when they pay taxes, but federal prohibition continues to prevent many cannabis businesses from getting back accounts.

By |December 24th, 2018|
  • Banks Ware Financing Marijuana Companies

Banks Wary Of Financing Marijuana Companies

Billions of dollars flow through the legal cannabis industry every year, much of it cash by necessity, and financial institutions and Wall Street want in. In the U.S., the fear of regulations and reputational damage is continuing to keep many investors out of this market. But that isn’t the case everywhere. Over 30 states have

By |December 9th, 2018|
  • Ama surveys banks cannabis

Banking Group Surveys Members To Highlight Need For Legal Clarity On Marijuana Banking

The American Bankers Association (ABA) is reaching out to its members to learn more about their operational struggles working with the cannabis-related industries across the U.S. Over 30 states in the U.S. have legalized medical or adult-use cannabis in their borders, and the last several election cycles have seen a few more make that decision

By |November 24th, 2018|
  • how to get a cannabis bank account

Cannabis Banking: The Best Way To Get A Bank Account

Getting a bank account as a cannabis company has remained difficult with federal prohibition still in place, even as more states open the doors for medical and adult-use cannabis. But if you’re in the right state (and willing to go through the paperwork), opening an account is absolutely possible. The key is complete transparency, which

By |November 9th, 2018|