Banking http://www.kunc.org en Colorado Approves Financial System For Marijuana Industry http://www.kunc.org/post/colorado-approves-financial-system-marijuana-industry Colorado lawmakers have voted to create the a financial system for the state's burgeoning legal marijuana industry.<p>After <a href="http://www.npr.org/2013/01/28/170300215/hemp-gets-the-green-light-in-new-colorado-pot-measure">Colorado legalized pot in 2013</a>, it still had no financial mechanism for legal marijuana businesses. Thu, 08 May 2014 00:27:00 +0000 Scott Neuman 56276 at http://www.kunc.org Marijuana Banking Bill Is Snuffed Out In Colorado http://www.kunc.org/post/marijuana-banking-bill-shelved-colorado It's OK to sell pot in Colorado, but there's still nowhere but the mattress to legally stash the proceeds.<p>That's the continuing problem for legal marijuana dealers in the state, who are caught between the state's legalization of cannabis and federal laws that still classify it as a controlled substance.<p>Colorado had been <a href="http://www.leg.state.co.us/Clics/CLICS2014A/csl.nsf/fsbillcont3/06F7F4159729909387257CCA0082B929?Open&file=1398_01.pdf">crafting a plan</a> to address the issue, but <a href="http://hosted.ap.org/dynamic/stories/U/US_MARIJUANA_BANKING?SITE=AP&SECTION=HOME&TEMPLAT Fri, 02 May 2014 14:06:00 +0000 Scott Neuman 56072 at http://www.kunc.org Marijuana Banking Bill Is Snuffed Out In Colorado IRS Says It Will Treat Bitcoins As Property, Not Currency http://www.kunc.org/post/irs-says-it-will-treat-bitcoins-property-not-currency <a href="http://www.irs.gov/pub/irs-drop/n-14-21.pdf">In a new rule released on Tuesday</a>, the Internal Revenue Service says it will treat bitcoin and other virtual currencies as property.<p><a href="http://online.wsj.com/news/articles/SB10001424052702303949704579461502538024502?mod=WSJ_hp_LEFTWhatsNewsCollection&mg=reno64-wsj">The Wall Street Journal reports</a> this means any profits made on the currency will be taxed at the capital-gains rate and that investors will have to keep extensive records.<p>The <em>Journal</em> adds:<p><blockquote><p>"The announcement in general was expected to b Tue, 25 Mar 2014 19:29:00 +0000 Eyder Peralta 54921 at http://www.kunc.org IRS Says It Will Treat Bitcoins As Property, Not Currency Why More Americans Are Renouncing U.S. Citizenship http://www.kunc.org/post/why-more-americans-are-renoucing-us-citizenship A few times a year, the Treasury Department publishes a long list of names announcing all of the Americans who have lately abandoned their U.S. citizenship.<p>According to the legal website <a href="http://intltax.typepad.com/intltax_blog/2014/02/2013-expatriations-increase-by-___.html" target="_blank">International Tax Blog</a>, the number hovered around 500 a decade ago. Last year, it hit a record high of nearly 3,000.<p>This was not a gradual change. It was a sudden spike. Thu, 20 Feb 2014 12:57:00 +0000 Ari Shapiro 54181 at http://www.kunc.org Why More Americans Are Renouncing U.S. Citizenship Mixed Reaction To Govt. Marijuana Banking Guidelines http://www.kunc.org/post/mixed-reaction-govt-marijuana-banking-guidelines <p>Long considered a linchpin in normalizing the legal marijuana trade, the federal government has issued new guidelines clarifying how banks can provide services to marijuana-related businesses.</p><p> Fri, 14 Feb 2014 21:50:42 +0000 Grace Hood 54070 at http://www.kunc.org Mixed Reaction To Govt. Marijuana Banking Guidelines