Marijuana legalization is slowly but surely spreading throughout the United States and the negative criticism of marijuana seems to be slowing down. Businesses related to marijuana are becoming more and more involved in the societies that surround them; many have even decided to donate money to charities. In fact, in the autumn, a medical marijuana company in Illinois decided to sponsor the Chicago marathon making this a first for the marijuana industry. Another marijuana business – this time in Denver – hosted a golf tournament in order to generate money to donate to sclerosis research; another donated to gay-rights groups and sponsored an AIDS walk.
“It’s not all about making money and about profiting,” co-owner of Denver Relief, Ian Seeb, stated.
For instance, Denver Relief donated to Ekar Farm and Garden, which cultivates vegetables for food banks. At the moment, there is no clear way to determine how much money marijuana businesses have donated to nonprofit organizations.
“It is a brand new public conversation,” stated a regulatory attorney who specializes in marijuana – Tom Downey – in a US News Article.
The Department of Justice has been overlooking the expanding the legal marijuana industry. It refused to comment to reporters when asked about the industry. In addition, the IRS has also refused to comment. However, what we do know is that marijuana companies are not allowed to write off donations when filing taxes. This is unfair and may even discourage marijuana companies from donating to charitable causes. Not only that, but it also means that tax revenue will be shortened for the government. Thankfully, though, marijuana companies are choosing to donate with or without the support of the government.