Delaware Marijuana Legalization Task Force Looks at Potential Im - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Delaware Marijuana Legalization Task Force Looks at Potential Impact on Taxes, Banking

Posted: 11/01/2017 19:30:00 -04:00 Updated:

DOVER, Del. --- A task force examining what a system for legalized marijuana in Delaware would look like met on Wednesday and looked at topics involving business community, taxes, and banks.

The panel, which met for its third session on Wednesday, is set to issue a report about the potential of legalizing the recreational use of marijuana in Delaware and set up a system to tax and regulate the drug and its products.

Robert Glen, Delaware's state banking commissioner, said businesses offering marijuana products in states where the drug is legal are frequently cash businesses because banks have to follow federal laws. Cannabis remains illegal at the federal level.

"That creates a lot of issues for businesses and safety and security of their customers, people coming to and from the businesses. With all this cash moving around, it's a big challenge for them," he said.

Glen said taxation would also be an issue for Delaware marijuana businesses, if legislation is passed to legalize the drug in the First State. A bill enacting such a change was introduced this year in the House and released from a committee, though it did not recieve a full a vote in the General Assembly's lower chamber.

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