A Pot Merchant Visits the Tax Man, Carrying Cash and a Gun

February 20, 2014

Doing business at the 3D Cannabis Center in Denver

Photograph by Craig F. Walker/The Denver Post via Getty Images

Doing business at the 3D Cannabis Center in Denver

“Here’s the first one,” Elliott Klug said as he reached into a soft-sided briefcase and handed over a tax document and manila envelope filled with more than $3,000 in cash. Klug stood in front of the counter facing a Colorado official to pay taxes for Pink House, the chain of marijuana stores he founded.

Despite his laid-back appearance, which features a straggly ponytail and mutton chops, Klug’s money was neatly bundled in stacks of $,1000 or $2,000, sorted by denomination; all bills faced the same way. “I guess I’m OCD or something,” he said with a chuckle. Klug had trained his staff to organize the money this way to enforce precision. “I hated going somewhere and finding out I was $20 short,” he explained.

Today is Colorado’s deadline for tax filings

http://www.businessweek.com/articles/2014-02-20/a-pot-merchant-visits-the-tax-man-carrying-cash-and-a-gun?campaign_id=yhoo

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