“On account of its federal status [as a Schedule I drug], most big law firms don’t want to touch weed,” [attorney Amanda] Connor explains. “Ethically, lawyers aren’t supposed to give advice about illegal activities. Major firms are afraid to lose clients.” Her boutique firm may be the only one in the country that takes marijuana providers through the entire byzantine process, from licensing to opening a shop.
Another renegade is Boulder, Colorado-based marijuana tax law attorney Rachel Gillette. She recently sued the IRS—and won—on behalf of a client who was denied an abatement of a 10 percent penalty for paying his taxes in cash. But cash was the only option: Because of federal law, marijuana enterprises deal only in cash, as banks shun them. “It’s a difficult situation for many marijuana businesses, with regard to banking,” says Gillette. “Most banks do not take marijuana business accounts, even in states where it is legal. They can’t afford the compliance cost. It’s too risky.” So far, Gillette has been the only marijuana attorney to beat the IRS on this issue.
—Gogo Lidz, writing in Newsweek about how female medical personnel, scientists, strategists and investors are advancing America’s booming weed business and rapidly shifting it from a male dominated industry.