Good Morning - As the medical marijuana industry evolves in Florida, we are seeing cannabis grow house facilities (legal ones!) popping up in co-op territories.  As you probably know, since the federal government still recognizes cannabis as an illegal drug, owners of new cannabis distribution centers are precluded from maintaining federally insured bank accounts which in most instances requires them to pay bills in cash.  The attached NRECA article points out the IRS requirements you will need to follow if a customer pays their bill in cash and the bill is over $10,000.

Michelle Hershel
Director of Regulatory Affairs
Florida Electric Cooperatives Assoc.
2916 Apalachee Parkway
Tallahassee, FL  32301
Cell:  (850) 510-1693
(850)877-6166, ext. 3

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