Worlds Online Inc. (OTCMKTS:WORX)’s Subsidiary Advocates For Fair Cannabis Business Taxation

MariMed Advisors, which is a subsidiary of Worlds Online Inc. (OTCMKTS:WORX), has launched ‘28 days of patient awareness’ campaign on social media platform. The objective is to generate awareness among people on medical marijuana use.

Sara Gullickson, the Executive Director of DispensaryPermits.com  will be meeting lawmakers on Capitol Hill, to advocate equal banking access and fair taxation for medical cannabis businesses. She is also co-chair of ‘Women Grow-Phoenix Chapter.’

The objective

Gullickson, who is a part of Worlds Online Inc. (OTCMKTS:WORX), family is advocating fair taxation for cannabis industries and banking access on Capitol Hill, with WomenGrow and the National Cannabis Industry Association. Women Grow is a national group that consists of female entrepreneurs of Cannabis industry. Gullickson said that the change is for good that will assist in achieving a healthy business client for diversity and entrepreneurship. More than 60 delegates from NCIA will join the lobbying measures.

The matter

There are as many as 23 U.S. states that have approved the legalization of medical marijuana. Many of the physicians are of view that there is enough preliminary data which proves that marijuana is helpful in the treatment of certain medical conditions and symptoms. Despite this, the state-legal marijuana businesses have to pay higher taxes due to the Federal Tax Code Amendment 280E.

The federal ban

The Federal Government still classifies all cannabis under Schedule I of the Controlled Substances Act, causing major problems for the cannabis industry. The federal tax code ‘amendment 280E’ denies tax exemptions to business dealing in cannabis, which is a federally controlled substance. As the U.S. banks follow federal regulation, they don’t have any option but to deny financial and banking services to cannabis businesses. Gullickson of Worlds Online Inc. (OTCMKTS:WORX), said that the marijuana advocates are urging legislators to change the regulations that make it extremely tough for cannabis entrepreneurs to provide needed medical marijuana treatments to patients in legalized states.

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