[san4596]

I was just looking at my Fidelity account, which is currently around 29.02% return for the 2014. The reason for my return is due to some investments in a State Legal/Federally Illegal substance called Marijuana. Specifically, tickers MJNA, HEMP, and PHOT.

I personally do not partake due to it being illegal in both my state as well as federally. My query is for thoughts on those living in Colorado and Washington. Given that it is legal within the state, I do not see the state board having any issues. However, I would assume the AICPA would have a huge problem with CPAs in Colorado and Washington visiting with Mary Jane on the weekend. Let’s also assume these CPAs work for small local firms within the state, and not nation-wide company’s. I have already read stories of employees who use it for medical reasons being fired by national companies following federal laws.

CPA EXAM: DONE!!!!
Ethics Course: Passed
Application Mailed: 3/16/15
Professional Conduct Exam: 97
Certification Date: 4/2/15!!!

[mla1169]

I've tried it exactly twice in my 44 years but here's my take-

The AICPA couldn't care less what your recreational activities are so long as you don't have a criminal record (and not always at that.) if you're a resident of CO and legally enjoying some dubage that's no different than cigarettes-frowned on but not an issue.

Since pot has only been legal in 2 states for about 30 days I'm assuming the stories you've read are older and/or in states where it is still illegal. I'm not convinced someone in a state where it is completely legal could lose their job based on federal law. They'd have a nice lawsuit if that happened.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[mla1169]

I've tried it exactly twice in my 44 years but here's my take-

The AICPA couldn't care less what your recreational activities are so long as you don't have a criminal record (and not always at that.) if you're a resident of CO and legally enjoying some dubage that's no different than cigarettes-frowned on but not an issue.

Since pot has only been legal in 2 states for about 30 days I'm assuming the stories you've read are older and/or in states where it is still illegal. I'm not convinced someone in a state where it is completely legal could lose their job based on federal law. They'd have a nice lawsuit if that happened.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[san4596]

One specific story was a man who worked for Dish in a state that it was legal for a medical condition. He took all the appropriate steps to get a script and register with the state. Dish is a nationwide company that operates based on federal laws. He was upfront with his boss when asked, and failed a drug test. Ofcourse, this is all assuming the journalist got the story straight, and that the guy did not show up to work wasted.

CPA EXAM: DONE!!!!
Ethics Course: Passed
Application Mailed: 3/16/15
Professional Conduct Exam: 97
Certification Date: 4/2/15!!!

[san4596]

One specific story was a man who worked for Dish in a state that it was legal for a medical condition. He took all the appropriate steps to get a script and register with the state. Dish is a nationwide company that operates based on federal laws. He was upfront with his boss when asked, and failed a drug test. Ofcourse, this is all assuming the journalist got the story straight, and that the guy did not show up to work wasted.

CPA EXAM: DONE!!!!
Ethics Course: Passed
Application Mailed: 3/16/15
Professional Conduct Exam: 97
Certification Date: 4/2/15!!!

[mla1169]

Yeah there has to be more to that story. You're right that journalists only share facts that sell.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[mla1169]

Yeah there has to be more to that story. You're right that journalists only share facts that sell.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[fiona87]

@mla1169 –

“Since pot has only been legal in 2 states for about 30 days I'm assuming the stories you've read are older and/or in states where it is still illegal. I'm not convinced someone in a state where it is completely legal could lose their job based on federal law. They'd have a nice lawsuit if that happened”

It's only been legal for RECREATIONAL use in 2 states for about 30 days. It's been legal elsewhere for medicinal purposes for longer than that.

FAR - 79 (11/27/13)
AUD - 76 (2/1/14)
REG - 77 (5/30/14)
BEC - 88 (7/18/14)

MN Ethics - 100% (3/9/14)

AND DONE! 8/1/14

[fiona87]

@mla1169 –

“Since pot has only been legal in 2 states for about 30 days I'm assuming the stories you've read are older and/or in states where it is still illegal. I'm not convinced someone in a state where it is completely legal could lose their job based on federal law. They'd have a nice lawsuit if that happened”

It's only been legal for RECREATIONAL use in 2 states for about 30 days. It's been legal elsewhere for medicinal purposes for longer than that.

FAR - 79 (11/27/13)
AUD - 76 (2/1/14)
REG - 77 (5/30/14)
BEC - 88 (7/18/14)

MN Ethics - 100% (3/9/14)

AND DONE! 8/1/14

[fiona87]

Also here's more on the case @san4596 was referring to:

https://www.natlawreview.com/article/colorado-supreme-court-to-review-lawful-use-medical-marijuana

and

https://www.jacksonlewis.com/resources.php?NewsID=4459 (linked from that first article)

FAR - 79 (11/27/13)
AUD - 76 (2/1/14)
REG - 77 (5/30/14)
BEC - 88 (7/18/14)

MN Ethics - 100% (3/9/14)

AND DONE! 8/1/14

[fiona87]

Also here's more on the case @san4596 was referring to:

https://www.natlawreview.com/article/colorado-supreme-court-to-review-lawful-use-medical-marijuana

and

https://www.jacksonlewis.com/resources.php?NewsID=4459 (linked from that first article)

FAR - 79 (11/27/13)
AUD - 76 (2/1/14)
REG - 77 (5/30/14)
BEC - 88 (7/18/14)

MN Ethics - 100% (3/9/14)

AND DONE! 8/1/14

[mla1169]

Right but you're missing the point. Its not established yet that he was LEGALLY fired. The case is pending in the Colorado supreme court.

Companies wrongfully terminate employees all the time (it just happened where I work) for the most obscure reasons. Just because I know of somebody who got fired for breaking her arm and not being able to give a definite date that she would return to work. I'd hardly worry that breaking my arm would put my job in peril even though I can show you it actually happened.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[mla1169]

Right but you're missing the point. Its not established yet that he was LEGALLY fired. The case is pending in the Colorado supreme court.

Companies wrongfully terminate employees all the time (it just happened where I work) for the most obscure reasons. Just because I know of somebody who got fired for breaking her arm and not being able to give a definite date that she would return to work. I'd hardly worry that breaking my arm would put my job in peril even though I can show you it actually happened.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[fiona87]

Not missing the point at all, I'm not commenting on the case one way or the other, just providing a link to an article about the case @san4596 was referring to.

FAR - 79 (11/27/13)
AUD - 76 (2/1/14)
REG - 77 (5/30/14)
BEC - 88 (7/18/14)

MN Ethics - 100% (3/9/14)

AND DONE! 8/1/14

[fiona87]

Not missing the point at all, I'm not commenting on the case one way or the other, just providing a link to an article about the case @san4596 was referring to.

FAR - 79 (11/27/13)
AUD - 76 (2/1/14)
REG - 77 (5/30/14)
BEC - 88 (7/18/14)

MN Ethics - 100% (3/9/14)

AND DONE! 8/1/14

[I'm, Ron Burgundy?]

For the life of me I still cannot figure out why the undeniable destroyer of lives, alcohol, is legal and the other is still an uphill battle to pass legalization legislation – at a minimum for medical purposes.

On the positive side, if you live in either of the two states you are now open to a new market in need of services. However, I recently read that there is a gray area involved with Federal banks not being able to open business accounts for a Federally illegal activity. Therefore, nearly all of these businesses are having to keep large amounts of cash on hand. The fear is that the Cartels and organized crime (i.e. money laundering) will begin to take over the market simply based on this. Accounting nightmare? I think so.

"If you're going through hell, keep going"
- Winston Churchill

"I've missed over 9,000 shots in my career. I've lost over 300 games. 26 times I've been trusted to take the game winning shot, and missed. I've failed, over and over and over again in my life. And that is why, I succeed."
- Michael Jordan

BEC: (54), (72), 80 (losing credit on 02/02/15 - nervous)
AUD: 78
REG: (74), 91
FAR: (71)

[Author]

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