Doer
Well-Known Member
That is for all businesses. The "not true" is that you are saying the CO industry is bank free.True.
Internal Revenue Service requires all businesses to pay the quarterly employee withholding tax by bank wire. Any employer of actual people would know this to be true. There is indeed a 10% penalty for using cash, this is the law in every state.
http://www.denverpost.com/business/ci_26075425/irs-fines-unbanked-pot-shops-paying-federal-payroll