Such an operation could have significant legal and tax consequences.. While you may gain general guidance from this site, your operation will likely be fact specific, requiring very specific advice. You should speak to a knowledgeable business/tax attorney in your area before moving forward. Good luck.
The comments by this author to questions posted on Avvo are designed to foster a general understanding of what might be the law governing the area of the legal problem stated and suggest what might be the approach to finding a legal solution. Under no circumstances is this author acting as the attorney for the party who posted the question or as the attorney for subsequent readers to the question or response and no attorney client relationship is being formed. This attorney's comments are not intended to be a substitute for getting legal advice from a licensed attorney. A reader of this author's comments should never act on the information provided in these comments as though these comments were legal advice and should always seek legal advice in a personal consultation with an attorney in their jurisdiction before taking action. The information provided here is not intended to cover every situation with similar facts. Please remember that the law varies between states and other countries and is always changing through actions of the courts and the Legislature. In accordance with IRS regulations, I must inform you that any US tax advice contained in this message was not intended or written to be used, and cannot be used, for the purpose of avoiding penalties that may be imposed under federal tax law. By regulation, a taxpayer cannot rely on professional advice to avoid federal tax penalties unless that advice is reflected in a comprehensive tax opinion that conforms to strict requirements.
Well, remember that just because certain states have legalized marijuana it is still illegal under federal law. So I think this will be very problematic.
Having said that, I am by no means an expert in marijuana law and perhaps there is a way to conduct your fund raising without running afoul of federal law, but you will need to invest in some legal help to explore all the aspects as there is no straight-forward answer.
Most of us here, including myself, offer a free phone consult.
The law firm of Natoli-Lapin, LLC (Home of Lantern Legal Services) offers our flat-rate legal services in the areas of business law and intellectual property to entrepreneurs, small-to-medium size businesses, independent inventors and artists across the nation and abroad. Feel free to call for a free phone consultation; your inquiries are always welcome: CONTACT: 866-871-8655 Support@LanternLegal.com DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.
As noted by my colleagues, this is a complicated question and it is not possible to provide a yes or no answer without considerably more research. As a general matter, this would not be accepted on any of the known crowdfunding portals now so you would have to create something independently.
Ultimately you will need to speak with a Colorado business attorney to advise you and discuss matters. Good luck.
This answer is for informational purposes only and is not legal advice regarding your question and does not establish an attorney-client relationship.