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To: Hojczyk

“Some states in the US you cannot make cash transactions above a certain amount.”

Yeah, I don’t believe that states can regulate the maximum amount of cash one can spend.


3 posted on 02/14/2017 8:32:10 AM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: catnipman
Yeah, I don’t believe that states can regulate the maximum amount of cash one can spend.

Perhaps not, but they do have reporting requirements. Deposit X number of dollars in cash in your bank account in one transaction, the bank reports it. Deposit Y number of dollars in cash in your bank account (where Y is below the reporting requirement) in such a way as to look like you're deliberately trying to avoid the reporting requirement, and the bank reports it and the DA can come after you.

It's been standing law for a generation that any cash transaction over $10,000 must be reported to the Feds. This number will have changed over the years since then depending on the jurisdiction.

6 posted on 02/14/2017 8:37:36 AM PST by Oberon (John 12:5-6)
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To: catnipman

The states, just like the fed already does, can add paperwork though. They usually do this at the bank level, banks have paperwork to fill out handing out large quantities of cash, and paperwork when they take it in. Any business that doesn’t want to hassle with that kind of paperwork limits the cash they take in.


14 posted on 02/14/2017 8:50:06 AM PST by discostu (There are times when all the world's asleep, the questions run to deep, for such a simple man.)
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