Business currency

ericahls · Jul 11, 2012

Business currency defined

FYI.

For those of you who just received your CCW permit and are business owners, I just received clarification of what the state of Maryland considers business currency.

"Greetings, business currency is cash or checks for your business or from your business to the bank or where ever you conduct business transactions with currency." - Michael A Jones; michaela.jones@maryland.go

So as I read it as long as you have business currency, and you're the owner, you can carry 24/7 because it's up to you to decide when and where you conduct business transactions with currency.

lx1x · Jul 11, 2012

do your bills and coin have "business only" on them?!? LOL

kinda hard to prove that any money on your wallet/pocket is for "business only". be smart and dont try to find a "loopholes". just my 2 cents.

Kimerazor · Jul 11, 2012

Currency "or something of value".

As defined by the FBI, credit cards are currency.

"something of value" - this can be gold teeth, a contract, equipment, etc.

If you have a restricted license, i.e. between home, business, & bank, you could get in trouble depending on what your business is or where you are carrying (Dowtown Baltimore if your retail location is 100 miles from there).

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ericahls · Jul 11, 2012

Kimerazor said:
Currency "or something of value".

As defined by the FBI, credit cards are currency.

"something of value" - this can be gold teeth, a contract, equipment, etc.

If you have a restricted license, i.e. between home, business, & bank, you could get in trouble depending on what your business is or where you are carrying (Dowtown Baltimore if your retail location is 100 miles from there).

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Most everyone I have heard who got a permit for business has or while carrying business currency as owner in addition to between home, business, & bank. So that opens up to anywhere in Md and when ever you conduct business as owner.

If their restriction is just between home, business, & bank, well then they are SOL :sad20:

ericahls · Jul 11, 2012

lx1x said:
do your bills and coin have "business only" on them?!? LOL

kinda hard to prove that any money on your wallet/pocket is for "business only". be smart and dont try to find a "loopholes". just my 2 cents.

I carry an envelope which clearly states that the money within is 'Business currency' and is only allowed to be carryed by the owner.

huesmann · Jul 11, 2012

for your business or from your business to the bank or where ever you conduct business transactions

I suggest you pay closer attention to this language. Unless you conduct business everywhere you go, you may have trouble with Johnny Law.

Straightshooter · Jul 11, 2012

ericahls said:
Most everyone I have heard who got a permit for business has or while carrying business currency as owner in addition to between home, business, & bank. So that opens up to anywhere in Md and when ever you conduct business as owner.

If their restriction is just between home, business, & bank, well then they are SOL

That is basically what the letter clarifying "business currency " says. It
I think your interpretation is far too loose to bank on.

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NY Transplant · Jul 11, 2012

huesmann said:
I suggest you pay closer attention to this language. Unless you conduct business everywhere you go, you may have trouble with Johnny Law.

Loan sharks conduct business where ever they go, don't they? :innocent0

ericahls · Jul 11, 2012

huesmann said:
I suggest you pay closer attention to this language. Unless you conduct business everywhere you go, you may have trouble with Johnny Law.

Buying breakfast, a ream of paper, book of stamps, etc. are all conducting business transactions since I am the owner of the company.

There are a lot of businesses that have a minimum $10 charge in order to use a credit card so cash is a must.

CypherPunk · Jul 11, 2012

ericahls said:
Buying breakfast, a ream of paper, book of stamps, etc. are all conducting business transactions since I am the owner of the company.

There are a lot of businesses that have a minimum $10 charge in order to use a credit card so cash is a must.

Requiring a minimum charge is a violation of your contract with your credit card processor. On an unrelated note, so are most instances of a 'convenience fee'.

ericahls · Jul 12, 2012

CypherPunk said:
Requiring a minimum charge is a violation of your contract with your credit card processor. On an unrelated note, so are most instances of a 'convenience fee'.

That maybe true but I don't have time to debate the legality of a minimum purchase with the merchant. Easier to just pay cash and go on my merry way.

CypherPunk · Jul 12, 2012

I send a copy of the receipt to Visa/MasterCard.

Typically, within 3-4 weeks the merchant no longer charges a credit card fee or they lose their ability to accept credit cards.

Mdeng · Jul 12, 2012

CypherPunk said:
I send a copy of the receipt to Visa/MasterCard.

Typically, within 3-4 weeks the merchant no longer charges a credit card fee or they lose their ability to accept credit cards.

A business can easily change the wording to "Cash Discount" to avoid any problems with the credit card company. I see this done often at gun shops, its normally a 3% discount.

huesmann · Jul 12, 2012

ericahls said:
Buying breakfast, a ream of paper, book of stamps, etc. are all conducting business transactions since I am the owner of the company.

Yes, and they are also normal and every day transactions that do not require one to carry large sums. You're not going to be able to claim those sorts of things as a business transaction just because you happen to own a business.

ericahls · Jul 12, 2012

huesmann said:
Yes, and they are also normal and every day transactions that do not require one to carry large sums. You're not going to be able to claim those sorts of things as a business transaction just because you happen to own a business.

What's this hang up with large sums? I went through the interview process I spoke with the trooper the bottom line is you don't need large sums of cash in order to qualify.

Any transaction that I need to engage in as the owner is a business transaction.

ericahls · Jul 12, 2012

CypherPunk said:
I send a copy of the receipt to Visa/MasterCard.

Typically, within 3-4 weeks the merchant no longer charges a credit card fee or they lose their ability to accept credit cards.

I've never actually seen a credit card charge fee, they just flat out refused to charge for anything under a certain amount.

Merlin · Jul 13, 2012

I think that after it is established that you the business owner with the MSP, you should have the right to carry 24/7 because how does the bad guy know when you're carrying your business money. If your the business owner you could have the money on you any time.

So is the ccw for the protection of the person or the money? The MSP grants the ccw to business owners because as the business owner they say you have G&S as being in more danger then the average person because of the money they carry. But who knows when that is other than the business owner themselves?

Armored Car employees carry no matter if they have money in the truck or not because they are in danger just because they drive the truck.

In contrast off duty police as well as retired police carry because they are in danger because of what they do or did. The bad guy doesn't say, "well there off duty so I will leave them alone.

ericahls · Jul 13, 2012

Merlin said:
I think that after it is established that you the business owner with the MSP, you should have the right to carry 24/7 because how does the bad guy know when you're carrying your business money. If your the business owner you could have the money on you any time.

So is the ccw for the protection of the person or the money? The MSP grants the ccw to business owners because as the business owner they say you have G&S as being in more danger then the average person because of the money they carry. But who knows when that is other than the business owner themselves?

Armored Car employees carry no matter if they have money in the truck or not because they are in danger just because they drive the truck.

In contrast off duty police as well as retired police carry because they are in danger because of what they do or did. The bad guy doesn't say, "well there off duty so I will leave them alone.

I agree but this is Maryland and they like to control everything. However, with the addition of 'or while carrying business currency as the owner ' in the restriction it kind of does give you the 24/7

.

Kimerazor · Jul 13, 2012

Merlin said:
I think that after it is established that you the business owner with the MSP, you should have the right to carry 24/7 because how does the bad guy know when you're carrying your business money. If your the business owner you could have the money on you any time.

So is the ccw for the protection of the person or the money? The MSP grants the ccw to business owners because as the business owner they say you have G&S as being in more danger then the average person because of the money they carry. But who knows when that is other than the business owner themselves?

Armored Car employees carry no matter if they have money in the truck or not because they are in danger just because they drive the truck.

In contrast off duty police as well as retired police carry because they are in danger because of what they do or did. The bad guy doesn't say, "well there off duty so I will leave them alone.

I asked a higher up at MSP about a criminal observing me make a large bank deposit one day & the next day I am walking from my business to anywhere without cash (& a MD reason) to carry what's saying that the criminal won't attack me then? The response, (paraphrased)...if you don't have a reason to carry on that day & you use your firearm, you will be in trouble.

WTF???

THANKS DUMBO-CRATS!!

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Merlin · Jul 13, 2012

ericahls said:
I agree but this is Maryland and they like to control everything. However, with the addition of 'or while carrying business currency as the owner ' in the restriction it kind of does give you the 24/7

.

But I think that will really come into play all depending on the LEO that may show up if you run into any issues at all. One LEO will not care less, another LEO will want to see documentation proving your on your way to of from the bank.

It's just like anything else. Some of these guys will lock up their own mother.

Business currency

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