Next Milestone for Alaska’s Young Pot Industry: Paying Taxes

Next Milestone For Alaska’s Young Pot Industry: Paying Taxes

BY BECKY BOHRERASSOCIATED PRESSANCHORAGE, Alaska (AP) — With legal marijuana sales underway in Alaska, growers will soon be submitting their first tax payments to the state.For most businesses, that wouldn’t be a problem: They’d just cut a check. But some banks are leery about dealing with pot businesses since marijuana remains illegal at the federal level. And that means, at least initially, Alaska’s legal cannabis businesses could have to make their tax payments to the state by dropping off or mailing bundles of cash.HOW IT WILL WORKThe Department of Revenue has set up a deposit safe in downtown Anchorage, Alaska’s only in-person drop site for cash, in a state office where people pay child support and can sign up for Alaska’s yearly oil wealth fund check. Businesses given a key to access the drop site will place tamper-resistant bags into a tray and close a cover. The bags will then drop into a drum and down a chute to a safe.The state also is offering a by-mail option, where...

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