This is how Alaska businesses will have to make marijuana tax payments to the state

This Is How Alaska Businesses Will Have To Make Marijuana Tax Payments To The State

Published: Nov 17, 2016, 6:54 am • Updated: Nov 17, 2016, 7:02 am By Becky Bohrer, The Associated Press ANCHORAGE, Alaska — With legal cannabis sales underway in Alaska, growers will soon be submitting their first marijuana 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...

See Article on The Cannabist HERE