Cash and taxes in Alaska

Alaska recently voted to legalise marijuana. However, as marijuana sales are still illegal at a federal level in the US, this means many banks and credit unions won’t permit marijuana businesses to open bank accounts.

In a tacit acknowledgment of this problem, the Alaskan department of revenue has set up a secure deposit safe in their offices in Anchorage, allowing owners to make their tax payments in cash. Whilst this does not resolve the many issues around in store shrinkage and the risk in transporting large bags of cash around Anchorage, it at least shows a willingness to acknowledge the issue of cash security at a goverment level.

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