Alaska Cannabis Businesses Owe Nearly $1.8M in Back Taxes

Ganjapreneur reports

Alaska cannabis businesses owe nearly $1.8 million in back taxes due to a flat-tax structure paid by growers instead of at the point-of-sale.

By the end of June, Alaska cannabis businesses owed $1,785,751 in back taxes, and the state Marijuana Control Board has started shutting down the businesses for non-payment, the Anchorage Daily News reports. In Alaska, cannabis taxes aren’t charged at the point-of-sale, rather paid by growers who say that flat tax structure — $800 per pound on flower and $240 per pound for concentrates — requires them to pay the same amount of money regardless of the end-product quality.

In the fiscal year 2021, Alaska regulators collected just under $29 million, so the $1.8 million in unpaid taxes is a small portion of the total taxes that cultivators pay the state.

Read more at    https://www.ganjapreneur.com/alaska-cannabis-businesses-owe-nearly-1-8m-in-back-taxes/

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