IncSmart Alaska (Small Business and Startups) -
Alaska become the forth state to legalize marijuana. Anchorage marijuana sales tax revenue continues on a steady climb. $70,000 in marijuana sales taxes in April has been collected in Anchorage. The marijuana sales tax of 5 percent was approved by Anchorage voters in April 2016. There are 9 stores that paid taxes to the city. The Department of Program Taxes and Tax Collection with Anchorage's Treasury Department reported last week.
In January of 2017 the city had its first full month of tax revenue. Over $22,000 was collected by marijuana taxes. This number increased to $37,000 in February, and then again increased in March to $57,000. Cultivators pay a $50 tax per ounce of marijuana flower, or $15 an ounce for leaves and stems. By April, Alaska's Department of Revenue had collected nearly $1 million during the roughly six months that cannabis stores had been open in Alaska, but this number is lagging behind projections. Adults age 21 and older may possess 1 ounce of marijuana and grow up to six plants for personal use. It is also legal to manufacture, sale and possess any type of marijuana paraphernalia, such as devices used for smoking or storing the plant.
By Sandy Roberts
Starting a Business in Alaska
For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form Alaska Corporations and Alaska Limited Liability Companies. When you call, email, text, message or live chat with our office, expect personal attention. Small business is the heart of IncSmart.
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