Bill > SB73

This bill makes several changes to Alaska's marijuana laws and tax regulations. It modifies marijuana establishment registrations from annual to biennial (two-year) cycles, affecting how the state board and local governments issue and renew marijuana business registrations. The bill reduces the marijuana cultivation facility excise tax from $50 to $12 per ounce and clarifies tax liability for cultivators operating without valid registrations. Additionally, the bill introduces a new tax exemption for qualified small businesses, specifically Alaska corporations that meet certain federal small business criteria defined in the U.S. tax code as of January 1, 2012. The exemption applies to corporations that are not in construction, transportation, utility, or fisheries sectors, and corporations in the same parent-subsidiary controlled group will be treated as one entity for qualification purposes. The changes to registration processes and tax regulations aim to streamline marijuana business operations and provide tax relief for smaller enterprises. The bill is set to take effect on July 1, 2025, and will apply to tax years and tax accruals beginning on or after its effective date.

Budget and Finance, Business and Industry

https://www.akleg.gov/basis/Bill/Detail/34?Root=SB73