Bill > HB94

This bill makes several changes to Alaska's marijuana regulations and tax laws. First, it modifies marijuana establishment registration from an annual to a biennial (two-year) system, which affects how the state board and local governments process and renew marijuana business registrations. The bill also reduces the marijuana cultivation facility excise tax from $50 to $12 per ounce and removes language about establishing lower tax rates for certain plant parts. Additionally, the bill introduces a new tax exemption for qualified small businesses, specifically Alaska corporations that meet certain federal small business requirements, excluding businesses in construction, transportation, utility, and fisheries sectors. The bill imposes a tax on marijuana cultivation by individuals without a valid registration and establishes penalties for tax delinquency. The changes to tax and registration provisions will apply to tax years beginning on or after the effective date, which is set for July 1, 2025. These modifications aim to streamline marijuana business regulations, adjust tax rates, and provide some tax relief for small businesses in the marijuana industry.

Business and Industry

https://www.akleg.gov/basis/Bill/Detail/34?Root=HB94