What is an Alaska marijuana bond?
Alaska marijuana bonds are surety bonds that hold businesses accountable to marijuana licensing rules and state laws. To meet Alaska’s licensing requirement, cannabis-related companies must post the surety bond.
The Alcohol and Marijuana Control Office is the regulating authority. The Marijuana Control Board, specifically, acts as the regulatory and quasi-judicial agency to control the cultivation, manufacturing, and sale of marijuana in Alaska.
There are three types of marijuana bonds in Alaska: retail marijuana tax bonds, medical marijuana dispensary bonds, and marijuana cultivation facility bonds. If you try to sell cannabis illegally or without a valid license, you could face a $10,000 fine and be subject to criminal prosecution.
Get Your Alaska Marijuana Bond:
- To meet Alaska’s licensing requirement, cannabis-related businesses must post a surety bond.
- There are three types of marijuana bonds in Alaska: retail marijuana tax bonds, medical marijuana dispensary bonds, and marijuana cultivation facility bonds.
- If you try to sell cannabis illegally or without a valid license, you could face a $10,000 fine and be subject to criminal prosecution.
- Alaska requires cultivation facilities and medical marijuana dispensaries to post a $5,000 bond. Retailers in Anchorage may need to post a bond of $10,000 or more.
Types of Alaska Cannabis Surety Bonds
1. Retail Marijuana Tax Bond
This bond is specific to the municipality of Anchorage and requires retailers to file tax returns and make tax payments on time. The bond should be payable to the city and conditioned upon payment of taxes, including penalties and interest. The surety bond amount will be equal to whichever of the following is the highest:
- The average amount of annual sales tax collected by the retailer
- Sales tax collected by a comparable retailer
- The industry average of yearly sales tax collected
Retailers may provide a deposit in escrow or a letter of credit in place of the surety bond as a financial guarantee. See AMC 12.50.160 (Retail Sales Tax on Marijuana and Marijuana Products) to learn more.
2. Medical Marijuana Dispensary Bond
Any dispensary in Alaska that wishes to sell or distribute medical marijuana must obtain this bond to become licensed, guaranteeing adherence to state laws.
3. Marijuana Cultivation Facility Bond
Businesses that wish to grow and cultivate cannabis must obtain this bond to ensure payment of excise taxes.
How much do Alaska marijuana bonds cost?
The cost of your bond will depend on the type of bond you need and your credit score, among other factors. Alaska requires cultivation facilities and medical marijuana dispensaries to post a $5,000 bond. See the “Retail Marijuana Tax Bond” section above to determine how much coverage you need for a retail marijuana bond.
You will pay a small percentage of the total bond amount as your premium. You might pay as low as 1% of the $5,000 bond if you have excellent credit.
Get a Marijuana Bond in Alaska
We can help you find the right marijuana bond for your business so you can quickly apply and get bonded. Our all-digital platform is secure, intuitive, and straightforward. Many of our bonds are issued instantly. Begin your application online or call 888-435-4191 to speak with one of our agents directly.
Founders Ryan Swalve and Zach Mefferd formed the vision for ZipBonds.com when they realized how overly complicated it was to help clients place surety. The frustration of being unable to incorporate the technology they’d used in other insurance-focused projects left them thinking “there has to be a better way.”
Fast forward a couple of years, and that better way is the impetus of everything we do at ZipBonds. We constantly look for innovative ways to improve the bonding process for our clients and agents. Our team comprises individuals who understand all angles of surety – for companies, agencies, and individuals. Incorporating everyone’s point of view to improve the process while simultaneously integrating cutting-edge technology is what sets our business apart.