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Who Is Required To Purchase an Alaska/Anchorage Marijuana Surety Bond?
Both cultivation licenees and retail store licenees are required to purchase this marijuana tax bond in the amount of $10,000.
| Bond Type | Bond Amount |
|---|---|
| Anchorage marijuana tax surety bond | $10,000 |
Once a cultivator and retailer have filed correct tax returns for 24 consecutive reporting periods (months), the licensee can submit a written request to the chief fiscal officer to waive the surety bond requirement.
However, if the the licensee has committed any of the following the bond amount can be doubled to $20,000 by the chief fiscal officer.
- The responsible party that has been convicted of a crime related to taxation
- The responsible party has had a license revoked or has any delinquent tax obligations
- The responsible party has any unresolved issues regarding a prior certificate of registration
- The licensee has missed or incurred penalties for three consecutive reporting periods
- The licensee has missed or incurred penalties for at least six of the last 9 reporting periods
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Let us price shop for you and find the lowest possible price. This costs you nothing and there's no obligation to buy once you get pricing.
Need Help? Call Us Today
Talk to a bond specialist today. They will help you find the surety bond you need and get you the lowest possible price. 1-800-608-9950
Why is an Alaska Marijuana Bond Required?
Getting licensed as a marijuana establishment is a time consuming process and the Department is very specific about the requirements:
- Set up with the appropriate business structure
- Investigation into ownership
- Financial status
- Business planning
- Adding additional certifications
- Among other regulations
This marijuana tax bond is required as the primary way to hold licensees accountable to collecting and paying the correct amount of sales tax to the Treasury Division of the Municipal Finance Department of Anchorage
How Much Does an Alaska/Anchorage Marijuana Surety Bond Cost?
The Alaska marijuana surety bond requires a quoted rate from a surety. A surety is the insurance company that underwrites surety bonds.
Every surety performs their own independent assessment for risk of loss associated with an applicant using primarily these factors:
- Personal credit of the owner or owners
- Business industry and experience
- Prior bond claims (if any) if owners have been licensed in the past or in other states
BOX: The rate a surety quotes multiplied by the bond amount is the price you pay for the bond term.
Because each surety makes its own assessment, the rates can be drastically different. This discrepancy can potentially save you hundreds of dollars.
This is money you can put towards other licensing costs such as:
- Application fees
- Testing fees
- Liability insurance costs
- Establishment setup costs
Example Marijuana Bond Pricing
When you request your free quote, we will work with our network of A-rated sureties and find you the lowest possible price.
Let's use the bond amount of $10,000 for a retail marijuana store. The rates in the table below range from really good to about average.
| Bond Amount | Premium Rate | Total Cost |
|---|---|---|
| $10,000 | 0.5% | $50 |
| $10,000 | 1.0% | $100 |
| $10,000 | 1.5% | $150 |
| $10,000 | 2% | $200 |
| $10,000 | 3% | $300 |
| $10,000 | 4% | $400 |
The only way to know your price is to request a free quote and get your pricing. Have a bond specialist find the lowest price costs you nothing.
Plus there's no obligation to purchase once you get your pricing.
You have nothing to lose by seeing how low of a price you can get. Then you will be able to make the right decision for your business and goals.
How Long Does The Alaska/Anchorage Marijuana Surety Bond Last?
The Maine marijuana bond has a bond term of 12 months from the effective date.
The effective date is the date you choose for your bond to become active in coverage.
If you can provide proof to the Department of adequate financial resources in the same amount of the bond you need, you can let your bond expire.
If you need to renew your bond for another term, your bond specialist makes the process easy.
Your bond specialist will contact you 30 to 45 days in advance to make sure the renewal premium is paid on time so your bond remains active.
Once you pay the renewal premium, you don't have to do anything else. Your bond is active and you can continue business.
Request a FREE Price Quote Today
Let us price shop for you and find the lowest possible price. This costs you nothing and there's no obligation to buy once you get pricing.
Need Help? Call Us Today
Talk to a bond specialist today. They will help you find the surety bond you need and get you the lowest possible price. 1-800-608-9950
Marijuana Bonds And Getting Your Alaska Business License/Registration
There are many license types but the overall process consists of these steps:
- Online application
- Application certifications
- Marijuana establishment operating plan
- Premises diagram
- Public notice posting affidavit
- Local government notice affidavit
- Publisher's affidavit
- Statement of financial interest
- Proof of possession for proposed premises
- Entity documents
- Fingerprint cards and fees
- New application fee
- Additional steps on a per license type basis
Learn the details of the process here on Alaska's Alcohol and Marijuana Control office website.
And there are further details on the Municipality of Anchorage government site.
If you're ready to get your bond, request your free quote. Again, you have nothing to lose to have official pricing delivered to your inbox. All price quotes are good for 30 days.