• This photo taken Monday, Nov. 14, 2016, in downtown Anchorage, Alaska, shows Kelly Mazzei, revenue audit supervisor for the state of Alaska tax division, posing with a deposit safe intended for marijuana businesses to pay their taxes in cash. It's the only in-person drop-site for cash tax payments for marijuana businesses. Banking remains an issue for legal pot businesses in Alaska, since marijuana is still considered an illegal drug on the federal level. (AP Photo/Mark Thiessen)

    This photo taken Monday, Nov. 14, 2016, in downtown Anchorage, Alaska, shows Kelly Mazzei, revenue audit supervisor for the state of Alaska tax division, posing with a deposit safe intended for marijuana businesses to pay their taxes in cash. It's ... the only in-person drop-site for cash tax payments for marijuana businesses. Banking remains an issue for legal pot businesses in Alaska, since marijuana is still considered an illegal drug on the federal level. (AP Photo/Mark Thiessen) (The Associated Press)

  • This photo taken Monday, Nov. 14, 2016, in downtown Anchorage, Alaska, shows the state office where a deposit safe is located for marijuana businesses to pay their taxes in cash. It's the only in-person drop-site for cash tax payments for marijuana businesses. Banking remains an issue for legal pot businesses in Alaska, since marijuana is still considered an illegal drug on the federal level. (AP Photo/Mark Thiessen)

    This photo taken Monday, Nov. 14, 2016, in downtown Anchorage, Alaska, shows the state office where a deposit safe is located for marijuana businesses to pay their taxes in cash. It's the only in-person drop-site for cash tax payments for marijuana ... businesses. Banking remains an issue for legal pot businesses in Alaska, since marijuana is still considered an illegal drug on the federal level. (AP Photo/Mark Thiessen) (The Associated Press)

  • This photo taken Monday, Nov. 14, 2016, in downtown Anchorage, Alaska, shows the state office where a deposit safe is located for marijuana businesses to pay their taxes in cash. It's the only in-person drop-site for cash tax payments for marijuana businesses. Banking remains an issue for legal pot businesses in Alaska, since marijuana is still considered an illegal drug on the federal level. (AP Photo/Mark Thiessen)

    This photo taken Monday, Nov. 14, 2016, in downtown Anchorage, Alaska, shows the state office where a deposit safe is located for marijuana businesses to pay their taxes in cash. It's the only in-person drop-site for cash tax payments for marijuana ... businesses. Banking remains an issue for legal pot businesses in Alaska, since marijuana is still considered an illegal drug on the federal level. (AP Photo/Mark Thiessen) (The Associated Press)

Next milestone for Alaska's young pot industry: paying taxes

Markets Associated Press

With legal marijuana sales underway in Alaska, growers will soon be submitting their first tax payments to the state.

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For most businesses, that wouldn't be a problem: they'd just cut a check.

But some banks are leery about dealing with pot businesses since marijuana remains illegal on the federal level. Cary Carrigan, executive director of the Alaska Marijuana Industry Association, thinks it will be an all-cash business in Alaska for now.

Alaska's first authorized testing lab for recreational marijuana opened last month, followed by the first retail cannabis shops. In Alaska, growers are required to pay taxes on sales and transfers of marijuana. The state expects to receive its first tax revenues this month.