While Oregon marijuana industry stakeholders wait for more banks to engage the industry, cash tax payments are straining the Oregon Department of Revenue’s ability to process mountains of marijuana moola!
“As many of you know, the Department of Revenue has been processing cash payments of marijuana taxes because many businesses have struggled to get access to conventional banking services. As the market continues to grow, we anticipate an increase in cash payments over the next several months. Because we’re expecting more cash payments, we need the entire payment process to go as smoothly as possible, but we’ve been running into some issues. For example, appointment slots late in the month are usually all full, which leaves us with little to no time between appointments. When someone’s appointment runs over the scheduled time because they arrived late or brought a much larger payment than we planned for, it puts us behind schedule for the rest of the day. This inconveniences our other taxpayers. To help us make payment processing more efficient, keep these tips in mind: 1. If possible, please schedule your appointment for earlier in the month. This is particularly important if you’re paying on behalf of multiple locations because it will take longer for us to process multiple payments. 2. Please schedule your appointment at least 48 hours in advance. Consider setting up your next monthly appointment at the end of your current month’s appointment. 4. Please bring the money sorted by denomination, facing the same way, and ready to be counted. We don’t want to turn away any payments, but we also want to ensure that our service is safe, accurate, and quick. We also reserve the right to reject payments from businesses that don’t abide by the requirements in OAR 150-305-0018. (http://arcweb.sos.state.or.us/pages/rules/oars_100/oar_150/150_305.html). We appreciate your cooperation!” Marijuana Tax Administration |
