A. Every distributor or marijuana cultivation facility shall, on or before the last day of the month succeeding the end of each quarter year ending March 31st, June 30th, September 30th and December 31st, complete an excise tax return for the preceding quarter year upon forms to be furnished by the borough, and sign and transmit the return to the borough manager. The return must include a total count of the number of packs of cigarettes and the wholesale price of the other tobacco products brought into the borough during the preceding quarter, the amount of marijuana sold or transferred to retail marijuana stores and marijuana product manufacturing facilities (including the total number of ounces, including fractional ounces, sold or transferred, the names and Alaska address of each buyer and transferee, and the weight of marijuana sold or transferred to the respective buyers or transferees), the amount of excise tax due, and other information and supporting documentation as the borough may require.

B. Subject to subsection (C) of this section, the tax levied under this chapter must be remitted by the distributor or marijuana cultivator to the borough at the time of transmitting the return, and if not so remitted or if the return is not filed in a timely manner, such tax is delinquent. The postmark shall determine the date of filing mailed returns. In addition, a late payment penalty of 10 percent for the first month or any fraction thereof, and an additional five percent per month accrued, until a total late payment penalty of 25 percent has accrued shall be added to all returns until such tax, penalty, and interest thereon have been paid. Such penalty shall be assessed and collected in the same manner as the tax is assessed and collected. In addition to these penalties, interest at a rate of 15 percent per year on the delinquent tax, from the date of delinquency until paid, shall accrue and be collected in the same manner the delinquent tax is collected.

C. The distributor or marijuana cultivator shall report and remit excise tax to the borough on the same basis, cash or accrual, the distributor or marijuana cultivator uses for reporting federal income tax. A distributor or marijuana cultivator reporting on the accrual basis shall be allowed a tax credit for sales previously paid by the distributor or marijuana cultivator on any sale made on credit to the extent they declare such debt to be uncollectible and a bad debt for federal income tax purposes. Such bad debt must be claimed on a timely filed sales tax return within two years from the date of sale in which the bad debt arose. (Ord. 18-03-489 § 5; Ord. 17-09-476 § 8; Ord. 17-07-464 § 4)