All about business December 2018 Tax News

Cannabis business resources

We recognize that cannabis businesses face many unique challenges including the need to make cash payments.  Generally, we do not accept cash payments for taxes. However, if you must pay in cash to avoid undue hardship, you can apply for an exemption. We provide an instructional video about how to apply for a cash payment exemption. Watch our short Opens in a new window video to learn more about our no cash policy exemption request process. Once approved to make a cash payment, you must include a Currency Deposit form with your cash payment. We offer a number of other useful online self-service options:

• Access My FTB Account to view payments, balances due, and wage and withholding information. Taxpayers can also change their mailing address.
• Web Pay allows taxpayers to authorize a payment from their bank account on a specific date to satisfy their return balance due or extension payment. New this year is the ability to save your bank account number for future use, to view scheduled Web Pay requests, and to cancel a payment.
• Monthly installment payment plans are available to people who cannot pay what they owe. Generally taxpayers qualify for a payment plan when they owe less than $25,000 and can pay the tax within five years.

Additional e-file services are available, for questions about cannabis income taxes, email FTB Cannabis.