Dama Financial announces its CashToTax service offering to cannabis businesses in Sacramento, California. The offering was rolled out in February in conjunction with the City of Sacramento Finance Department and the Office of Cannabis Management to provide cannabis businesses with a safe and convenient way to electronically pay taxes and licensing fees.
While shelter-in-place is still in effect due to COVID-19, cannabis businesses are having to wait in line outside of banks to make large cash deposits, thereby increasing risk to both the public and to the individual.
“Cash is inconvenient, expensive, unsafe, and especially high risk for those handling cash during COVID-19. With CashToTax, the City of Sacramento is prioritizing the safety of the cannabis businesses and its citizens, as well as providing cannabis related businesses a new and efficient method to pay their taxes and permit fees,” said Eric Kaufman, Dama Financial Chief Revenue Officer.
A licensed cannabis business with a CashToTax account can arrange for cash to be picked up by armored courier and deposited into a dedicated account for online tax and fee payments, accessible the next business day. The City of Sacramento will cover the cost of one armored courier cash pick up per month per permit holder. To learn more or apply, visit cashtotax.com.
