Alaska Administrative Code

(a) An application for an alternative oil and gas exploration tax credit under AS 43.55.025 for a particular exploration activity may, on a form provided by the department, be filed by (1) a single explorer that (A) holds the entire interest in the particular well or seismic or o…

(a) For purposes of the alternative oil and gas exploration tax credit under (1)AS 43.55.025(a)(1) - (4), as the provisions of that section read on June 30, 2008, qualified exploration expenditures are the reasonably required direct costs for work performed on a particular explor…

(a) A person may transfer an interest in a transferable tax credit certificate issued under AS 43.55.023(d) or a production tax credit certificate issued under AS 43.55.025 by notifying the department, on a transfer form provided by the department. A transfer form must include th…

(a) To apply a production tax credit certificate issued under AS 43.55.025 against a production tax liability under AS 43.55.011(e) or, for oil and gas produced before July 1, 2007, AS 43.55.011(f), a producer must submit to the department, with the statement described in AS 43.5…

(a) For purposes of applying a percentage limitation under AS 43.55.023(e) or on the use of tax credits against a tax levied by AS 43.55.011(e), a producer shall, subject to 15 AAC 55.335(g), (1) first, apply all tax credits allowable against the tax levied by AS 43.55.011(e) oth…

Notes 15 AAC 55.380 Eff. 5/3/2007, Register 182; am 10/21/2009, Register 192 ; repealed 9/20/2020,Register 235, October 2020

(a) For purposes of the (1) calculation required under AS 43.55.020fa)(5) or (7), the amount of the tax credits that are allowed by law to be applied against the tax levied by AS 43.55.011(e) for a calendar year does not include any amount of a tax credit that the producer transf…

(a) The tax levied by AS 43.55.011(e) is levied for a calendar year for all taxable oil and gas produced during all months of the calendar year. (b) Repealed 9/20/2020. (c)AS 43.55.011(e)(1) applies to oil and gas produced before January 1, 2014. AS 43.55.011(e)(2) applies to oil…

Notes 15 AAC 55.420 Eff. 5/3/2007, Register 182; am 10/21/2009, Register 192 ; repealed 9/20/2020,Register 235, October 2020

(a) For purposes of AS 43.55.011(e), a producer's minimum tax for a calendar year determined under AS 43.55.011(f) on (1) oil and gas produced after June 30, 2007 and before January 1, 2022, from leases or properties in the state north of 68 degrees North latitude is the amount c…

Notes 15 AAC 55.430 Eff. 5/3/2007, Register 182; am 10/21/2009, Register 192 ; repealed 9/20/2020,Register 235, October 2020

Notes 15 AAC 55.431 Eff. 10/21/2009, Register 192; am 12/25/2013, Register 208, January 2014 ; repealed 12/23/2021, Register 239, January 2022

(a) For purposes of AS 43.55.011(j)(2), (1) the average rate of tax that was imposed under AS 43.55 on taxable gas produced from all leases or properties in the Cook Inlet sedimentary basin for the 12-month period ending on March 31, 2006, was 4.947 percent; and (2) the average p…

(a) The tax levied by AS 43.55.011(i) for oil is calculated separately for oil produced from each lease or property and may not be less than zero. (b) The tax levied by AS 43.55.011(i) for gas is calculated separately for gas produced from each lease or property and may not be le…

Notes 15 AAC 55.510 Eff. 5/3/2007, Register 182; am 10/21/2009, Register 192 ; repealed 9/20/2020,Register 235, October 2020

(a) For purposes of the calculations described in AS 43.55.020(a)(1)(A)(ii) and (5)(A)(ii) for oil and gas produced after June 30, 2007, the gross value at the point of production of the oil and gas produced and the deductible adjusted lease expenditures are calculated only for o…

(a) For purposes of the calculations described in AS 43.55.020(a)(7)(A)(ii) for oil produced after December 31, 2021,(1) the gross value at the point of production of the oil produced is calculated only for oil taxable under AS 43.55.011(e) and subject to AS 43.55.01 l(f)(2); (2)…

(a) For each month for which a producer is required to make an installment payment of estimated tax under AS 43.55.02Qfa)(3), (5), or (7), a surcharge under AS 43.55.201, or a surcharge under AS 43.55.300, the producer or the person paying on behalf of the producer shall provide …

(a) For applications to purchase tax credit certificates received by the department before January 1, 2017 the department Will first determine if there is enough money in the oil and gas tax credit fund to purchase the outstanding certificates. If the total amount of applications…

(a) Except as otherwise provided in this section, the following provisions apply retroactively to April 1, 2006, to oil and gas produced after March 31, 2006: (1)15 AAC 55.192; (2) Repealed 9/20/2020; (3)15 AAC 55.215, except changes to 15 AAC 55.215(d) and (e), effective Decembe…

Notes 15 AAC 55.805 Eff. 10/21/2009, Register 192 ; repealed 9/20/2020,Register 235, October 2020

(a) Except as provided in (c) of this section, the heating value of gas is determined by (1) calculating the total or gross BTUs produced(A) by the combustion, at constant pressure, of the amount of the gas that would occupy a volume of one cubic foot of space at a temperature of…

Except as otherwise provided under 15 AAC 55.206(d) - (f), and for purposes of AS 43.55 and this chapter, each of the following is a single lease or property: (1) a participating area established in a unit under regulations of the Department of Natural Resources adopted under AS …

Notes 15 AAC 55.820 Eff. 5/3/2007, Register 182; repealed 10/21/2009, Register 192 The subject matter of 15 AAC 55.820 was formerly located at 15 AAC 55.200. The history note for 15 AAC 55.820 does not reflect the history of the earlier section. For subject matter addressed in fo…

(a) Interest on an underpayment of tax, including an underpayment of an installment payment of estimated tax, is calculated for the time beginning with and including the day after the tax is due, and to and including the day the unpaid amount due is paid. (b) Interest with respec…

(a) The department will not assess a civil penalty under AS 43.05.220(a) or (b) for an underpayment of an installment payment of estimated tax required to be paid before February 1, 2011, under AS 43.55.020(a)(1) or (4), as the provisions of those paragraphs read on June 30, 2007…

(a) For purposes of AS 43.55.024(c) and 43.55.028(e)(4), a producer's average daily production of oil and gas during a calendar year is calculated by dividing the total amount of oil and gas, in BTU equivalent barrels, produced by the producer from all leases or properties in the…

Unless otherwise specified, units must be rounded as follows: (1) dollar amounts to the nearest dollar; (2) barrel amounts to the nearest barrel; (3) Mcf to the nearest Mcf; (4) dollar per barrel amounts or dollars per Mcf amounts to the nearest 1/10 of a cent. Notes 15 AAC 55.86…

(a) Unless the context otherwise requires, as used in this chapter (1) "department" means the Department of Revenue; (2) "FASB" means the Financial Accounting Standards Board; (3) "FASB-13" means FASB's Statement of Financial Accounting Standards No. 13, "Accounting for Leases" (…

Notes 15 AAC 55.9660 Repealed 7/1/77.

Notes 15 AAC 55.9670 Repealed 7/1/77.

Notes 15 AAC 55.9690 Repealed 3/7/74.

Notes 15 AAC 55.9694 Repealed 7/1/77.

Notes 15 AAC 55.9699 Repealed 1/6/80.

Notes 15 AAC 55.9700 Repealed 1/6/80.

(a) Unless the deadline is extended under (c) of this section, a person owning property taxable under AS 43.56 shall file an accurate and complete property statement no later than January 15 of the tax year. The property statement must be in a form prescribed by the department an…

(a) The department will send a notice of assessment to the owner of taxable property no later than March 1 of the tax year. A notice of assessment will state(1) the name and address of the owner of the taxable property; (2) a brief description of the property; and (3) the assesse…

Notes 15 AAC 56.015 Eff. 5/10/86, Register 98; am 1/1/2003, Register 164; repealed 12/29/2016, Register 220, January 2017

(a) An owner of taxable property or a municipality receiving a notice of assessment may object to the assessed value of the property by filing a written appeal with the department no later than 20 days after the effective date of the notice of assessment. The appeal must be signe…

(a) An owner of the taxable property or a municipality that was a party in an appeal under 15 AAC 56.020 and was adversely affected by the informal conference decision issued under 15 AAC 56.020(c) may appeal that decision to the board by filing an appeal with the board in writin…

(a) Any three members of the board constitute a quorum for the transaction of all business and duties of the board. A quorum of the board members must be present in order to hear an appeal. The board may grant or deny an appeal, in whole or in part, by the majority vote of the me…

No later than June 1 of each year the department will certify the assessment roll for the tax year. By certifying the assessment roll, the department verifies that it has prepared the assessment roll in the manner required by law and, based on the best information available to th…

(a) Subject to the limitations period provided in AS 43.05.260 and regardless of whether the property was previously assessed, a previous assessment of the property was certified under AS 43.56.135, or an investigation was previously conducted, the department may at any time(1) i…

(a) Subject to the limitations period provided in AS 43.05.260, the department may issue a supplementary or amended assessment roll to assess the amount of tax imposed under AS 43.56.010 at any time. (b) A supplementary or amended assessment may result in increases or decreases i…

(a) A property owner or municipality that receives a notice of supplementary or amended assessment may object to the assessed value of the property by filing a written appeal with the department no later than 20 days after the effective date of the notice of supplementary or amen…

(a) In accordance with (b) and (c) of this section, a credit against, or refund of, the tax levied by the state under AS 43.56.010(a) will be allowed in an amount equal to the total current property taxes collected by all municipalities as authorized by AS 29.45.080. The credit o…

Notes 15 AAC 56.060 Repealed 9/15/82.