Title 43, Revenue and Taxation

(a) Sections 26 U.S.C. 1 — 1399 and 6001 — 7872 (Internal Revenue Code), as amended, are adopted by reference as a part of this chapter. These portions of the Internal Revenue Code have full force and effect under this chapter unless excepted to or modified by other provisions of…

(a) If a corporation, or a partnership that has a corporation as a partner, is required to make a return under the provisions of the Internal Revenue Code, it shall file with the department, within 30 days after the federal return is required to be filed, a return setting out (1)…

(a) [Repealed, § 10 ch 1 SSSLA 1980.] (b) [Repealed, § 10 ch 1 SSSLA 1980.] (c) In computing the tax under this chapter, the taxpayer is not entitled to deduct any taxes based on or measured by net income. The taxpayer may deduct the tax levied and paid under AS 43.55. (d) [Repea…

(a) For purposes of calculating the income tax payable under this chapter, the taxpayer may not apply as a credit against tax liability the foreign tax credit allowed as to federal taxes under 26 U.S.C. 27 (Internal Revenue Code). (b) For purposes of calculating the income tax pa…

(a) In this chapter, income from sources in the state includes (1) income from real or tangible personal property located in the state; (2) income of whatever nature from a business, trade or profession having a business situs in the state and compensation for services rendered i…

(a) Subject to (c) of this section, for purposes of calculating eligible taxes the taxpayer may apply as a credit against eligible taxes the following percentage of the investment credit allowed as to federal taxes under 26 U.S.C. 38 (Internal Revenue Code) on only the first $250…

(a) A taxpayer may apply as a credit against the tax levied under this chapter (1) the exploration incentive credit authorized by AS 27.30; (2) an alternative tax credit for oil and gas exploration earned by the taxpayer under AS 43.55.025 for exploration expenditures incurred fo…

(a) A person that is an owner of a gas storage facility described in (b) of this section that commences commercial operation after December 31, 2010, and before January 1, 2016, may apply a refundable credit against a tax liability that may be imposed on the person under this cha…

(a) A person that is an owner of a liquefied natural gas storage facility described in (b) of this section that commences commercial operation before January 1, 2020, may apply a refundable credit against a tax liability that may be imposed on the person under this chapter or rec…

(a) A taxpayer that hires a veteran and employs the veteran in the state is entitled to a credit under this section against the tax due under this chapter. The taxpayer is entitled to the credit for each veteran whose employment qualifies under this section. (b) To qualify as a v…

(a) For a tax year beginning after December 31, 2013, a taxpayer may apply a credit against the tax due under this chapter for a qualified oil and gas service industry expenditure incurred in the state. The total amount of credit a taxpayer may receive in a tax year may not excee…

(a) A taxpayer that owns an in-state oil refinery whose primary function is the manufacturing and sale of refined petroleum products to third parties in arm's length transactions may apply a credit against the tax due under this chapter for a qualified infrastructure expenditure …

In determining the source of a nonresident partner's income, effect may not be given to a provision in the partnership agreement that (1) characterizes payments to the partner as being for services or for the use of capital; (2) allocates to the partner, as income or gain from so…

A taxpayer who has income from business activity that is taxable both inside and outside the state or income from other sources both inside and outside the state shall allocate and apportion net income as provided in AS 43.19 (Multistate Tax Compact), or as provided by this chapt…

(a) All business income of water transportation carriers shall be apportioned to this state in accordance with AS 43.19 (Multistate Tax Compact) as modified by the following: (1) the numerator of the property factor is the sum of the value for property in a fixed location, includ…

(a) All business income of a taxpayer engaged in the production of oil or gas from a lease or property in this state or engaged in the transportation of oil or gas by pipeline in this state shall be apportioned to this state in accordance with AS 43.19 (Multistate Tax Compact) as…

(a) A corporation that is a member of an affiliated group shall file a return using the water's edge combined reporting method. A return under this section must include the following corporations if the corporations are part of a unitary business with the filing corporation: (1) …

Notwithstanding sec. 2, art. IV, of AS 43.19 (Multistate Tax Compact), and unless otherwise provided under AS 43.20.143 — 43.20.145, a taxpayer that is a public utility shall allocate and apportion income in accordance with the remainder of art. IV of AS 43.19 (Multistate Tax Com…

The tax amounts collected from a highly digitized business under AS 43.20 shall be separately accounted for and may be appropriated to the Department of Education and Early Development. The Department of Education and Early Development shall use funds appropriated under this sect…

(a) The department shall administer this chapter. (b) [Repealed, § 45 ch 113 SLA 1980.] (c) The department shall prescribe and furnish all necessary forms, and adopt and publish all necessary regulations in plain and concise language conformable with this chapter for the assessme…

(a) As soon as practicable after a return is filed, the department may examine it and determine the correct amount of the tax. If an error is disclosed by the examination, the department shall so notify the taxpayer by first-class mail. The taxpayer may petition for redeterminati…

In a case where there is a refusal or neglect to pay a tax, including interest, penalty, additional amount, or addition to the tax, together with additional costs that accrue, the attorney general, at the request of the department may file an action in the superior court to enfor…

(a) The department may collect taxes, with interest, penalties, and other additional amounts permitted by law, by distraint and sale, in the manner provided in this section, of the property of a person liable to pay the taxes, interest, penalties, or other additional amounts, who…

In AS 43.20.250 — 43.20.270, (1) “property” means all property, real and personal, tangible and intangible, a right, title, or interest to property, and, without limitation, stocks, securities, bank accounts, and evidences of debt; (2) “taxes” includes deficiencies in respect to …

No tax may be levied and collected upon the net income of resident or nonresident individuals by a general law city or by a home rule city or any other political subdivision of the state.

(a) The provisions of the Internal Revenue Code as now in effect or hereafter amended mentioned in this chapter are incorporated in this chapter by reference and have effect as though fully set out in this chapter. (b) When portions of the Internal Revenue Code incorporated by re…

In this chapter, (1) “bank” means a financial institution including a national banking association; (2) “corporation” includes an association, joint-stock company, and an insurance company; (3) “fiscal year” means an accounting period of 12 months ending on the last day of a mont…

This chapter may be cited as the Alaska Net Income Tax Act.