Alaska Administrative Code — Title 15 (Revenue)
15 AAC 20.345
Water's edge returns
# (a)
A water's edge return filed under AS 43.20.145 must separately identify the income and apportionment factors of each corporation included in the return. The corporations included in the return comprise the water's edge combined group.
# (b)
The income and apportionment factors of a corporation not included in the water's edge combined report must be excluded from the return filed under AS 43.20.145.
# (c)
A water's edge combined report must include each corporation and each tax haven corporation that is part of the taxpayer's affiliated group and is part of the taxpayer's unitary business.
# (d)
A taxpayer claiming that an affiliated corporation meets the 80 percent foreign business requirements of Internal Revenue Code section 861(c) (26 U.S.C. 861(c)) must provide proof of such treatment in the federal return.
(Eff. 7/9/93, Register 127; am 3/6/98, Register 145)
Statutory Authority:
Authority:
AS 43.05.080 AS 43.20.145
Editor's note:
In 2012 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 43.20.073 as AS 43.20.145.
As of Register 204 (January 2013), the regulations attorney made conforming technical revisions under AS 44.62.125(b)(6), to 15 AAC 20.345, so that cross-references to former AS 43.20.073 now refer to the renumbered statute, AS 43.20.145. In addition, the regulations attorney made a conforming technical revision to the authority citation that follows 15 AAC 20.345, so that the citation to former AS 43.20.073 now refers to the renumbered statute, AS 43.20.145.
Amendment history
Eff. 7/9/93, Register 127; am 3/6/98, Register 145
Source: official source document (full AAC Title 15 PDF)
In this chapter (40 sections)
- 20.080 · Deleted
- 20.100 · Returns
- 20.110 · Investment tax credit
- 20.120 · Alternative energy expenditure credit; eligibility
- 20.122 · Alternative energy system substantiation
- 20.124 · Energy conservation improvement substantiation
- 20.130 · Rates of tax
- 20.135 · Alternative minimum tax and credit for prior year minimum tax
- 20.140 · Determination of net capital gain or loss
- 20.145 · Credits adopted by reference
- 20.150 · Requirement to file returns electronically
- 20.155 · Electronic filing waivers
- 20.200 · Definitions
- 20.260 · Film production tax credit
- 20.300 · Combination and apportionment
- 20.310 · Unitary business
- 20.320 · Attribution of income
- 20.330 · Water's edge combined reporting method
- 20.335 · Affiliated group
- 20.340 · Worldwide combined reporting
- 20.345 · Water's edge returns
- 20.350 · Intercompany transactions
- 20.355 · Adjustments to intercompany transactions
- 20.360 · Records of intercompany transactions
- 20.375 · Income for the water's edge combined group
- 20.380 · Factors assignable to locations within the United States
- 20.385 · Treatment of foreign dividends and royalties
- 20.390 · Domestic disclosure spreadsheet
- 20.410 · Corporations engaged in oil or gas production or pipeline
- 20.420 · Reporting requirements
- 20.421 · Apportionment of petroleum business income of a taxpayer…
- 20.422 · Transition rule for taxpayers subject to 43.20.144 for…
- 20.430 · Taxable income
- 20.440 · Section 72 business income
- 20.445 · Intangible drilling and development costs
- 20.450 · Federal taxable income
- 20.460 · Attribution of income
- 20.470 · Allocation of general overhead and administrative expense
- 20.480 · Depreciation expense for oil and gas taxpayers
- 20.490 · Apportionment rules for oil and gas taxpayers