Alaska Administrative Code — Title 15 (Revenue)
15 AAC 20.410
Corporations engaged in oil or gas production or pipeline
transportation.
# (a)
A taxpayer doing business in this state, the unitary business of which derives gross income from a production interest in one or more leases or properties in commercial production that are within this state or the transportation of oil or gas or both by means of a regulated pipeline or pipeline system of which part or all is within this state, is subject to AS 43.20.144.
# (b)
A taxpayer subject to AS 43.20.144 shall apportion its business income in accordance with 15 AAC 20.410 - 15 AAC 20.520 even if that taxpayer does business only in this state and its apportionment factors equal one.
# (c)
The right under 43 U.S.C. 1606(i) and 43 U.S.C. 1606(j) (sections 7(i) and 7(j) of the Alaska Native Claims Settlement Act) to share in revenue from oil or gas production from a regional Native corporation's land is not a production interest in that property and a corporation deriving income from oil and gas production solely by virtue of 43 U.S.C. 1606(i) and 43 U.S.C.
1606(j) is not made subject to provisions of AS 42.20.144 as a result of that income. However, income from 43 U.S.C. 1606(i) and 43 U.S.C. 1606(j) is subject to tax under applicable provisions of AS 43.19 and AS 43.20.
(Eff. 4/14/82, Register 82; am 3/6/98, Register 145)
Statutory Authority:
Authority:
AS 43.05.080 Art. IV, § 18, AS 43.20.040
AS 43.19.010 Ak Const. AS 43.20.144
Editor's note:
In 2012 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 43.20.072 as AS 43.20.144.
As of Register 204 (January 2013), the regulations attorney made conforming technical revisions under AS 44.62.125(b)(6), to 15 AAC 20.410, so that cross-references to former AS 43.20.072 now refer to the renumbered statute, AS 43.20.144. In addition, the regulations attorney made a conforming technical revision to the authority citation that follows 15 AAC 20.410, so that the citation to former AS 43.20.072 now refers to the renumbered statute, AS 43.20.144.
Amendment history
Eff. 4/14/82, Register 82; am 3/6/98, Register 145
Source: official source document (full AAC Title 15 PDF)
In this chapter (40 sections)
- 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
- 20.500 · Sales, property and extraction factors
- 20.510 · Records
- 20.520 · Relief
- 20.530 · Gas exploration and development tax credit
- 20.540 · Calculation of tax for taxpayers subject to AS 43.20.144 and…
- 20.550 · 20.550
- 20.560 · General rule
- 20.570 · Expenses; amortization and depreciation