Alaska Administrative Code — Title 15 (Revenue)
15 AAC 20.445
Intangible drilling and development costs
A taxpayer subject to AS 43.20.144 shall capitalize, and depreciate under 15 AAC 20.480, intangible drilling and development costs that are not subject to capitalization and depletion in the determination of federal taxable income as a result of an election under Internal Revenue Code section 263(c) (26 U.S.C. 263(c)), including intangible drilling and development costs subject to capitalization and amortization under Internal Revenue Code sections 59(e), 291(b), and 312(n) (26 U.S.C. 59(e), 291(b), and 312(n)), but not Internal Revenue Code section 263(i) (26 U.S.C. 263(i)). A taxpayer may elect to capitalize, and depreciate under 15 AAC 20.480, intangible drilling costs capitalized under Internal Revenue Code section 263(i) (26 U.S.C.
263(i)) and may make a separate election for each group of combined corporations set out in 15 AAC 20.480(d).
(Eff. 3/6/98, Register 145)
Statutory Authority:
Authority:
AS 43.05.080 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 a conforming technical revision under AS 44.62. 125(b)(6), to 15 AAC 20.445, so that the cross-reference to former AS 43.20.072 now refers 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 20.445, so that the citation to former AS 43.20.072 now refers to the renumbered statute, AS 43.20.144.
Amendment history
Eff. 3/6/98, Register 145
Source: official source document (full AAC Title 15 PDF)
In this chapter (40 sections)
- 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
- 20.580 · Net operating losses under AS 43.20 and net losses under AS…
- 20.590 · Short-year return rule
- 20.600 · Financial organization income
- 20.610 · Apportionment factors for financial organizations
- 20.620 · Exempt income and related expenses
- 20.680 · Applicability