Alaska Administrative Code — Title 15 (Revenue)

15 AAC 55.375

Order of applying tax credits

Official textakleg.govlast amended Dec 06, 201819 subsections

# (a)

For purposes of applying a percentage limitation under AS 43.55.023(e) 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) other than credits subject to a percentage limitation under AS 43.55.023(e);

# (2)

repealed 3/1/2017;

# (3)

second, apply a credit subject to a percentage limitation under AS 43.55.023(e) against not more than 20 percent of the balance of the remaining tax liability under AS 43.55.011(e), if any.

# (b)

Repealed 3/1/2017.

# (c)

Except as provided under (a) of this section, and subject to 15 AAC 55.335(g), a producer may apply tax credits in any order, if the producer submits with the statement required under AS 43.55.030(a) a separate schedule setting out the order in which the tax credits are applied. In the absence of that schedule, tax credits must be applied in the following order:

# (1)

first, any credit under AS 43.55.024(a);

# (2)

second, any credit under AS 43.55.024(c);

# (3)

third, for a calendar year after 2013, any credit under AS 43.55.024(i);

# (4)

fourth, any credit under AS 43.55.019;

# (5)

fifth, for a calendar year after 2013, any credit under AS 43.55.024(j);

# (6)

sixth, any credit under AS 43.55.025;

# (7)

repealed 3/1/2017;

# (8)

seventh, any credit under AS 43.55.023(a);

# (9)

eighth, any credit under AS 43.55.023( l);

# (10)

ninth, any credit under AS 43.55.023(b), as the provisions of that subsection read before January 1, 2018;

# (11)

repealed 3/1/2017;

# (12)

repealed 3/1/2017;

# (13)

tenth, any credit under AS 43.55.023(e).
(Eff. 5/3/2007, Register 182; am 10/21/2009, Register 192; am 9/14/2012, Register 203; am
12/25/2013, Register 208; am 3/1/2017, Register 221; am 12/6/2018, Register 228)
Statutory Authority:
Authority:
AS 43.05.080 AS 43.55.024 AS 43.55.110
AS 43.55.023 AS 43.55.025

Amendment history

Eff. 5/3/2007, Register 182; am 10/21/2009, Register 192; am 9/14/2012, Register 203; am 12/25/2013, Register 208; am 3/1/2017, Register 221; am 12/6/2018, Register 228

Source: official source document (full AAC Title 15 PDF)

In this chapter (40 sections)

Full table of contents →