Minimum tax for oil and gas produced after June 30, 2007

# (a)

For purposes of AS 43.55.011(e), a producer's minimum tax for a calendar year determined under AS 43.55.011(f) on

# (1)

oil and gas produced after June 30, 2007 and before January 1, 2022, from leases or properties in the state north of 68 degrees North latitude is the amount calculated by multiplying the applicable percentage under AS 43.55.011(f)(1) by the gross value at the point of production of all oil and gas produced by the producer during the calendar year from leases or properties in the state north of 68 degrees North latitude, excluding

(A) oil and gas the ownership or right to which is exempt from taxation;

(B) oil and gas for which tax is calculated under AS 43.55.011(i); and

(C) gas subject to AS 43.55.011(o);

# (2)

oil produced after December 31, 2021 from leases or properties in the state north of
68 degrees North latitude is the amount calculated by multiplying the applicable percentage under AS 43.55.011(f)(2) by the gross value at the point of production of all oil produced by the producer during the calendar year from leases or properties in the state north of 68 degrees North latitude, excluding

(A) oil the ownership or right to which is exempt from taxation;

(B) oil for which the tax is calculated under AS 43.55.011(i).

# (3)

gas subject to AS 43.55.011(o).

# (b)

For purposes of AS 43.55.011(f), the average price per barrel for ANS for sale on the United States West Coast during a calendar year is equal to the simple average of the average spot prices for ANS at the United States West Coast during all months of the calendar year as calculated under 15 AAC 55.171(m).

# (c)

This section applies to oil and gas produced after June 30, 2007.
(Eff. 10/21/2009, Register 192; am 1/1/2022, Register 240)
Statutory Authority:
Authority:
AS 43.05.080 AS 43.55.011 AS 43.55.110