Alaska Administrative Code — Title 15 (Revenue)

15 AAC 55.440

Tax limitations for Cook Inlet and for gas used in the state

Official textakleg.govlast amended Mar 01, 2017

# (a)

For purposes of AS 43.55.011(j)(2),

# (1)

the average rate of tax that was imposed under AS 43.55 on taxable gas produced from all leases or properties in the Cook Inlet sedimentary basin for the 12-month period ending on March 31, 2006, was 4.947 percent; and

# (2)

the average prevailing value for gas delivered in the Cook Inlet area for the 12-month period ending March 31, 2006, as determined by the department under AS 43.55.020(f), was $3.585 per Mcf.

# (b)

For purposes of former AS 43.55.011(k)(2) as that provision applied to oil produced before January 1, 2017, the average rate of tax that was imposed under AS 43.55 on taxable oil produced from all leases or properties in the Cook Inlet sedimentary basin for the 12-month period ending on March 31, 2006, was zero percent.

# (c)

Gas produced after March 31, 2006, from a lease or property in the Cook Inlet sedimentary basin that first commenced commercial production of gas before April 1, 2006, but had no production of taxable gas during the 12-month period ending on March 31, 2006, is subject to the provisions of AS 43.55.011(j)(2). Oil produced after March 31, 2006, from a lease or property in the Cook Inlet sedimentary basin that first commenced commercial production of oil before April 1, 2006, but had no production of taxable oil during the 12-month period ending on March 31, 2006, is subject to the provisions of AS 43.55.011(k)(2).

# (d)

For purposes of AS 43.55.011(o), the amount of tax for each Mcf determined under AS 43.55.011(j)(2) is $.177.
(Eff. 5/3/2007, Register 182; am 10/21/2009, Register 192; am 3/1/2017, Register 221) Statutory Authority:
Authority:
AS 43.05.080 AS 43.55.020 AS 43.55.160
AS 43.55.011 AS 43.55.110

Amendment history

Eff. 5/3/2007, Register 182; am 10/21/2009, Register 192; am 3/1/2017, Register 221

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

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