Alaska Administrative Code — Title 15 (Revenue)
15 AAC 77.065
Accounting for revenue sharing
# (a)
The annual balance in the separate account in the general fund that is available for revenue sharing under AS 43.77 is reduced by all tax credits claimed on returns as a reduction of the tax liability. The effect of this reduction for the tax credits is to reduce dollar-for-dollar the amount that otherwise would have been paid to municipalities.
# (b)
The department will attempt to specifically allocate the reduction in the amount of revenue sharing as a result of the tax credits to those municipalities in which the fishery resources harvested under the provisions of a community development quota were landed. In the event that information is not available for that purpose, the department will apportion the reduction to all areas in the state in which fishery resources were landed.
(Eff. 4/20/94, Register 130)
Statutory Authority:
Authority:
AS 43.77.050 AS 43.77.060 AS 43.77.070
Amendment history
Eff. 4/20/94, Register 130
Source: official source document (full AAC Title 15 PDF)
In this chapter (16 sections)
- 77.005 · Findings, purpose, and intent
- 77.010 · Return, payment, and required information
- 77.015 · Automatic extension of time to file return
- 77.020 · Request for extension of time to file return
- 77.025 · Requirement to make estimated tax payments
- 77.030 · Liability for tax
- 77.035 · Credit for other taxes paid
- 77.040 · Value and notice of value
- 77.045 · Weights and recovery rates
- 77.050 · Credit for community development quota contributions
- 77.055 · Requirements for nonprofit corporations
- 77.060 · Claim and revocation of credits
- 77.065 · Accounting for revenue sharing
- 77.070 · Taxable nexus
- 77.090 · Penalties: reasonable cause
- 77.990 · Definitions