Alaska Statutes — Title 43 (Revenue and Taxation)
AS 43.20.021
Internal Revenue Code adopted by reference
# (a)
Sections 26 U.S.C. 1 - 1399 and 6001 - 7872 (Internal Revenue Code), as amended, are adopted by reference as a part of this chapter. These portions of the Internal Revenue Code have full force and effect under this chapter unless excepted to or modified by other provisions of this chapter.
# (b)
For purposes of calculating the federal tax payable on personal holding companies provided for in the provisions of 26 U.S.C. 541 (Internal Revenue Code), the rate is 12.6 percent.
# (c)
For purposes of calculating the alternative tax on capital gains provided for in the provisions of 26 U.S.C. 1201 (Internal Revenue Code), the rate is 4.5 percent for corporations.
# (d)
Where a credit allowed under the Internal Revenue Code is also allowed in computing Alaska income tax, it is limited to 18 percent for corporations of the amount of credit determined for federal income tax purposes which is attributable to Alaska. This limitation does not apply to a special industrial incentive tax credit under AS 43.20.042.
# (e)
[Repealed, § 10 ch 1 SSSLA 1980.]
# (f)
For the purpose of calculating the alternative minimum tax on tax preferences provided for in 26 U.S.C. 55 - 59 (Internal Revenue Code), the tax is 18 percent for corporations of the applicable alternative minimum federal tax.
# (g)
For purposes of calculating the accumulated earnings tax as provided in 26 U.S.C. 531
(Internal Revenue Code), the rate is 4.95 percent of the first $100,000 of accumulated taxable income and 6.93 percent of accumulated taxable income in excess of $100,000.
# (h)
Nothing in this chapter or in AS 43.19 (Multistate Tax Compact) may be construed as an exception to or modification of 26 U.S.C. 883.
# (i)
The provision in (h) of this section does not apply to commercial passenger vessels as defined in AS 43.52.295.
# (j)
For purposes of calculating interest under the look-back method in 26 U.S.C. 460 (Internal Revenue Code), the rate of interest shall be as provided in that section.
Source: official source document (full Title 43 PDF)
In this chapter (40 sections)
- 43.20.010 · Tax on individuals, fiduciaries, and corporations
- 43.20.011 · Tax on corporations
- 43.20.012 · Limitation on application of chapter; credits
- 43.20.013 · Individual tax credits
- 43.20.014 · Income tax education credit. [See delayed repeal note.]
- 43.20.015 · Individual tax credit
- 43.20.016 · Sharing of corporate income tax revenue with municipalities
- 43.20.017 · Individual tax exemptions
- 43.20.018 · Alaska veterans' memorial endowment fund contribution credit
- 43.20.020 · Exemptions
- 43.20.021 · Internal Revenue Code adopted by reference
- 43.20.030 · Returns and payment of taxes
- 43.20.031 · Deduction of taxes; consolidated returns; accounting methods
- 43.20.033 · Taxable income of fiduciaries, nonresidents, and part-year…
- 43.20.036 · Federal tax deductions and credits
- 43.20.037 · Trade or business energy conservation credit
- 43.20.038 · Residential fuel and residential fuel conservation credits
- 43.20.040 · Income from sources in the state
- 43.20.042 · Special industrial incentive investment tax credits
- 43.20.043 · Gas exploration and development tax credit
- 43.20.044 · Exploration credits
- 43.20.045 · Proration of part-year resident and nonresident individual…
- 43.20.046 · Gas storage facility tax credit
- 43.20.047 · Liquefied natural gas storage facility tax credit
- 43.20.048 · Veteran employment tax credit
- 43.20.049 · Qualified oil and gas service industry expenditure credit
- 43.20.050 · Taxpayer liable
- 43.20.051 · 43.20.051
- 43.20.052 · Credit for the in-state manufacture of urea, ammonia, or…
- 43.20.053 · Qualified in-state oil refinery infrastructure expenditures…
- 43.20.060 · Direct allocation
- 43.20.061 · Credit for taxes paid another state
- 43.20.065 · 43.20.065
- 43.20.070 · Employees of interstate carriers
- 43.20.071 · 43.20.071
- 43.20.072 · 43.20.072
- 43.20.073 · 43.20.073
- 43.20.080 · Allocation of nonbusiness income; net rents and royalties;…
- 43.20.141 · Income from sources in the state of nonresident partners
- 43.20.142 · Allocation and apportionment