- Alaska Statutes.
- Title 43. Revenue and Taxation
- Chapter 55. Oil and Gas Production Tax and Oil Surcharge
- Section 19. Oil or Gas Producer Education Credit.
previous: Section 18
. Credit Against Tax. [Repealed, Sec. 18 Ch 116 SLA 1981].
next: Section 20
. Payment of Tax.
AS 43.55.019. Oil or Gas Producer Education Credit.
- (a) For cash contributions accepted for direct instruction, research, and educational support purposes, including library
and museum acquisitions, and contributions to endowment, by an Alaska university foundation or by a nonprofit, public
or private, Alaska two-year or four-year college accredited by a regional accreditation association, a producer of oil
or gas is allowed as a credit against the tax due under this chapter
- (1) 50 percent of contributions of not more than $100,000; and
- (2) 100 percent of the next $100,000 of contributions.
- (b) [Repealed, Sec. 12 ch 71 SLA 1991].
- (c) Each public college and university shall include in its annual operating budget request contributions received and how
the contributions were used.
- (d) A contribution claimed as a credit under this section may not
- (1) be claimed as a credit under another provision of this title; and
- (2) when combined with credits taken during the taxpayer's tax year under AS 21.89.070
, 21.89.075, AS 43.20.014
, AS 43.56.018
, AS 43.65.018, AS 43.75.018
, or AS 43.77.045
, exceed $150,000.
- (e) The department may, by regulation, establish procedures by which a taxpayer may allocate a pro rata share of a credit
claimed under this section against monthly tax payments made during the tax year.
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