- Alaska Statutes.
- Title 43. Revenue and Taxation
- Chapter 55. Oil and Gas Production Tax and Oil Surcharge
- Section 75. Limitation on Assessment and Amended Returns.
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AS 43.55.075. Limitation on Assessment and Amended Returns.
- (a) Except as provided in AS 43.05.260 (c), the amount of a tax imposed by this chapter must be assessed
within six years after the return was filed.
- (b) A decision of a regulatory agency, court, or other body with authority to resolve disputes that results in a
retroactive change to a lease expenditure, to an adjustment to a lease expenditure, to costs of transportation, to sale price, to
prevailing value, or to consideration of quality differentials relating to the commingling of oils has a corresponding effect, either an
increase or decrease, as applicable, on the production tax value of oil or gas or the amount or availability of a tax credit as
determined under this chapter. For purposes of this section, a change to a lease expenditure includes a change in the categorization of
a lease expenditure as a qualified capital expenditure or as not a qualified capital expenditure. The producer shall
- (1) within 60 days after the change, notify the department in writing; and
- (2) within 120 days after the change, file amended returns covering all periods affected by the change, unless
the department agrees otherwise or a stay is in place that affects the filing or payment, regardless of the pendency of appeals of the
- (c) If an alteration in or modification of a producer's federal income tax return or a recomputation of the
producer's federal income tax or determination of deficiency occurs that affects the amount of a tax imposed on the producer under this
chapter, the producer shall
- (1) within 60 days after the final determination of the alteration, modification, recomputation, or deficiency,
notify the department in writing; and
- (2) within 120 days after the final determination of the alteration, modification, recomputation, or deficiency,
file amended returns covering all affected periods.
- (d) In this section,
- (1) "qualified capital expenditure" has the meaning given in AS 43.55.023 ;
- (2) "return" includes a report, a statement, and an amended return, report, or statement.
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