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Chapter 21. Oil and Gas Corporate Income Tax

Section 1 . Findings of fact

Section 3 . Determinations based on findings of fact

Section 5 . Requirement of alternative allocation and apportionment method

Section 10 . Persons subject to this chapter

Section 20 . Taxpayers having income from other activities

Section 30 . Consolidated business

Section 40 . Attribution of income

Section 50 . Net taxable income

Section 60 . Surtax exemption

Section 65 . Tax rates

Section 70 . Treatment of net losses realized under this chapter

Section 80 . (Reserved)

Section 100 . Taxable production income

Section 110 . Gross production revenue

Section 120 . Value at the point of production

Section 122 . Sales price

Section 124 . Prevailing value for oil

Section 125 . Prevailing value for gas

Section 128 . Choice of methods for determining reasonable cost of transportation

Section 130 . Calculation of reasonable costs of transportation

Section 140 . Extraordinary production revenue (or loss)

Section 150 . (Reserved)

Section 200 . Deductions from gross production revenue - In general

Section 210 . Deduction for royalty

Section 215 . Deduction for Native corporation revenue sharing

Section 220 . Deduction for production taxes

Section 230 . Deduction for ad valorem taxes

Section 235 . Deduction for crude oil windfall profit tax

Section 240 . Deduction for direct operating costs

Section 250 . Deduction for acquisition costs

Section 260 . Deduction for development costs

Section 270 . Deduction for exploration costs

Section 280 . Deduction for uncapitalized interest

Section 290 . Deduction for general overhead and administrative expense

Section 300 . Taxable oil pipeline income

Section 310 . Operating revenues (oil pipelines)

Section 320 . Extraordinary operating revenues and losses (oil pipelines)

Section 330 . (Reserved)

Section 350 . Operating expenses (oil pipeline)

Section 360 . (Reserved)

Section 400 . Taxable gas pipeline income

Section 410 . Operating revenues (gas pipelines)

Section 420 . Extraordinary operating revenues and losses (gas pipelines)

Section 430 . (Reserved)

Section 450 . Operating expenses (gas pipelines)

Section 460 . (Reserved)

Section 500 . Taxable apportioned income

Section 510 . Apportionable income

Section 520 . Three-factor formula for apportionment

Section 530 . Property factor

Section 540 . Payroll factor

Section 550 . Sales factor

Section 560 . (Reserved)

Section 600 . General rule

Section 610 . Notice of commencement of taxable activity

Section 620 . Partial years

Section 630 . Expenses and net operating losses under the old tax

Section 640 . Installments under the old tax

Section 650 . Net operating loss carryovers from AS 43.2

Section 660 . Net operating loss carrybacks from AS 43.2

Section 670 . (Reserved)

Section 700 . Returns and assessments

Section 710 . Payments; installments

Section 720 . Refunds

Section 730 . Computation of interest

Section 740 . Civil penalties

Section 750 . Relief

Section 800 . Application to the 1978 tax year

Section 810 . Statute of limitations

Section 820 . Fiscal-year taxpayers

Section 830 . (Reserved)

Section 900 . Definitions

Section 9760 . (Repealed)

Section 9770 . (Repealed)

Section 9780 . (Repealed)

Section 9790 . (Repealed)

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The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.

Last modified 7/05/2006