Title 15 . Revenue

Chapter 21 . (Repealed)

Section 510. Apportionable income

15 AAC 21.510. Apportionable income

A taxpayer's apportionable income for a year equals

(1) the sum of

(A) for a member of the consolidated business of which the taxpayer is a part which is required to file under the United States Internal Revenue Code, that member's taxable income under Chapter 1 of Subtitle A of the Internal Revenue Code of 1954;

(B) for a member of the consolidated business of which the taxpayer is a part which is not required to file under the United States Internal Revenue Code, that member's book income reported to shareholders or its income as it would be determined under (1)(A) of this section; and

(C) any taxes based on or measured by net income that are deducted to determine income in (1)(A) and (1)(B) of this section;

(2) minus the sum of

(A) any dividends received from members of the consolidated business of which the taxpayer is a part that are taxable under the United States Internal Revenue Code and foreign intercompany dividends;

(B) any income included in (1)(A) and (1)(B) of this section attributable to the worldwide production and pipeline transportation of oil and gas; and

(C) any taxes based on or measured by net income that are deducted to determine the income included in (2)(B) of this section attributable to the worldwide production and pipeline transportation of oil and gas.

History: Eff. 2/22/79, Register 69; am 5/21/81, Register 78; am 3/26/82, Register 81

Authority: AS 43.05.080

AS 43.19.010 ,

Art. IV, § 18

AS 43.21.040

AS 43.21.090