Alaska Statutes: AS 43.77.045. Fisheries Resource Landing Tax Education Credit.

Alaska Statutes. Title 43. Revenue and Taxation Chapter 77. Fishery Resource Landing Tax Section 45. Fisheries Resource Landing Tax Education Credit.

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AS 43.77.045. Fisheries Resource Landing Tax Education Credit.

(a) In addition to the credit allowed under AS 43.77.040 , 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 person engaged in a floating fisheries business 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) Each public college and university shall include in its annual operating budget request contributions received and how the contributions were used.
(c) 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 43.55.019 , AS 43.56.018, AS 43.65.018 , or AS 43.75.018 , exceed $150,000.

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