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AS 43.20.012

Limitation on application of chapter; credits

Known as the Alaska Net Income Tax Act

The act spans §§ 43–43 (65 sections).

(a) The tax imposed by this chapter does not apply to (1) an individual;

(2) a fiduciary;

(3) the income received by a regional association qualified under AS 16.10.380 or nonprofit corporation holding a hatchery permit under AS 16.10.400 from the sale of salmon or salmon eggs under AS 16.10.450 or from a cost recovery fishery under AS 16.10.455; or

(4) the income received by a nonprofit corporation holding a permit under AS 16.12.010 from the sale of shellfish under AS 16.12.080 or from a cost recovery fishery under AS 16.12.090.

(b) An individual may file a return under this chapter in order to receive a tax credit under AS 43.20.013.

(c) [Repealed, § 5 ch 55 SLA 2023.] (d) [Repealed, § 5 ch 55 SLA 2023.]

Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.