Title 15 . Revenue

Chapter 10 . (Repealed)

Section 10. Annual affidavit and tax liability security requirements

15 AAC 10.010. Annual affidavit and tax liability security requirements

(a) On or before June 2 of each year, every nonresident engaged in the act of severing or taking resources from or transacting or doing business in the state shall

(1) sign and file a statement of information on an affidavit form prescribed by the department; and

(2) comply with one of the tax liability security requirements of 15 AAC 10.020.

(b) The affidavit required by (a) of this section must

(1) state the information required by AS 43.10.160 (a)(1) - (5);

(2) state the total amount of actual taxes and license fees required to have been shown on returns required to have been filed during all prior years that are not years closed by the applicable period of limitation on assessment or collection of tax, exclusive of any penalties or interest; and

(3) be accompanied by a full explanation with respect to an estimate of current year taxes and license fees which is less than the total actual prior year taxes and license fees required to be shown on the affidavit.

(c) At any time during the year that a taxpayer has actual notice or knowledge of any fact which would lead a reasonable business person to believe that the taxpayer's previously filed estimate of taxes and license fees underestimates the amount of taxes and license fees for the current year, the taxpayer shall file a corrected affidavit and bring himself into compliance with the tax liability security requirements of 15 AAC 10.020. The corrected affidavit and additional tax liability security must be filed within 30 days after the date on which the taxpayer had actual notice or knowledge of such a fact.

Example: A taxpayer filed an affidavit and made a cash deposit of $3,000 for the current year on January 15. The taxpayer is a construction contractor who, at the time of filing his original affidavit, had two contracts in progress. On July 15, the taxpayer was notified that his bid on a third contract to be performed in Alaska during the current year was accepted. In performing the contract, the taxpayer knows he will be withholding Alaska income and school taxes on those employees hired to do the work. The taxpayer anticipates making a profit on the contract which will result in a higher Alaska net income tax than originally anticipated. The taxpayer will also derive gross receipts from the performance of the contract, which receipts will result in a higher business license tax than originally anticipated. On or before August 14, the taxpayer must file a corrected affidavit reflecting the higher estimated taxes and license fees and comply with the tax liability security requirements of 15 AAC 05.020.

History: Eff. 6/21/78, Register 66

Authority: AS 43.05.080

AS 43.10.160