Title 15 . Revenue

Chapter 10 . (Repealed)

Section 70. Return of cash deposit or reduction or cancellation of tax liability bond

15 AAC 10.070. Return of cash deposit or reduction or cancellation of tax liability bond

(a) If, at any time, the tax liability bond, the amount of cash on deposit, or other approved security exceeds the total required security for all of the years for which an affidavit is or was required and that are not years closed by the applicable period of limitation on assessment or collection of tax, the taxpayer may apply for and receive a return of the excess actual cash deposit or a reduction of the excess tax liability bond or of the excess other approved security.

(b) If, at any time, the taxpayer is able to comply with the tax security requirement in 15 AAC 10.020(b) , the taxpayer may apply for and receive a return of its actual cash deposit or a cancellation of its tax liability bond, or a cancellation of its other approved security.

(c) A taxpayer may apply for a return of an actual cash deposit or a reduction or cancellation of a tax liability bond if one of these securities is offered as a substitute in full value for the other.

(d) When the taxpayer has complied with the tax security requirement of 15 AAC 10.020 for the current year, the taxpayer may receive a return of that part of the actual cash deposit, or a reduction or cancellation of that part of a tax liability bond or other approved security already filed with the department which is equal to the part of the tax liability security requirements waived by the department under 15 AAC 10.035.

History: Eff. 6/21/78, Register 66; am 5/16/81, Register 78

Authority: AS 43.05.080

AS 43.10.160