15 AAC 19.1290. Definitions for 15 AAC 19.1200

15 AAC 19.1290. Definitions for 15 AAC 19.1200 - 15 AAC 19.1290

In 15 AAC 19.1200 - 15 AAC 19.1290

(1) "terminal" means any location where goods transported are loaded on or unloaded from interstate mobile transportation equipment;

(2) "days spent in terminals" refers to hours spent in terminals by mobile transportation equipment, and is computed by dividing the total number of hours by 24; time spent in terminals does not include periods when the interstate mobile transportation equipment is (A) not being loaded or unloaded; (B) not in service; or (C) idle due to strikes, repairs and maintenance, downshifts, or seasonal reduction of service; for purposes of computing "days spent in terminals," it is presumed that equal time is spent loading and unloading unless the taxpayer provides acceptable evidence to the department which rebuts that presumption;

(3) "terminal days ratio" is the number of days spent in Alaska terminals divided by the total number of days spent in terminals everywhere;

(4) property valuations: owned transportation equipment must be valued at its average original cost, and rented transportation equipment must be valued at eight times the net annual rental rate in accordance with AS 43.19.010 , Article IV.11, and 15 AAC 19.181 and 15 AAC 19.191;

(5) the "value" of owned real and tangible personal property means its original cost (see AS 43.19.010 , Article IV.11, and 15 AAC 19.181) ;

(6) "original cost" means the federal tax base of the property plus the value of capital improvements to such property (see 15 AAC 19.181)

(7) "average value" of property means the amount determined by averaging the values at the beginning and end of the income year, but the commissioner will, in his discretion, require the averaging of monthly values during the income year if that averaging is necessary to reflect properly the average value of the land transportation company's property (see AS 43.19.010 , Article IV.12, and 15 AAC 19.201) ;

(8) the "value" of rented real and tangible personal property means the product of eight times the net annual rental rate (see AS 43.19.010 , Article IV.11, and 15 AAC 19.191) ;

(9) "net annual rental rate" means the annual rental rate paid by the taxpayer less an annual rental rate received by the taxpayer from subrentals;

(10) "property used during the income year" includes property which is available for use in the taxpayer's trade or business during the income year;

(11) "interstate mobile transportation equipment" means any automobile, truck, or tractor trailer engaged in interstate commerce over an Alaska surface highway system or any railroad equipment engaged in interstate commerce over or on an Alaska rail line.

History: Eff. 3/31/82, Register 81

Authority: AS 43.05.080

AS 43.19.010

AS 43.20.071 (b)

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