15 AAC 20.410. Corporations engaged in oil or gas production or pipeline transportation

(a) A taxpayer doing business in this state, the unitary business of which derives gross income from a production interest in one or more leases or properties in commercial production that are within this state or the transportation of oil or gas or both by means of a regulated pipeline or pipeline system of which part or all is within this state, is subject to AS 43.20.072 .

(b) A taxpayer subject to AS 43.20.072 shall apportion its business income in accordance with 15 AAC 20.410 - 15 AAC 20.520 even if that taxpayer does business only in this state and its apportionment factors equal one.

(c) The right under 43 U.S.C. 1606(i) and 43 U.S.C. 1606(j) (sections 7(i) and 7(j) of the Alaska Native Claims Settlement Act) to share in revenue from oil or gas production from a regional Native corporation's land is not a production interest in that property and a corporation deriving income from oil and gas production solely by virtue of 43 U.S.C. 1606(i) and 43 U.S.C. 1606(j) is not made subject to provisions of AS 43.20.072 as a result of that income. However, income from 43 U.S.C. 1606(i) and 43 U.S.C. 1606(j) is subject to tax under applicable provisions of AS 43.19 and AS 43.20.

History: Eff. 4/14/82, Register 82; am 3/6/98, Register 145

Authority: AS 43.05.080

AS 43.19.010 ,

Art. IV, бї 18

AS 43.20.040

AS 43.20.072

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.