15 AAC 21.010. Persons subject to this chapter

(a) A corporation doing business in the state and deriving income from one or more of the following sources is subject to the provisions of this chapter, even if that income is more than offset during a year by expenses associated with it:

(1) a production interest in one or more leases or properties in commercial production that are within the state; or

(2) repealed 5/21/81;

(3) the transportation of oil or gas or both by means of a pipeline or pipeline system of which part or all is within the state.

(b) The right under sec. 7(i) 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 therefore a corporation deriving income from oil and gas production solely by virtue of secs. 7(i) and 7(j) of the Alaska Native Claims Settlement Act is not subject to the provisions of this chapter.

History: Eff. 2/22/79, Register 69; am 5/21/81, Register 78; am 3/26/82, Register 81

Authority: AS 43.05.010

Art. IV, бї 18

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