15 AAC 52.030. Effect of extensions, renewals, or new or supplemental contracts

In determining whether a lease or rental exceeds a period of 90 consecutive days, for purposes of imposing the tax in AS 43.52.010 and 43.52.030,

(1) unless the lease or rental contract contains a written term exceeding 90 consecutive days, the lease or rental is subject to the tax;

(2) the extension or renewal of a lease or rental, or a new or supplemental contract, may not be combined with previous contracts; and

(3) a lease or rental contract that contains a term exceeding 90 consecutive days is subject to the tax if that lease or rental contract is closed or completed on or before the 90th day.

History: Eff. 1/8/2004, Register 169

Authority: AS 43.05.080

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