Alaska Statutes: AS 43.20.014. Income Tax Education Credit.

Alaska Statutes. Title 43. Revenue and Taxation Chapter 20. Alaska Net Income Tax Act Section 14. Income Tax Education Credit.

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AS 43.20.014. Income Tax Education Credit.

(a) For cash contributions accepted for direct instruction, research, and educational support purposes, including library and museum acquisitions, and contributions to endowment, by an Alaska university foundation or by a nonprofit, public or private, Alaska two-year or four-year college accredited by a regional accreditation association, a taxpayer is allowed as a credit against the tax due under this chapter

(1) 50 percent of contributions of not more than $100,000; and

(2) 100 percent of the next $100,000 of contributions.
(b) [Repealed, Sec. 12 ch 71 SLA 1991].
(c) Each public college and university shall include in its annual operating budget request contributions received and how the contributions were used.
(d) A contribution claimed as a credit under this section may not

(1) be claimed as a credit under another provision of this title;

(2) also be allowed as a deduction under 26 U.S.C. 170 against the tax imposed by this chapter; and

(3) when combined with credits taken during the taxpayer's tax year under AS 21.89.070 , 21.89.075, AS 43.55.019 , AS 43.56.018 , AS 43.65.018, AS 43.75.018 , or AS 43.77.045 , exceed $150,000.

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