Section 15.20.410. 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 43.20.144.  
	(b)  A taxpayer subject to AS 43.20.144 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 42.20.144 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.  

Authorities

43.05.080;43.19.010;43.20.040;43.20.144;01.05.031;43.20.072;44.62.125

Notes

Reference

15 AAC 20.410
15 AAC 20.900

Authority

AS 43.05.080 AS 43.19.010 Art. IV, _ 18, Ak Const. AS 43.20.040 AS 43.20.144 Editor's note: In 2012 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 43.20.072 as AS 43.20.144. As of Register 204 (January 2013), the regulations attorney made conforming technical revisions under AS 44.62.125(b)(6), to 15 AAC 20.410, so that cross-references to former AS 43.20.072 now refer to the renumbered statute, AS 43.20.144. In addition, the regulations attorney made a conforming technical revision to the authority citation that follows 15 AAC 20.410, so that the citation to former AS 43.20.072 now refers to the renumbered statute, AS 43.20.144.

History

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

References

15.20.410