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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 15. Revenue. |
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Chapter 15.20. Alaska Net Income Tax. |
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Article 15.20.6. Corporate Net Income Tax; Special Rules for Financial Organizations and for Other Taxpayers with Tax-exempt Income. |
Section 15.20.620. Exempt income and related expenses.
Latest version.
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(a) Expenses incurred in acquiring, maintaining, and disposing of tax-exempt assets, including interest expense, may not be deducted in computing taxable income. (b) For a taxpayer that is a member of a group of unitary corporations, "expenses" and "tax-exempt assets" in (a) of this section mean the expenses and tax-exempt assets of the taxpayer's combined group. (c) For a taxpayer that is a member of a consolidated group that files a consolidated return, "expenses" and "tax-exempt assets" in (a) of this section mean the expenses and tax-exempt assets of the taxpayer's consolidated group.
Authorities
43.05.080;43.20.021;43.20.160