Alaska Administrative Code (Last Updated: January 12, 2017) |
Title 15. Revenue. |
Chapter 15.21. Oil and Gas Corporate Income Tax. |
Article 15.21.1. Application of Tax. |
Section 15.21.030. Consolidated business.
Latest version.
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(a) A group of two or more corporations that are directly or indirectly controlled or more than 50-percent owned (directly or through one or more intermediaries) by one common person (corporate or otherwise) is a consolidated business for purposes of this chapter. (b) The income, expenses, and assets of a consolidated business include, respectively, all income, expenses and assets attributed to it under 15 AAC 21.040. (c) If a corporation or consolidated business is controlled (by a means characteristic of ownership rather than through the exercise of general governmental powers such as laws, regulations, judicial decisions, proclamations, and the like) or more than 50-percent owned by a sovereign, head of state, government or governmental agency, the consolidated business does not include the sovereign, head of state, government or governmental agency for purposes of this chapter.
Authorities
43.05.080;43.19.010;43.21.050;43.21.090;43.21.120
Notes
Authority
AS 43.05.080 AS 43.19.010 Art. IV, _ 18, Ak Const. AS 43.21.050 AS 43.21.090 AS 43.21.120History
Eff. 2/22/79, Register 69; am 5/21/81, Register 78