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 15.21.100. Taxable production income.
Latest version.
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A taxpayer's taxable production income during a year equals the total of the taxpayer's gross production revenue (determined in accordance with 15 AAC 21.100 - 15 AAC 21.130) during that year for each lease or property in the state in which the taxpayer has a production interest, plus the total of the taxpayer's extraordinary production revenue (determined in accordance with 15 AAC 21.140), if any, during that year for each lease or property in the state in which the taxpayer has a production interest, minus the total of the taxpayer's deductions for that year under 15 AAC 21.200 - 15 AAC 21.290, and minus the total of the taxpayer's extraordinary production loss (determined in accordance with 15 AAC 21.140), if any, during that year for each lease or property in the state in which the taxpayer has a production interest.
Authorities
43.05.080;43.19.010;43.21.020;43.21.090
Notes
Authority
AS 43.05.080 AS 43.19.010 Art. IV, _ 18, Ak Const. AS 43.21.020 AS 43.21.090History
Eff. 2/22/79, Register 69