Section 15.21.300. Taxable oil pipeline income.

Taxable oil pipeline income during a year from an oil pipeline operating wholly or partially in the state equals that year's operating revenues (determined under 15 AAC 21.310) for that pipeline, minus that year's operating expenses (determined under 15 AAC 21.350) for that pipeline, and plus or minus that year's extraordinary operating revenues or losses (determined under 15 AAC 21.320), respectively, for that pipeline. A taxpayer's taxable oil-pipeline income during a year for purposes of this chapter equals the sum of the taxpayer's share (if any) of that year's taxable oil-pipeline income derived from in-state operations for each oil pipeline operating wholly or partially in the state.  

Authorities

43.05.080;43.19.010;43.21.030;43.21.090

Notes

Reference

15 AAC 21.050

Authority

AS 43.05.080 AS 43.19.010 Art. IV, _ 18, Ak Const. AS 43.21.030 AS 43.21.090

History

Eff. 2/22/79, Register 69