Section 15.55.270. Overhead before March 1, 2010.

	(a)  This subsection applies only to determining allowable overhead expenses under AS 43.55.165(a) and (b), as those provisions read on June 30, 2007, and under AS 43.55.165(a), as repealed and reenacted by see. 58, ch. 1, SSSLA 2007. For purposes of AS 43.55.165(b)(1)(C), as that provision read on June 30, 2007, and AS 43.55.165(a)(2), as repealed and reenacted by sec. 58, ch. 1, SSSLA 2007, a reasonable allowance for a producer's or explorer's overhead expenses directly related to exploring for, developing, or producing oil or gas deposits located within a lease or property or other land in the state is the sum of  
		(1) three percent of the producer's or explorer's non-overhead lease expenditures that are qualified capital expenditures; and  
		(2) nine percent of the producer's or explorer's non-overhead lease expenditures that are not  
			(A) qualified capital expenditures;  
			(B) payments of or in lieu of taxes; or  
			(C) net profit share payments under 15 AAC 55.260(a)(2).   
	(b)  Repealed 12/4/2010.  
	(c)  Repealed 12/4/2010.  
	(d)  An allowance for overhead expenses is not a qualified capital expenditure.  
	(e)  The provisions of (a)(2)(C) of this section apply to expenditures incurred after June 30, 2007.  
	(f)  This section applies to expenditures incurred before March 1, 2010.  

Authorities

43.05.080;43.55.110;43.55.165

Notes

Reference

15 AAC 55.250
15 AAC 55.800

Authority

AS 43.05.080 AS 43.55.110 AS 43.55.165

History

Eff. 5/3/2007, Register 182; am 2/27/2010, Register 193; am 12/4/2010, Register 196