Section 15.55.275. Exclusions from lease expenditures.

	(a)  The portion of a producer's expenditures incurred during a calendar year before 2022 that is excluded under AS 43.55.165(e)(18) is calculated separately for each segment under 15 AAC 55.205 or 15 AAC 55.206, as applicable. Subject to prorating for only a portion of a calendar year as provided under AS 43.55.165(e)(18), the excluded portion for a segment is $1 less than the product of $.30 multiplied by the total amount of taxable  
		(1) oil and gas, in BTU equivalent barrels, produced by the producer from leases or properties corresponding to the segment described in 15 AAC 55.205(c)(1)(A) or 15 AAC 55.206(c)(1)(A), as applicable, for that segment;  
		(2) oil and gas, in BTU equivalent barrels, produced by the producer from leases or properties corresponding to the segment described in 15 AAC 55.205(c)(1)(B) or 15 AAC 55.206(c)(1)(B), as applicable, for that segment;  
		(3) oil, in BTU equivalent barrels, produced by the producer from a lease or property corresponding to a segment described in 15 AAC 55.205(c)(1)(C) or 15 AAC 55.206(c)(1)(C), as applicable, for that segment;  
		(4) gas, in BTU equivalent barrels, produced by the producer from a lease or property corresponding to a segment described in 15 AAC 55.205(c)(1)(D) or 15 AAC 55.206(c)(1)(D), as applicable, for that segment;  
		(5) gas, in BTU equivalent barrels, produced by the producer after June 30, 2007, from a lease or property corresponding to a segment described in 15 AAC 55.206(c)(1)(E), for that segment.  
	(b)  The portion of a producer's expenditures that is excluded for a segment under AS 43.55.165(e)(18) may not exceed the total amount of expenditures that would be qualified capital expenditures applicable to the segment but for the exclusion provided under AS 43.55.165(e)(18).  
	(c)  For purposes of AS 43.55.165(e)(18) and (a) of this section, taxable oil or gas is all oil or gas produced from a lease or property in the state except oil and gas the ownership or right to which is exempt from taxation  

Authorities

43.05.080;43.55.023;43.55.110;43.55.165

Notes

Reference

15 AAC 55.280
15 AAC 55.330
15 AAC 55.800

Authority

AS 43.05.080 AS 43.55.023 AS 43.55.110 AS 43.55.165

History

Eff. 5/3/2007, Register 182; am 10/21/2009, Register 192