Section 15.55.430. Tax based on price index for oil and gas produced before July 1, 2007.

	(a)  The amount of tax levied by AS 43.55.011(g), as the provisions of that subsection read on June 30, 2007, for oil and gas produced before July 1, 2007, is calculated separately for each segment under 15 AAC 55.205(c) for each month in a calendar year. The amount of tax for a segment for a month is equal to the monthly production tax value for the segment under AS 43.55.160(a)(2), as the provisions of that subsection read on June 30, 2007, and 15 AAC 55.205, multiplied by a tax rate that is equal to the product of .25 percent multiplied by the price index for the month determined under AS 43.55.011(h), as the provisions of that subsection read on June 30, 2007. For purposes of the sum, over all months in a calendar year, of the amounts of tax calculated for each month under AS 43.55.011(g), as the provisions of that subsection read on June 30, 2007, if the price index for a month determined under AS 43.55.011(h), as the provisions of that subsection read on June 30, 2007, is zero, the amount of tax calculated for all segments for that month is zero.  
	(b)  The price index determined under AS 43.55.011(h), as the provisions of that subsection read on June 30, 2007,  is calculated separately for each month in a calendar year. For purposes only of AS 43.55.011(h), as the provisions of that subsection read on June 30, 2007, the total  
		(1) monthly production tax value of the taxable oil and gas produced by a producer during a month is the total gross value at the point of production of that taxable oil and gas produced from all leases or properties in the state, less 1/12 of the total adjusted lease expenditures incurred by the producer during the calendar year irrespective of the lease or property in the state from which the oil and gas, if any, to which the lease expenditures are applicable under 15 AAC 55.215 were produced;  
		(2) amount of the taxable oil and gas produced by a producer during a month is the total amount of oil and gas taxable under AS 43.55.011(g), as the provisions of that subsection read on June 30, 2007, and produced by the producer during the month from all leases or properties in the state.  
	(c)  For purposes of determining a price index under AS 43.55.011(h), as the provisions of that subsection read on June 30, 2007, and a tax rate under (a) of this section, the automatic convention in the rounding command or function in commercially available software must be followed to round  
		(1) the price index to the nearest 1/10 of a cent; and  
		(2) the tax rate, expressed as a percentage, to three decimal places.  
	(d)  This section applies to oil and gas produced before July 1, 2007.  

Authorities

43.05.080;43.55.011;43.55.110;43.55.160

Notes

Reference

15 AAC 55.800

Authority

AS 43.05.080 AS 43.55.011 AS 43.55.110 AS 43.55.160

History

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