Section 15.55.511. Installment payments of estimated tax for oil and gas produced after June 30, 2007.  


Latest version.
  • 	(a)  For purposes of the calculations described in AS 43.55.020(a)(1)(A)(ii) and (5)(A)(ii) for oil and gas produced after June 30, 2007, the gross value at the point of production of the oil and gas produced and the deductible adjusted lease expenditures are calculated only for oil and gas taxable under AS 43.55.011(e) and not subject to AS 43.55.011(f), (o), or (p).  
    	(b)  For purposes of the calculations described in AS 43.55.020(a)(1)(B)(ii) and (5)(B)(ii) for oil and gas produced after June 30, 2007,  
    		(1) the gross value at the point of production of the oil and gas produced is calculated only for oil and gas taxable under AS 43.55.011(e), subject to AS 43.55.011(f), and not subject to AS 43.55.011(o);  
    		(2) the applicable percentage of the gross value at the point of production is determined under AS 43.55.011(f)(1) - (4) but substituting the phrase "the month for which the installment payment is calculated" for the phrase "the calendar year for which the tax is due";  
    		(3) the average price per barrel for Alaska North Slope crude oil for sale on the United States West Coast during a month is equal to the average spot price for ANS at the United States West Coast during the month as calculated under 15 AAC 55.171(m).  
    	(c)  For purposes of the calculations described in AS 43.55.020(a)(1)(B)(iii) and (5)(B)(ii) for oil and gas produced after June 30, 2007, the gross value at the point of production of the oil and gas produced and the deductible adjusted lease expenditures are calculated only for oil and gas taxable under AS 43.55.011(e), subject to AS 43.55.011(f), and not subject to AS 43.55.011(o).  
    	(d)  For purposes of the calculations described in AS 43.55.020(a)(1)(C)(ii) and (5)(C)(ii) for oil and gas produced after June 30, 2007, the gross value at the point of production of the oil or gas produced and the deductible adjusted lease expenditures are calculated only for oil and gas taxable under AS 43.55.011(e) and subject to AS 43.55.011(j), (k), or (o).  
    	(e)   For purposes of calculating the installment payment required under AS 43.55.020(a)(3), the amount under  
    		(1) AS 43.55.020(a)(3)(A) is calculated separately for each lease or property and may not be less than zero;  
    		(2) AS 43.55.020(a)(3)(B) is calculated separately for each lease or property and may not be less than zero.  
    	(f)  For purposes of the calculations described in AS 43.55.020(a)(1)(D)(i) and (ii) and (5)(D)(i) and (ii) for oil and gas produced after June 30, 2007, the gross value at the point of production of the oil and gas produced and the deductible adjusted lease expenditures are calculated only for oil and gas taxable under AS 43.55.011(e) and subject to AS 43.55.011(p).  
    	(g)  The provisions of AS 43.55.020(a)(1) and (2) apply to oil and gas produced before January 1, 2014. The provisions of AS 43.55.020(a)(5) and (6) apply to oil and gas produced after December 31, 2013.  
    

Authorities

43.05.080;43.55.011;43.55.020;43.55.110

Notes


Reference

15 AAC 55.800
Authority
AS 43.05.080 AS 43.55.011 AS 43.55.020 AS 43.55.110
History
Eff. 10/21/2009, Register 192; am 4/30/2010, Register 194; am 12/25/2013, Register 208