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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 15. Revenue. |
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Chapter 15.77. Fishery Resource Landing Tax. |
Section 15.77.065. Accounting for revenue sharing.
Latest version.
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(a) The annual balance in the separate account in the general fund that is available for revenue sharing under AS 43.77 is reduced by all tax credits claimed on returns as a reduction of the tax liability. The effect of this reduction for the tax credits is to reduce dollar-for-dollar the amount that otherwise would have been paid to municipalities. (b) The department will attempt to specifically allocate the reduction in the amount of revenue sharing as a result of the tax credits to those municipalities in which the fishery resources harvested under the provisions of a community development quota were landed. In the event that information is not available for that purpose, the department will apportion the reduction to all areas in the state in which fishery resources were landed.
Authorities
43.77.050;43.77.060;43.77.070