Sec. 43.55.060. Delinquency.
When the tax provided for in this chapter becomes delinquent, it bears interest as provided in AS 43.05.225(1). If any person fails to make a report required by this chapter, within the time prescribed by law for the report, the department shall examine the books, records and files of the person to determine the amount […]
Sec. 43.55.011. Oil and gas production tax.
(a) [Repealed, § 34 ch 2 TSSLA 2006.] (b) [Repealed, § 34 ch 2 TSSLA 2006.] (c) [Repealed, § 34 ch 2 TSSLA 2006.] (d) [Repealed, § 18 ch 116 SLA 1981.] (e) There is levied on the producer of oil or gas a tax for all oil and gas produced each calendar year from […]
Sec. 43.55.014. Payment in gas of tax for gas.
(a) For gas produced on and after January 1, 2022, other than gas described in (e) of this section, the department shall allow a producer to make an election, under regulations adopted by the department, to pay in gas the production tax levied by this section in lieu of the tax otherwise levied for the […]
Sec. 43.55.017. Relation to other taxes.
(a) Except as provided in this chapter, the taxes imposed by this chapter are in place of all taxes now imposed by the state or any of its municipalities, and neither the state nor a municipality may impose a tax on (1) producing oil or gas leases; (2) oil or gas produced or extracted in […]
Sec. 43.55.019. Oil or gas producer education credit. [See delayed repeal note.]
(a) A producer of oil or gas is allowed a credit against the tax levied by AS 43.55.011(e) for contributions of cash or equipment accepted for (1) direct instruction, research, and educational support purposes, including library and museum acquisitions, and contributions to endowment, by an Alaska university foundation or by a nonprofit, public or private, […]
Sec. 43.55.020. Payment of tax.
(a) For a calendar year, a producer subject to tax under AS 43.55.011 shall pay the tax as follows: (1) for oil and gas produced before January 1, 2014, an installment payment of the estimated tax levied by AS 43.55.011(e), net of any tax credits applied as allowed by law, is due for each month […]
Sec. 43.55.023. Tax credits for certain losses and expenditures.
(a) A producer or explorer may take a tax credit for a qualified capital expenditure as follows: (1) notwithstanding that a qualified capital expenditure may be a deductible lease expenditure for purposes of calculating the production tax value of oil and gas under AS 43.55.160(a), unless a credit for that expenditure is taken under former […]
Sec. 43.55.024. Additional nontransferable tax credits.
(a) For a calendar year for which a producer’s tax liability under AS 43.55.011(e) on oil and gas produced from leases or properties outside the Cook Inlet sedimentary basin, no part of which is north of 68 degrees North latitude, exceeds zero before application of any credits under this chapter, a producer that is qualified […]
Sec. 43.55.025. Alternative tax credit for oil and gas exploration.
(a) Subject to the terms and conditions of this section, a credit against the tax levied by AS 43.55.011(e) or, if the credit is for exploration expenditures incurred for work performed on or after July 1, 2016, against the tax levied by AS 43.20 is allowed for exploration expenditures that qualify under (b) of this […]
Sec. 43.55.028. Oil and gas tax credit fund established; cash purchases of tax credit certificates.
(a) The oil and gas tax credit fund is established as a separate fund of the state. The purpose of the fund is to purchase transferable tax credit certificates issued under AS 43.55.023 and production tax credit certificates issued under AS 43.55.025 and to pay refunds and payments claimed under AS 43.20.046, 43.20.047, or 43.20.053. […]