Section 10.25.540. Business license and taxation of cooperatives.

   (a) Cooperatives under this chapter shall apply for a business license and pay the initial license fee as provided by the Alaska Business License Act (AS 43.70), as amended.
   (b) Before March 1 of each year,
        (1) each telephone cooperative shall pay to the state, instead of state and local ad valorem, income, and excise taxes that may be assessed or levied, a percentage of its gross revenue earned during the preceding calendar year;
        (2) each electric cooperative shall pay to the state, instead of state and local ad valorem, income, and excise taxes that may be assessed or levied, a tax on the number of kilowatt hours of electricity sold at retail by the cooperative during the preceding calendar year.

Authorities

42.45.310

Notes

References

AS 42.45.310 Acquisition of power project.

History

(Sec. 33 ch 93 SLA 1959; am Sec. 1 ch 66 SLA 1960; am Sec. 1 ch 74 SLA 1980)