Section 43.20.031. Deduction of taxes; consolidated returns; accounting methods.

   (a)   [Repealed, Sec. 10 ch 1 SSSLA 1980].
   (b)   [Repealed, Sec. 10 ch 1 SSSLA 1980].
   (c) In computing the tax under this chapter, the taxpayer is not entitled to deduct any taxes based on or measured by net income. The taxpayer may deduct the tax levied and paid under AS 43.55.
   (d)   [Repealed, Sec. 1 ch 98 SLA 1984].
   (e) An affiliated group of corporations may make or the commissioner may require them to make a consolidated return for the taxable year in place of separate returns. For purposes of calculating the amount of tax payable by the group under a consolidated filing, 26 U.S.C. 1501  - 1552 (Internal Revenue Code), as amended, apply.
   (f)   [Repealed, Sec. 10 ch 1 SSSLA 1980].
   (g)   [Repealed, Sec. 10 ch 1 SSSLA 1980].
   (h)   [Repealed, Sec. 10 ch 1 SSSLA 1980].
   (i) A corporation which is a member of a group of unitary corporations which collectively has income from business activity taxable both inside and outside the state, or income from other sources both inside and outside the state, shall determine its income from sources in this state by use of the combined method of accounting.

Notes

Implemented As

15 AAC 20.100
15 AAC 20.300
15 AAC 20.310
15 AAC 20.421
15 AAC 20.600
15 AAC 20.610
15 AAC 20.680
15 AAC 20.920

References

15 AAC 20.300

History

(Sec. 5 ch 70 SLA 1975; am Sec. 3 - 5 ch 125 SLA 1976; am Sec. 8 ch 73 SLA 1977; am Sec. 6 ch 133 SLA 1977; am Sec. 1 ch 8 SLA 1978; am Sec. 235 ch 100 SLA 1980; am Sec. 14 - 17 ch 113 SLA 1980; am Sec. 10 ch 1 SSSLA 1980; am Sec. 9 ch 2 SSSLA 1980; am Sec. 1 ch 98 SLA 1984; am Sec. 3 ch 2 TSSLA 2006)