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Alaska Statutes (Last Updated: January 11, 2017) |
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Title 43. REVENUE AND TAXATION. |
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Chapter 43.55. OIL AND GAS PRODUCTION TAX AND OIL SURCHARGE. |
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Article 43.55.04. GENERAL PROVISIONS. |
Section 43.55.895. Applicability to municipal entities.
Latest version.
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(a) Notwithstanding AS 29.35.670(a) or other provision of law, a producer that is a municipal entity is subject to taxation and payment of surcharges under this chapter for oil and gas that it sells to another party.
(b) [See delayed amendment note]. =ro A municipal entity subject to taxation because of this section
(1) is eligible for tax credits proportionate to its production taxable under AS 43.55.011(e);
(2) shall allocate its lease expenditures in proportion to its production taxable under AS 43.55.011(e).
(c) In this section, "municipal entity" means a municipality, municipally owned utility, public corporation of a municipality, or entity established by more than one municipality.