- Alaska Statute 43.20.021(d) – Adopts federal Internal Revenue Code for state tax.
- Form 6390 – Used to calculate Alaska federal-based tax credits.
- Alaska Federal-Based Credits – State credits derived from specific federal tax incentives.
- 18% Limitation – Cap on credits based on Alaska income tax.
- Attributable to Alaska – Income or expenses linked specifically to Alaska operations.
- Form 6000 – The standard Alaska corporation net income tax return.
- Schedule H (Form 6000) – Reports Alaska dividends received deduction and dividends.
- Alaska Administrative Code 15 AAC 20.145 – Regulations governing the calculation of various tax credits.
- One-Year Carryback Provision – Allows applying current losses to previous year’s tax.
- Twenty-Year Carryforward Provision – Extends unused credits to future tax years.
- Non-Refundable Credit – Credit that reduces tax but pays no refund.
- Alaska Education Tax Credit – Incentive for donations to Alaska educational institutions.
- Form 6310 – Form for claiming the Alaska Education Tax Credit.
- Alaska Statute 43.20.014 – Law defining the state Education Tax Credit limits.
- Qualified Research Contribution – Donation of equipment/services for Alaska campus research.
- University of Alaska Foundation – Primary entity receiving qualifying Alaska educational donations.
- Accredited Alaska College – Recognized post-secondary institution eligible for education credits.
- Direct Instruction and Research – Core activities qualifying for the education tax credit.
- Alaska Statute 43.20.049 – Statute regarding Alaska’s gas and oil expenditures.
- Qualified Oil and Gas Service Industry Expenditure – Spending that triggers specific energy-related tax credits.
- Form 6300 – Used to claim various Alaska incentive credits.
- Alaska Incentive Credits – State-specific benefits encouraging local economic investment.
- Alaska Net Income Tax Act – The primary law governing corporate income taxation.
- Internal Revenue Code Conformity – Alaska’s alignment with federal tax law definitions.
- IRC Section 41 Adoption – Alaska’s incorporation of federal research credit rules.
- IRC Section 38 Adoption – Adoption of federal general business credit frameworks.
- Form 6395 – Form for the Alaska Gasline Storage Credit.
- Alaska Passive Activity Limitation – Restrictions on deducting losses from passive investments.
- Alternative Minimum Tax (AMT) Offset – Using credits to reduce state AMT liability.
- Alaska Statute 43.20.036(b) – Defines reporting requirements for unitary business groups.
- Apportionment of Federal Credit – Dividing federal credits based on Alaska activity.
- Alaska Taxable Income – Income subject to tax after adjustments and apportionment.
- Unitary Business Group – Related companies operating as a single economic unit.
- Combined Reporting – Filing method aggregating income of unitary group members.
- Water’s Edge Election – Limits combined reporting to domestic (U.S.) entities.
- Intercompany Eliminations – Removing transactions between members of a unitary group.
- Schedule A (Form 6000) – Computes the Alaska apportionment factor for corporations.
- Schedule D (Form 6000) – Details the Alaska consolidated or combined return.
- Schedule E (Form 6000) – Used for calculating Alaska’s alternative minimum tax.
- Form 6220 – Alaska’s form for calculating underpayment of interest.
- Underpayment of Estimated Tax – Penalty for failing to pay sufficient quarterly taxes.
- Alaska Department of Revenue – The state agency responsible for tax administration.
- Tax Credit Certificate – Official document verifying an approved, claimable credit.
- Transferable Tax Credit – Credits that can be sold to other taxpayers.
- Alaska Statute 43.55.023 – Law governing oil and gas production tax credits.
- Qualified Capital Expenditure – Investment in assets eligible for production tax credits.
- Middle Earth Oil and Gas Tax Credits – Credits for specific geographic oil and gas areas.
- Ordering of Credits – Sequence in which different tax credits apply.
- Specific Credits Basket – Category for credits applied against specific tax types.
- General Business Credit Basket – Broad category for various corporate incentive credits.