Alaska Administrative Code
Title 15 - Revenue
Chapter 20 - Alaska Net Income Tax
Article 4 - Corporate Net Income Tax; Special Rules for Oil and Gas Corporations
15 AAC 20.520 - Relief

Universal Citation: 15 AK Admin Code 15 AAC 20.520
Current through August 30, 2024

If the methods of allocation and apportionment in this chapter do not fairly represent the extent of a corporation's business activity in the state, the corporation may petition for or the department may require, in respect to all or any part of the corporation's business activity, if reasonable, the employment of any method authorized under art. IV, sec. 18, of the Multistate Tax Compact (AS 43.19.010) to effectuate an equitable allocation and apportionment of the corporation's income. If a taxpayer can demonstrate or the department determines that a distortion of income apportioned to the state has arisen, the taxpayer may request, or the department will, in its discretion, require, that the apportionment formula in AS 43.20.144 and 15 AAC 20.490 be modified to provide appropriate relief under the circumstances.

In 2012 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 43.20.072 as AS 43.20.144. As of Register 204 (January 2013), the regulations attorney made a conforming technical revision under AS 44.62.125(b)(6), to 15 AAC 20.520, so that the cross-reference to former AS 43.20.072 now refers to the renumbered statute, AS 43.20.144. In addition, the regulations attorney made a conforming technical revision to the authority citation that follows 15 AAC 20.520, so that the citation to former AS 43.20.072 now refers to the renumbered statute, AS 43.20.144.

Authority:AS 43.05.080

AS 43.19.010

AS 43.20.144

Art. IV, § 18

Ak Const.

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