Alaska SB 186: An Act establishing a tax on certain entities producing or transporting oil or gas in the state; and providing for an effective date.

Status: (S) Referred to RESOURCES (as of 2020-02-12)

State: Alaska · Session: 31 · Bill: SB 186

Subjects: CORPORATIONS, OIL & GAS, PARTNERSHIPS, REVENUE, TAXATION

Sponsors: WIELECHOWSKI

Bill Text

Alaska State Legislature 

• 

• 

• 

• 

• 

• 

 The Alaska State Legislature 

 menu 

• 

 Home 

• 

 Senate 

• 

 Current Members 

• 

 Past Members 

• 

 By Session 

• 

 Alphabetical 

• 

 House 

• 

 Current Members 

• 

 Past Members 

• 

 By Session 

• 

 Alphabetical 

• 

 Bills & Laws 

• 

 Bills 

• 

 All Introduced 

• 

 Actions by Date 

• 

 Awaiting Actions 

• 

 Bills sent to Conf Committee 

• 

 Bills in Committee 

• 

 Governor's Vetoes 

• 

 Passed Legislation 

• 

 Prefile Bill Summary 

• 

 Requestor Summary 

• 

 Statistics 

• 

 Sponsor Summary 

• 

 Subject Summary 

• 

 Laws 

• 

 Constitution 

• 

 Constitutional Convention Files 

• 

 Statutes 

• 

 Executive Orders - Current 

• 

 Executive Orders - Historical 

• 

 Administrative Code 

• 

 Journals 

• 

 Session Laws & Resolves 

• 

 Session Laws & Resolves 2019 

• 

 Session Laws & Resolves 2020 

• 

 1981 - Previous Year Session Law 

• 

 1983 - Previous Year Legislative Resolves 

• 

 Tools 

• 

 Statute Information Retrieval System 

• 

 Bill Tracking Management Facility 

• 

 Past Legislatures (Archives) 

• 

 Committees 

• 

 Hearing Schedule 

• 

 Standing Committees 

• 

 Finance Committees 

• 

 Special Committees 

• 

 Joint Committees 

• 

 Conference Committees 

• 

 Other Committees 

• 

 Minutes 

• 

 Publications 

• 

 Get Started 

• 

 Information Offices 

• 

 Legislative Affairs 

• 

 Legislative Agencies 

• 

 Links 

• 

 Legislative Branch 

• 

 Executive Branch 

• 

 Judicial Branch 

• 

 Alaska Delegation 

• Home 

• Bill & Laws 

• Bills 

• SB 186 Detail 

• FullText 

 txt 

 SB 186: "An Act establishing a tax on certain entities producing or transporting oil or gas in the state; and providing for an effective date." 

00 SENATE BILL NO. 186 01 "An Act establishing a tax on certain entities producing or transporting oil or gas in the 02 state; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 05 to read: 06 SHORT TITLE. This Act may be known as the Petroleum Corporate Tax Loophole 07 Elimination Act. 08 * Sec. 2. AS 43.20 is amended by adding a new section to read: 09 Sec. 43.20.019. Tax on income attributable to a qualified entity. (a) If an 10 entity has qualified taxable income over $4,000,000 in a tax year, the entity shall pay a 11 tax of 9.4 percent on the qualified taxable income over $4,000,000. 12 (b) The tax under this section does not apply to a corporation paying tax under 13 AS 43.20.011. 14 (c) The department may aggregate the qualified taxable income of two or 

01 more entities for the purpose of determining the tax due under this section if the 02 department determines that, without the provisions of this section, the qualified 03 taxable income would reasonably be expected to be attributed to a single entity. 04 (d) In this section, 05 (1) "entity" means a sole proprietorship, partnership, or entity that has 06 elected to file federal returns under 26 U.S.C. 1361 - 1379 (Internal Revenue Code); 07 (2) "qualified taxable income" means income from the production of 08 oil or gas from a lease or property in the state or from the transportation of oil or gas 09 by pipeline in the state. 10 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 11 read: 12 APPLICABILITY. Section 2 of this Act applies to an entity with qualified taxable 13 income over $4,000,000 for a tax year beginning on or after the effective date of sec. 2 of this 14 Act. 15 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to 16 read: 17 TRANSITION: REGULATIONS. The Department of Revenue may adopt regulations 18 necessary to implement the changes made by this Act. The regulations take effect under 19 AS 44.62 (Administrative Procedure Act), but not before July 1, 2020. 20 * Sec. 5. Section 4 of this Act takes effect immediately under AS 01.10.070(c). 21 * Sec. 6. Except as provided in sec. 5 of this Act, this Act takes effect July 1, 2020. 

 Welcome to
The Alaska State Legislature 

 This web site is the place to track bills, locate and contact your legislators, and access committee information. Questions? Try our help wizard or call 907-465-4648.

 SMS Bill Tracking

 Text a bill number (ex: HB1) to 559-245-2529 to enroll in text alerts. You will receive an enrollment confirmation and instructions on how to stop receiving the alerts. 

 WHO REPRESENTS ME??

FIND

 Mobile Apps 

• 

• 

 --> 

 Quick Links

• Infobases 

• Districts 

• FAQ 

• Legislative Information Offices 

• Legislative Affairs Agency 

• Public Opinion Messages 

 Legislative Links

• Finance 

• Audit 

• Ombudsman 

• 100 Years Centennial 

• Office of Victims' Rights 

• Statutory Reporting 

• Ethics 

• LB&A 

 senate

• Majority 

• Minority 

 house

• Majority 

• Min

View Alaska SB 186 on LegisTrack → — full text, sponsors, votes, campaign finance, and cross-state matches.