Section 15 AAC 55.375 - Order of applying tax credits(a) For purposes of applying a percentage limitation under AS 43.55.023(e) or on the use of tax credits against a tax levied by AS 43.55.011(e), a producer shall, subject to 15 AAC 55.335(g), (1) first, apply all tax credits allowable against the tax levied by AS 43.55.011(e) other than credits subject to a percentage limitation under AS 43.55.023(e) or;(3) second, apply a credit subject to a percentage limitation under AS 43.55.023(e) against not more than 20 percent of the balance of the remaining tax liability under AS 43.55.011(e), if any.(c) Except as provided under (a) of this section, and subject to 15 AAC 55.335(g), a producer may apply tax credits in any order, if the producer submits with the statement required under AS 43.55.030(a) a separate schedule setting out the order in which the tax credits are applied. In the absence of that schedule, tax credits must be applied in the following order: (1) first, any credit under AS 43.55.024(a);(2) second, any credit under AS 43.55.024(c);(3) third, for a calendar year after 2013, any credit under AS 43.55.024(i);(4) fourth, any credit under AS 43.55.019;(5) fifth, for a calendar year after 2013, any credit under AS 43.55.024(j);(6) sixth, any credit under AS 43.55.025;(8) seventh, any credit under AS 43.55.023(a);(9) eighth, any credit under AS 43.55.023(1);(10) ninth, any credit under AS 43.55.023(b), as the provisions of that subsection read before January 1, 2018;(13) tenth, any credit under AS 43.55.023(e).Eff. 5/3/2007, Register 182; am 10/21/2009, Register 192; am 9/14/2012, Register 203; am 12/25/2013, Register 208, January 2014; am 3/1/2017, Register 221, April 2017; am 12/6/2018, Register 228, January 2019Authority:AS 43.05.080
AS 43.55.023
AS 43.55.024
AS 43.55.025
AS 43.55.110