Section 15 AAC 55.511 - Installment payments of estimated tax for oil and gas produced after June 30, 2007 and before January 1 2022(a) For purposes of the calculations described in AS 43.55.020(a)(1)(A)(ii) and (5)(A)(ii) for oil and gas produced after June 30, 2007, the gross value at the point of production of the oil and gas produced and the deductible adjusted lease expenditures are calculated only for oil and gas taxable under AS 43.55.011(e) and not subject to AS 43.55.011(f), (o), or (p).(b) For purposes of the calculations described in AS 43.55.020(a)(1)(B)(ii) and (5)(B)(ii) for oil and gas produced after June 30, 2007, (1) the gross value at the point of production of the oil and gas produced is calculated only for oil and gas taxable under AS 43.55.011(e), subject to AS 43.55.011(f), and not subject to AS 43.55.011(o);(2) the applicable percentage of the gross value at the point of production is determined under AS 43.55.011(f) but substituting the phrase "the month for which the installment payment is calculated" for the phrase "the calendar year for which the tax is due";(3) the average price per barrel for Alaska North Slope crude oil for sale on the United States West Coast during a month is equal to the average spot price for ANS at the United States West Coast during the month as calculated under 15 AAC 55.171(m).(c) For purposes of the calculations (1) described in AS 43.55.020(a)(1)(B)(iii) and (5)(B)(iii) for oil and gas produced after June 30, 2007, the gross value at the point of production of the oil and gas produced and the deductible adjusted lease expenditures are calculated only for oil and gas taxable under AS 43.55.011(e), subject to AS 43.55.011(f), and not subject to AS 43.55.011(o);(2) described in AS 43.55.020(a)(5)(B)(iii) for oil and gas produced after December 31, 2013, if the gross value at the point of production of the oil and gas produced during the month for which the installment payment is calculated is reduced under AS 43.55.160(f) or under AS 43.55.160(f) and (g) in the calculation of an annual production tax value under AS 43.55.160(a)(1)(A), the gross value at the point of production is also reduced in the calculation of the installment payment.(d) For purposes of the calculations described in AS 43.55.020(a)(1)(C)(ii) and (5)(C)(ii) for oil and gas produced after June 30, 2007, the gross value at the point of production of the oil or gas produced and the deductible adjusted lease expenditures are calculated only for oil and gas taxable under AS 43.55.011(e) and subject to AS 43.55.011(j), (k), or (o).(e) For purposes of calculating the installment payment required under AS 43.55.020(a)(3), the amount under (1)AS 43.55.020(a)(3)(A) is calculated separately for each lease or property and may not be less than zero;(2)AS 43.55.020(a)(3)(B) is calculated separately for each lease or property and may not be less than zero.(f) For purposes of the calculations described in AS 43.55.020(a)(1)(D)(i) and (ii) and (5)(D)(i) and (ii) for oil and gas produced after June 30, 2007, the gross value at the point of production of the oil and gas produced and the deductible adjusted lease expenditures are calculated only for oil and gas taxable under AS 43.55.011(e) and subject to AS 43.55.011(p).(g) The provisions of AS 43.55.020(a)(1) and (2) apply to oil and gas produced before January 1, 2014. The provisions of AS 43.55.020(a)(5) and (6) apply to oil and gas produced after December 31,2013 and before January 1, 2022.(h) For oil or gas produced by a municipal entity,(1) an installment payment under AS 43.55.020(a) is calculated only for oil or gas that the municipal entity sells to another party;(2) where the calculation of an installment payment under AS 43.55.020(a) calls for deducting 1/12 of the producer's adjusted lease expenditures for a calendar year that are deductible under AS 43.55.160, the amount of deductible adjusted lease expenditures for the calendar year is subject to 15 AAC 55.208(b).(i) Where the calculation of an installment payment of estimated tax under AS 43.55.020(a) calls for subtracting 1/12 of the producer's adjusted lease expenditures for the calendar year of production under AS 43.55.165 and 43.55.170 that are deductible for specified oil, gas, or oil and gas, those lease expenditures include lease expenditures that are described in AS 43.55.165(a)(3), but only the following portion of the lease expenditures described in AS 43.55.165(a)(3) is subtracted: 1/12 of the adjusted lease expenditures described in AS 43.55.165(a)(3) that are actually deducted in calculating the annual production tax value for the calendar year for the oil, gas, or oil and gas under AS 43.55.160(a)(1) or AS 43.55.160(h), as apphcable.Eff. 10/21/2009, Register 192; am 4/30/2010, Register 194; am 12/25/2013, Register 208, January 2014; am 3/1/2017, Register 221, April 2017; am 12/6/2018, Register 228, January 2019; am 1/1/2022, Register 240, January 2022 Authority:AS 43.05.080
AS 43.55.011
AS 43.55.020
AS 43.55.110
AS 43.55.160
AS 43.55.165
AS 43.55.895