Sec. 10.25.540. Business license and taxation of cooperatives.
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Sec. 10.25.540. Business license and taxation of cooperatives.
(a)Cooperatives under this chapter shall apply for a business license and pay the initial license fee as provided by the Alaska Business License Act ( AS 43.70 ), as amended.
(b)Before March 1 of each year,
(1)each telephone cooperative shall pay to the state, instead of state and local ad valorem, income, and excise taxes that may be assessed or levied, a percentage of its gross revenue earned during the preceding calendar year;
(2)each electric cooperative shall pay to the state, instead of state and local ad valorem, income, and excise taxes that may be assessed or levied, a tax on the number of kilowatt hours of electricity sold at retail by the cooperative during the preceding calendar year.