Sec. 43.55.895. Applicability to municipal entities.
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Sec. 43.55.895. Applicability to municipal entities.
(a)Notwithstanding AS 29.35.670
(a)or other provision of law, a producer that is a municipal entity is subject to taxation and payment of surcharges under this chapter for oil and gas that it sells to another party.
(b)A municipal entity subject to taxation because of this section
(1)is eligible for tax credits proportionate to its production taxable under AS 43.55.011 (e); and
(2)shall allocate its lease expenditures in proportion to its production taxable under AS 43.55.011 (e).
(c)In this section, “municipal entity” means a municipality, municipally owned utility, public corporation of a municipality, or entity established by more than one municipality.