Sec. 47.45.120. Exemption from state and local taxation and from debt collection.
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/ak/title-47/chapter-45/47-45-120A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 47.45.120. Exemption from state and local taxation and from debt collection.
(a)Bonuses received under AS 47.45.010 — 47.45.160 are exempt from all state and political subdivision taxes except sales and use taxes. A bonus received under AS 47.45.010 — 47.45.160 is not exempt from a federal tax requirement.
(b)Bonuses received under AS 47.45.010 — 47.45.160 are exempt from levy to enforce the collection of a debt as provided in AS 09.38 (Alaska Exemptions Act).