Alaska Administrative Code › Title 15 - Revenue › Chapter 77 - Fishery Resource Landing Tax › 15 AAC 77.040 - Value and notice of value

Current through May 31, 2024
(a) The value of the fishery resource is the
			 statewide average price paid per pound for unprocessed fishery resources of the
			 same species as reported to the Department of Fish and Game under
			 AS
			 16.05.690. The department will, in its
			 discretion, adjust the statewide average prices paid for fishery resources to
			 eliminate high and low prices and to take into account tendering fees, price
			 adjustments, and deferred payments, such as bonuses.
(b) In the absence of a Department of Fish
			 and Game statewide average price for a particular species, the department will,
			 in its discretion use information from other governmental agencies, such as the
			 United States National Marine Fisheries Service, or other sources, such as
			 Department of Revenue fisheries business tax return information, to arrive at a
			 statewide average price for that species. The department statewide average
			 price must be used to file the return and pay the tax required under AS 43.77
			 and this chapter, but a person may protest the price determined under this
			 subsection at the time of filing the return and seek a refund. The department
			 statewide average price determination may only be overcome by clear and
			 convincing evidence of the full market value of the unprocessed fishery
			 resources, submitted to the department by the person making the protest.
(c) A person required to file a
			 return and pay the tax under AS 43.77 and this chapter shall notify the
			 department in writing on or before January 31 following the year for which a
			 return and tax is required, and request notice of the value for each species of
			 fishery resources landed in the state in the previous calendar year for which
			 the statewide average price was not available in the previous year. The
			 notification must be made on a form provided by the department. The department
			 will provide the information by United States mail, telephone, or facsimile
			 transmission to the person requesting it as soon as practicable after the
			 information becomes available. The information is considered to have been
			 provided by the department on the date of the facsimile transmission, of the
			 telephone contact, or on the letter, whichever is the earliest. The department
			 is not required to publish the information described in (a) and (b) of this
			 section.
(d) A person that is not
			 required to file a return and pay the tax under this chapter, such as a tax
			 return preparer, may informally request information at any time concerning the
			 values for fishery resources landed in the state. A person subject to (c) of
			 this section may not rely on another person to timely obtain value information
			 under this section.
(e) For the
			 purposes of this section, "average price" means the mean of two or more prices
			 paid per pound for unprocessed fishery resource. In calculating the average
			 price, the department will, in its discretion, use a simple average or a
			 weighted average based on a volume by price or weight, depending on the
			 availability of data to the department at the time and accuracy of that data.
			 The average price may also be computed to take into account seasonal
			 differences in prices.
Authority:
AS
				  43.77.010
AS
				  43.77.070
AS
				  43.77.200