Alaska Administrative Code › Title 15 - Revenue › Chapter 55 - Oil and Gas Production Tax and Oil Surcharge › Article 2 - Production Tax Value of Oil and Gas › 15 AAC 55.206 - Calculation of production tax values for oil and gas produced after June 30, 2007 and before January 1, 2022, and for oil produced after December 31, 2021

Current through May 31, 2024
(a) A producer or, under
				AS
				43.55.160(d), an explorer
				shall calculate a single production tax value for a calendar year, under
				AS
				43.55.160(a)(1), or, as
				applicable for each segment.
(b)
				The provision of
				AS
				43.55.160(b) that a
				production tax value may not be less than zero applies to each production tax
				value calculated for each segment. Subject to the provisions of
				AS
				43.55.023(b)(2), as those
				provisions read before January 1, 2018, for oil and gas produced before January
				1, 2018, or the provisions of
				AS
				43.55.160(e), for oil and
				gas produced after December 31, 2017, adjusted lease expenditures applicable to
				a segment that exceed the amount of adjusted lease expenditures that may, under
				AS
				43.55.160(b), be deducted in
				calculating a production tax value for the segment are considered excess
				adjusted lease expenditures and, except as otherwise provided under
				15 AAC 55.224, may not be reallocated to, or deducted in
				calculating a production tax value for, a different segment. Excess adjusted
				lease expenditures relating to the calculation of an annual production tax
				value, but not a monthly production tax value, may be used to establish a
				carried-forward annual loss to the extent allowed under
				AS
				43.55.023(b), as the
				provisions of that subsection read before January 1, 2018, for oil and gas
				produced before January 1. 21)18, or under
				AS
				43.55.165(a)(3). for oil and
				gas produced after December 31, 2017, and
				AS
				43.55.160(e).
(c) For purposes of this section,
(1) for oil and gas produced for a calendar
				year before 2022, and except as otherwise provided under (2) of this
				subsection, each of the following is a segment for a producer:
(A) all oil and gas, if any, taxable under
				AS
				43.55.011(e), other than gas
				subject to
				AS
				43.55.011(o), that the
				producer produces from leases or properties in the state that include land
				north of 68 degrees North latitude;
(B) all oil and gas, if any, taxable under
				AS
				43.55.011(e), other than gas
				subject to
				AS
				43.55.011(o) or oil or gas
				subject to
				AS
				43.55.011(p), that the
				producer produces from leases or properties in the state outside the Cook Inlet
				sedimentary basin no part of which is north of 68 degrees North latitude, for a
				calendar year before or during the last calendar year under
				AS
				43.55.024(b) for which the
				producer could take a tax credit under
				AS
				43.55.024(a);
(C) oil, if any, taxable under
				AS
				43.55.011(e) that the
				producer produces from each lease or property in the Cook Inlet sedimentary
				basin; for purposes of this paragraph, oil produced from each lease or property
				constitutes a separate segment;
(D)
				gas, if any, taxable under
				AS
				43.55.011(e) that the
				producer produces before 2022 from each lease or property in the Cook Inlet
				sedimentary basin; for purposes of this paragraph, gas produced from each lease
				or property constitutes a separate segment;
(E) gas, if any, taxable under
				AS
				43.55.011(e) that the
				producer produces from each lease or property in the state outside the Cook
				Inlet sedimentary basin and that is used in the state, other than gas subject
				to
				AS
				43.55.011(p); for purposes
				of this paragraph, gas produced from each lease or property constitutes a
				separate segment;
(F) all oil and
				gas if any, taxable under
				AS
				43.55.011(e) and subject to
				AS
				43.55.011(p) that the
				producer produces;
(G) all oil and
				gas, if any taxable under
				AS
				43.55.011(e) that the
				producer produces from leases or properties in the state no part of which is
				north of 68 degrees North latitude, other than oil or gas described in (B),
				(C), (D), (E), or (F) of this paragraph;