Alaska Administrative Code › Title 15 - Revenue › Chapter 20 - Alaska Net Income Tax › Article 6 - Corporate Net Income Tax; Special Rules for Financial Organizations and for Other Taxpayers with Tax-exempt Income › 15 AAC 20.610 - Apportionment factors for financial organizations

Current through May 31, 2024
(a) The denominator
				of the property factor is the average value of all of the taxpayer's real and
				tangible personal property owned or rented and used during the tax year, as
				defined in
				AS
				43.19.010 (Art. IV, secs. 10 - 12),
				15 AAC 19.141,
				15 AAC 19.151, and
				15 AAC 19.181 -
				15 AAC 19.202. In addition, the
				denominator of the property factor must include the average monthly total of
				the taxpayer's loans receivable, accounts receivable, and assets having the
				nature of loans or accounts receivable.
(b) The numerator of the property factor is
				the average value of the taxpayer's real and tangible personal property owned
				or rented and used in this state during the tax year, as defined in
				AS
				43.19.010 (Art. IV, secs. 10 - 12) and
				15 AAC 19.171. In addition, the
				numerator of the property factor must include the average monthly total of the
				taxpayer's loans receivable, accounts receivable, and assets having the nature
				of loans and accounts receivable, sourced to Alaska.
(c) For purposes of this section, tangible
				property, including property leased to or from other parties, is located in
				Alaska and must be attributed to the state if it is physically situated in the
				state during the taxable period. If the property is mobile property such as
				motor vehicles, rolling stock, aircraft and vessels, its value must be
				determined in accordance with
				AS
				43.20.143 and
				15 AAC 19.171(c).
				The value of mobile property other than land transportation equipment, aircraft
				and vessels must be determined by using the ratio of time spent in the state
				during the taxable period to time spent in all taxing jurisdictions.
(d) The denominator of the payroll factor is
				the total compensation paid everywhere by the taxpayer during the tax period,
				as defined in
				AS
				43.19.010 (Art. IV, secs. 13 and 14),
				15 AAC 19.211, and
				15 AAC 19.221.
(e) The numerator of the payroll factor is
				the total amount paid by the taxpayer during the tax period for compensation in
				the state, as defined in
				AS
				43.19.010 (Art. IV, sec. 14),
				15 AAC 19.231, and
				15 AAC 19.241.
(f) The denominator of the sales factor
				includes all receipts derived from transactions and activities in the course of
				the taxpayer's business as defined in
				AS
				43.19.010 (Art. IV, secs. 15 - 17),
				15 AAC 19.251,
				15 AAC 19.261 and
				15 AAC 19.302, but excludes
				tax-exempt income.
(g) The
				numerator of the sales factor includes all receipts derived from transactions
				and activities in the course of the taxpayer's business in the state, as
				defined in
				AS
				43.19.010 (Art. IV, secs. 16 and 17) and
				15 AAC 19.271 -
				15 AAC 19.302, but excludes
				tax-exempt income. The numerator of the sales factor must include
(1) interest, fees, charges, rents, and
				compensation for services performed when these amounts are derived from loans
				or assets in the nature of loans sourced to Alaska;
(2) gross receipts from services, including
				trustee, fiduciary, checking account, and bill-paying services, and gross
				receipts from the use of facilities, including safe deposit box and cash
				machine transaction fees, if the service is performed in Alaska or if the
				facility is located in Alaska; if the service is performed partly inside and
				partly outside the state, the gross receipts that are attributed to Alaska must
				be determined by the ratio that the time spent in performing the service in the
				state bears to the total time spent in performing the service
				everywhere;
(3) receipts from other
				securities and investments, if the securities and investments are managed from
				a location in the state;
(4)
				receipts, including fees and charges, from the issuance of traveler's checks
				and other negotiable instruments if the negotiable instruments are sold or
				issued in Alaska;
(5) gross
				receipts from the operation or management of repossessed real property located
				in Alaska and personal property if the property is sourced to Alaska.