Alaska § 43.20.021 - Internal Revenue Code adopted by reference.
Full text of Alaska Alaska Statutes § 43.20.021 — Internal Revenue Code adopted by reference., with citation guidance and answers to common questions.
§ 43.20.021. Internal Revenue Code adopted by reference.
(a) Sections 26 U.S.C. 1 — 1399 and 6001 — 7872 (Internal Revenue Code), as amended, are adopted by reference as a part of this chapter. These portions of the Internal Revenue Code have full force and effect under this chapter unless excepted to or modified by other provisions of this chapter.
(b) For purposes of calculating the federal tax payable on personal holding companies provided for in the provisions of 26 U.S.C. 541 (Internal Revenue Code), the rate is 12.6 percent.
(c) For purposes of calculating the alternative tax on capital gains provided for in the provisions of 26 U.S.C. 1201 (Internal Revenue Code), the rate is 4.5 percent for corporations.
(d) Where a credit allowed under the Internal Revenue Code is also allowed in computing Alaska income tax, it is limited to 18 percent for corporations of the amount of credit determined for federal income tax purposes which is attributable to Alaska. This limitation does not apply to a special industrial incentive tax credit under AS 43.20.042 .
(e) [Repealed, § 10 ch 1 SSSLA 1980.] (f) For the purpose of calculating the alternative minimum tax on tax preferences provided for in 26 U.S.C. 55 — 59 (Internal Revenue Code), the tax is 18 percent for corporations of the applicable alternative minimum federal tax.
(g) For purposes of calculating the accumulated earnings tax as provided in 26 U.S.C. 531 (Internal Revenue Code), the rate is 4.95 percent of the first $100,000 of accumulated taxable income and 6.93 percent of accumulated taxable income in excess of $100,000.
(h) Nothing in this chapter or in AS 43.19 (Multistate Tax Compact) may be construed as an exception to or modification of 26 U.S.C. 883.
(i) The provision in (h) of this section does not apply to commercial passenger vessels as defined in AS 43.52.295 .
(j) For purposes of calculating interest under the look-back method in 26 U.S.C. 460 (Internal Revenue Code), the rate of interest shall be as provided in that section.
Frequently Asked Questions About Alaska § 43.20.021
What does Alaska Statutes § 43.20.021 cover?
Section 43.20.021 ("Internal Revenue Code adopted by reference.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 43.20.021?
A common citation format is "Alaska Statutes § 43.20.021" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 43.20.021 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.