HB 331: "An Act relating to the rates of the tax on corporations; and providing for an effective date."
00 HOUSE BILL NO. 331 01 "An Act relating to the rates of the tax on corporations; and providing for an effective 02 date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 43.20.011(e) is amended to read: 05 (e) There is imposed a tax for each taxable year on [UPON] the entire taxable 06 income of every corporation derived from sources within the state. The tax is [A TAX 07 COMPUTED AS FOLLOWS: 08 IF THE TAXABLE INCOME IS: THEN THE TAX IS: 09 LESS THAN $25,000 ZERO 10 $25,000 BUT LESS THAN $49,000 2 PERCENT OF 11 THE TAXABLE INCOME 12 OVER $25,000 13 $49,000 BUT LESS THAN $74,000 $480 PLUS 3 PERCENT OF 14 THE TAXABLE INCOME
01 OVER $49,000 02 $74,000 BUT LESS THAN $99,000 $1,230 PLUS 4 PERCENT OF 03 THE TAXABLE INCOME 04 OVER $74,000 05 $99,000 BUT LESS THAN $124,000 $2,230 PLUS 5 PERCENT OF 06 THE TAXABLE INCOME 07 OVER $99,000 08 $124,000 BUT LESS THAN $148,000 $3,480 PLUS 6 PERCENT OF 09 THE TAXABLE INCOME 10 OVER $124,000 11 $148,000 BUT LESS THAN $173,000 $4,920 PLUS 7 PERCENT OF 12 THE TAXABLE INCOME 13 OVER $148,000 14 $173,000 BUT LESS THAN $198,000 $6,670 PLUS 8 PERCENT OF 15 THE TAXABLE INCOME 16 OVER $173,000 17 $198,000 BUT LESS THAN $222,000 $8,670 PLUS 9 PERCENT OF 18 THE TAXABLE INCOME 19 OVER $198,000 20 $222,000 OR MORE $10,830 PLUS] 9.4 percent of the 21 taxable income over $15,000,000 [$222,000]. 22 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to 23 read: 24 APPLICABILITY. AS 43.20.011(e), as amended by sec. 1 of this Act, applies to 25 taxable income earned on or after the effective date of this Act. 26 * Sec. 3. This Act takes effect July 1, 2024.