00                             HOUSE BILL NO. 329                                                                          
01 "An Act amending the tax rates for taxes levied on corporations under the Alaska Net                                    
02 Income Tax Act; and providing for an effective 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 for each taxable year upon the entire taxable income of                                
06       every corporation derived from sources within the state a tax computed as follows:                                
07       If the taxable income is        Then the tax is:                                                                  
08       Less than $50,000 [$10,000]     1 percent of the taxable income                                               
09       [$10,000 BUT LESS THAN          $100 PLUS 2 PERCENT OF                                                            
10          $20,000                         THE TAXABLE INCOME                                                             
11                                          OVER $10,000                                                                   
12       $20,000 BUT LESS THAN $30,000   $300 PLUS 3 PERCENT OF                                                            
13                                          THE TAXABLE INCOME                                                             
14                                          OVER $20,000                                                                   
01       $30,000 BUT LESS THAN $40,000   $600 PLUS 4 PERCENT OF                                                            
02                                          THE TAXABLE INCOME                                                             
03                                          OVER $30,000                                                                   
04       $40,000 BUT LESS THAN $50,000   $1,000 PLUS 5 PERCENT OF                                                          
05                                          THE TAXABLE INCOME                                                             
06                                          OVER $40,000]                                                                  
07       $50,000 but less than $100,000  $500 [$1,500] plus 3 percent                                          
08          [$60,000]                       [6 PERCENT] of the taxable                                                     
09                                          income over $50,000                                                            
10       $100,000 [$60,000 BUT LESS THAN  $2,100 PLUS 7 PERCENT OF                                                     
11          $70,000                         THE TAXABLE INCOME                                                             
12                                          OVER $60,000                                                                   
13       $70,000 BUT LESS THAN $80,000   $2,800 PLUS 8 PERCENT OF                                                          
14                                          THE TAXABLE INCOME                                                             
15                                          OVER $70,000                                                                   
16       $80,000 BUT LESS THAN $90,000   $3,600 PLUS 9 PERCENT OF                                                          
17                                          THE TAXABLE INCOME                                                             
18                                          OVER $80,000                                                                   
19       $90,000] or more                $2,000 [$4,500] plus 6 percent                                            
20                                          [9.4 PERCENT] of the taxable                                                   
21                                          income over $100,000                                                       
22                                          [$90,000].                                                                     
23    * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to                          
24 read:                                                                                                                   
25       APPLICABILITY. Section 1 of this Act applies to tax years beginning after                                         
26 December 31, 2012.                                                                                                      
27    * Sec. 3.  This Act takes effect January 1, 2013.