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.