00                           SENATE BILL NO. 7 am                                                                         
01 "An Act relating to the computation of the tax on the taxable income of a corporation                                   
02 derived from sources within the state."                                                                                 
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 $25,000 [$10,000]     zero [1 PERCENT OF THE                                                    
09                                          TAXABLE INCOME]                                                                
10       $25,000 [$10,000] but less than  $250 [$100] plus 2 percent of the                                        
11          $49,000 [$20,000]                taxable income over $25,000                                           
12                                          [$10,000]                                                                      
13       $49,000 [$20,000] but less than  $730 [$300] plus 3 percent of the                                        
14          $74,000 [$30,000]                taxable income over $49,000                                           

01                                          [$20,000]                                                                      
02       $74,000 [$30,000] but less than  $1,480 [$600] plus 4 percent of the                                      
03          $99,000 [$40,000]               taxable income over $74,000                                            
04                                          [$30,000]                                                                      
05       $99,000 [$40,000] but less than  $2,480 [$1,000] plus 5 percent of the                                    
06          $124,000 [$50,000]              taxable income over $99,000                                            
07                                          [$40,000]                                                                      
08       $124,000 [$50,000] but less than  $3,730 [$1,500] plus 6 percent of the                                   
09          $148,000 [$60,000]              taxable income over $124,000                                           
10                                          [$50,000]                                                                      
11       $148,000 [$60,000] but less than  $5,170 [$2,100] plus 7 percent of the                                   
12          $173,000 [$70,000]              taxable income over $148,000                                           
13                                          [$60,000]                                                                      
14       $173,000 [$70,000] but less than  $6,920 [$2,800] plus 8 percent of the                                   
15          $198,000 [$80,000]              taxable income over $173,000                                           
16                                          [$70,000]                                                                      
17       $198,000 [$80,000] but less than  $8,920 [$3,600] plus 9 percent of the                                   
18          $222,000 [$90,000]              taxable income over $198,000                                           
19                                          [$80,000]                                                                      
20       $222,000 [$90,000] or more      $11,080 [$4,500] plus 9.4 percent of                                      
21                                          the taxable income over $222,000                                           
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. AS 43.20.011(e), as amended by sec. 1 of this Act, applies to the                                  
26 taxable income of a corporation derived from sources within the state during a taxable year                             
27 that begins on or after the effective date of this Act.