(a) A fisheries business is entitled to a credit of not more than five percent of the business tax liability under AS 43.75.015 for contributions made during the tax year to the A. W. "Winn" Brindle memorial education loan account (AS 14.43.250 ). A tax credit under this section may not be approved for more than 100 percent of an education loan contribution.
(b) The department may not approve a tax credit under this section if the fisheries business claiming the credit is in arrears in the payment of a fisheries business tax under AS 43.75.015 ; for purposes of this subsection, a taxpayer is not in arrears if the payment is under administrative or judicial appeal.
(c) The department shall prepare an application form for a credit under this section.
(d) The department shall approve or disapprove an application for a credit under this section not later than 60 days after receiving the application.
Section: Previous 43.75.011 43.75.015 43.75.017 43.75.018 43.75.019 43.75.020 43.75.030 43.75.032 43.75.034 43.75.035 43.75.036 43.75.050 43.75.055 43.75.060 NextLast modified: November 15, 2016