Alaska Statutes
Article 1. Persons Subject to Tax; Returns and Payment; Credits.
Sec. 43.20.012. Limitation on application of chapter; credits.

(a) [See delayed amendment note.] The tax imposed by this chapter does not
(1) apply to an individual;
(2) apply to a fiduciary;
(3) for a tax year beginning after December 31, 2012, apply to an Alaska corporation that is a qualified small business and that meets the active business requirement in 26 U.S.C. 1202(e) as that subsection read on January 1, 2012;
(4) for a tax year beginning after June 30, 2007, apply to the income received by a regional association qualified under AS 16.10.380 or nonprofit corporation holding a hatchery permit under AS 16.10.400 from the sale of salmon or salmon eggs under AS 16.10.450 or from a cost recovery fishery under AS 16.10.455; or
(5) apply to income received by a nonprofit corporation holding a permit under AS 16.12.010 from the sale of shellfish under AS 16.12.080 or from a cost recovery fishery under AS 16.12.090.
(b) An individual may file a return under this chapter in order to receive a tax credit under AS 43.20.013.
(c) [See delayed repeal note.] For the purposes of (a)(3) of this section,
(1) whether a corporation qualifies under (a)(3) of this section shall be determined on the first day of the tax year for which the corporation claims it qualifies under (a)(3) of this section;
(2) all corporations that are members of the same parent-subsidiary controlled group shall be treated as one corporation.
(d) [See delayed repeal note.] In this section,
(1) “Alaska corporation” means a corporation that has been incorporated in the state or is authorized to do business in the state;
(2) “parent-subsidiary controlled group” has the meaning given in 26 U.S.C. 1202 as that section read on January 1, 2012;
(3) “qualified small business” has the meaning given in 26 U.S.C. 1202 as that section read on January 1, 2012, and does not include a construction, transportation, utility, or fisheries business.