33-LS1356\A
HOUSE BILL NO. 331
IN THE LEGISLATURE OF THE STATE OF ALASKA
THIRTY-THIRD LEGISLATURE - SECOND SESSION
BY REPRESENTATIVE SUMNER BY REQUEST
Introduced: 2/15/24
Referred: Finance
A BILL
FOR AN ACT ENTITLED
1 "An Act relating to the rates of the tax on corporations; and providing for an effective
2 date."
3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
4 * Section 1. AS 43.20.011(e) is amended to read:
5 (e) There is imposed a tax for each taxable year on [UPON] the entire taxable
6 income of every corporation derived from sources within the state. The tax is [A TAX
7 COMPUTED AS FOLLOWS:
8 IF THE TAXABLE INCOME IS: THEN THE TAX IS:
9 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
HB0331a -1- HB 331
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1 OVER $49,000
2 $74,000 BUT LESS THAN $99,000 $1,230 PLUS 4 PERCENT OF
3 THE TAXABLE INCOME
4 OVER $74,000
5 $99,000 BUT LESS THAN $124,000 $2,230 PLUS 5 PERCENT OF
6 THE TAXABLE INCOME
7 OVER $99,000
8 $124,000 BUT LESS THAN $148,000 $3,480 PLUS 6 PERCENT OF
9 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.
HB 331 -2- HB0331a
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Statutes affected:
HB0331A, AM HB 331, introduced 02/15/2024: 43.20.011