Bill > SB122

This bill: - Amends the Multistate Tax Compact as adopted in Alaska law to modify the apportionment of income for certain businesses, including water transportation carriers, oil and gas producers and pipeline operators, and highly digitized businesses. - For highly digitized businesses, the bill requires that 50% or more of the taxpayer's sales in Alaska consist of intangible property delivered by electronic transmission, services delivered electronically, or tangible personal property delivered from Internet sales, and sets the apportionment factor as the sales factor. - The bill allows the Department of Revenue to require a taxpayer to apportion income under the highly digitized business provision if the department determines the taxpayer's business activity in Alaska may be characterized as highly digitized. - The bill applies the highly digitized business tax apportionment provisions to tax years beginning on or after January 1, 2024.