AK HB167

Persons owning or operating commercial passenger vessels in Alaska are entitled to a corporation income tax credit for cash contributions to a qualified trade association that holds a Department of Commerce, Community, and Economic Development contract for destination tourism marketing.

Contributions must be made after June 30, 2009, and before January 1, 2015, to qualify for the credit.

The credit cannot exceed the difference between current tax liability under AS 43.20.011(e) with AS 43.20.021(h) and (i) and the tax liability as it existed on December 16, 2006.

Unused credits cannot be carried forward to subsequent calendar years, and credits cannot reduce total annual tax liability below zero.

The tax credit provision repeals on January 1, 2019.