AK SB138

Creates a corporation income tax credit for owners or operators of commercial passenger vessels who make cash contributions to qualified trade associations contracted by the Department of Commerce, Community, and Economic Development for destination tourism marketing campaigns.

Contributions must be used solely for the destination tourism marketing campaign and cannot provide the contributing person with direct or tangible benefits.

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

Unused credits cannot reduce total tax liability below zero for a calendar year and cannot be carried forward to subsequent years.

Applies to cash contributions accepted and used after June 30, 2009.