AK SB64

Establishes a 20 percent tax credit for qualified research and development expenditures attributable to Alaska, with a maximum credit of $10 million per year.

Credit applies to research conducted in Alaska or payroll of employees conducting research in Alaska, where compensation is reported to the Department of Labor and Workforce Development.

Unused tax credits may be carried forward for up to seven years, with earlier-year credits applied first against tax liability.

Taxpayers cannot claim the credit for expenditures already deducted under AS 43.20.011(e) or for which any other credit, including federal credits, has been claimed.

Department must annually report taxpayer names claiming credits, total cumulative credits granted, and number of employees conducting research; taxpayers claiming the credit consent to public disclosure of their names and credit amounts.