AK HB182

Creates a new individual income tax in Alaska consisting of 15% of federal income tax owed on Alaska-source income plus a tax on long-term capital gains at the lesser of 10% or the difference between the taxpayer's incremental federal tax rate on ordinary income and federal rate on capital gains.

Applies to both resident and nonresident individuals with income from sources in Alaska, including wages, business income, rental income, and investment income with Alaska business situs.

Requires employers to withhold income tax from wages, salaries, and crew shares in commercial fishing and remit withheld amounts to the department.

Repeals prior Alaska Net Income Tax Act tax credits under AS 43.05.085, AS 43.20.012(b), and AS 43.20.013.

Takes effect January 1, 2016, and applies to income received on or after that date.