AK HB251

Requires taxpayers to submit tax returns and reports electronically to the Department of Revenue in a format prescribed by the department, with exemptions available for those lacking electronic capability; failure to comply results in a civil penalty of $25 or 1% of total tax, whichever is greater.

Increases fisheries business tax rates: shore-based salmon processing increases from 3% to 4%, floating fisheries business resources increase from 5% to 6%, and developing commercial fish species increase from 1% to 4% for both shore-based and floating businesses.

Increases fisheries resource landing tax rates: developing commercial fish species increase from 1% to 4%, and other fish species increase from 3% to 4%.

Establishes an Alaska seafood marketing fund by depositing 0.5% of the value of certain fisheries taxes into a separate account for appropriation to the Alaska Seafood Marketing Institute.

Requires fisheries business tax returns to be submitted electronically to the department before April 1, and clarifies that 0.5% of tax revenue is deposited into the general fund before calculating refunds to local governments.