AK SB135

Requires all taxpayers to submit tax returns and reports to the Department of Revenue electronically in a department-prescribed format, with exemptions available for those lacking capability.

Imposes a penalty of $25 or 1% of total tax (whichever is greater) on taxpayers who fail to file electronically without an approved exemption or reasonable cause.

Increases fisheries business tax rates: canned salmon from 4% to 5.5%, other shore-based salmon from 3% to 4%, floating fisheries from 5% to 6%, and developing species from 3% to 4% for floating operations.

Increases fishery resource landing tax rates from 3% to 4% for non-developing commercial fish species, while maintaining 1% rate for developing species.

Clarifies that one percent of fishery tax revenue goes to the general fund, with the remaining revenue distributed to municipalities and boroughs at specified percentages.