AK HB214

Establishes a 1% income tax on resident individuals and taxable nonresident income in Alaska, effective January 1, 2022.

Provides standard deductions of $15,000 for individual residents and $30,000 for joint filers; nonresident deductions are prorated based on Alaska-source income.

Allows resident and part-year resident individuals to claim credits for income taxes paid to other states or political subdivisions, subject to specified limitations.

Defines "resident individual" based on permanent fund dividend receipt, state domicile status, or tax benefits available only to state domiciles, with consideration of factors like employment location, property ownership, and voter registration.

Incorporates federal Internal Revenue Code sections and rules by reference for tax administration, penalties, and withholding requirements; requires employers to withhold and remit tax on employee wages.