AK SB100

Creates a new 5% individual income tax on resident individuals and nonresident individuals earning income from Alaska sources, based on federal adjusted gross income.

Requires employers to withhold estimated tax from wages and salaries, with tax remittance to the Department of Revenue at times specified by regulation.

Allows residents a tax credit for income taxes paid to other states on income also subject to Alaska taxation, subject to specified limitations.

Establishes tax return filing requirements aligned with federal Internal Revenue Code provisions, with returns due at the same time as federal returns.

Takes effect January 1, 2022, with the Department of Revenue authorized to adopt necessary implementing regulations.