AK HB156

Establishes a new 2% individual income tax on residents, nonresidents, trusts, and estates with taxable income exceeding $200,000, effective January 1, 2025.

Imposes an additional $20 annual tax on individuals with wages, net earnings from self-employment, or combined wages and net earnings from self-employment in the state.

Applies tax to nonresident individuals on income derived from or connected with an Alaska source, including wages, business income, real property transactions, and other specified income sources.

Allows tax credits for income taxes imposed by other states and provides for permanent fund dividend withholding as a payment method for the tax.

Repeals prior tax credit provisions and tax statutes, with the income tax becoming effective January 1, 2025 for income received on or after that date.