Taxes: Film; Small Corp; Oil & Gas
“An Act exempting certain small businesses from the corporate income tax; relating to transferable film production tax credits and film production tax credit certificates; relating to the taxes against which a film production tax credit may be applied; transferring the film office to the Department of Revenue and relating to that office; establishing the Alaska Film Incentive Review Commission; establishing a film production promotion program; relating to the amount of credit that may be awarded for compensation to producers, directors, writers, and actors who are not residents; conducting seismic exploration and drilling certain oil or natural gas exploration wells in certain basins; relating to the determination of the production tax value of oil and gas production; providing that the tax rate for new oil or gas production south of 68 degrees North latitude and outside of the Cook Inlet sedimentary basin may not exceed four percent of the gross value at the point of production; providing for an effective date by repealing the effective dates of secs. 3 and 4, ch. 63, SLA 2008; and providing for an effective date.”
Posted: February 27, 2012 : v27-LS1085-B
House Bill 252 seeks to encourage the development of high-growth technology and research companies in Alaska, improve Alaska's business climate, promote the diversification of Alaska's economy, and encourage entrepreneurship and the development of Alaska's venture capital investment sector. It would also enhance Alaskan entrepreneurs' ability to remain in Alaska to start their businesses and raise their families here at home.
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