# Alaska Stat. § 43.20.021: Internal Revenue Code adopted by reference

> Alaska · Statutes · Reserved

URL: https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.021

## Section

- **Citation:** Alaska Stat. § 43.20.021
- **Heading:** Internal Revenue Code adopted by reference
- **Jurisdiction:** Alaska
- **Kind:** Statutes
- **Status:** Reserved
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** AK Code / Title 43 / Chapter 43.20 / Section 43.20.021

## Text

(a) Sections 26 U.S.C. 1 — 1399 and 6001 — 7872 (Internal Revenue Code), as amended, are adopted by reference as a part of this chapter. These portions of the Internal Revenue Code have full force and effect under this chapter unless excepted to or modified by other provisions of this chapter.

(b) For purposes of calculating the federal tax payable on personal holding companies provided for in the provisions of 26 U.S.C. 541 (Internal Revenue Code), the rate is 12.6 percent.

(c) For purposes of calculating the alternative tax on capital gains provided for in the provisions of 26 U.S.C. 1201 (Internal Revenue Code), the rate is 4.5 percent for corporations.

(d) Where a credit allowed under the Internal Revenue Code is also allowed in computing Alaska income tax, it is limited to 18 percent for corporations of the amount of credit determined for federal income tax purposes which is attributable to Alaska. This limitation does not apply to a special industrial incentive tax credit under AS 43.20.042 .

(e) [Repealed, § 10 ch 1 SSSLA 1980.] (f) For the purpose of calculating the alternative minimum tax on tax preferences provided for in 26 U.S.C. 55 — 59 (Internal Revenue Code), the tax is 18 percent for corporations of the applicable alternative minimum federal tax.

(g) For purposes of calculating the accumulated earnings tax as provided in 26 U.S.C. 531 (Internal Revenue Code), the rate is 4.95 percent of the first $100,000 of accumulated taxable income and 6.93 percent of accumulated taxable income in excess of $100,000.

(h) Nothing in this chapter or in AS 43.19 (Multistate Tax Compact) may be construed as an exception to or modification of 26 U.S.C. 883.

(i) The provision in (h) of this section does not apply to commercial passenger vessels as defined in AS 43.52.295 .

(j) For purposes of calculating interest under the look-back method in 26 U.S.C. 460 (Internal Revenue Code), the rate of interest shall be as provided in that section.

## Nearby sections

- [Alaska Stat. § 43.20.011 Tax on corporations.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.011.md)
- [Alaska Stat. § 43.20.012 Limitation on application of chapter; credits.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.012.md)
- [Alaska Stat. § 43.20.013 Individual tax credits.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.013.md)
- [Alaska Stat. § 43.20.014 Income tax education credit. [See delayed repeal note.]](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.014.md)
- [Alaska Stat. § 43.20.021 Internal Revenue Code adopted by reference.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.021.md)
- [Alaska Stat. § 43.20.030 Returns and payment of taxes.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.030.md)
- [Alaska Stat. § 43.20.031 Deduction of taxes; consolidated returns; accounting methods.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.031.md)
- [Alaska Stat. § 43.20.036 Federal tax deductions and credits.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.036.md)
- [Alaska Stat. § 43.20.040 Income from sources in the state.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.040.md)
- [Alaska Stat. § 43.20.042 Special industrial incentive investment tax credits.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.042.md)
- [Alaska Stat. § 43.20.044 Exploration credits.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.044.md)
- [Alaska Stat. § 43.20.046 Gas storage facility tax credit.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.046.md)
- [Alaska Stat. § 43.20.047 Liquefied natural gas storage facility tax credit.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.047.md)
- [Alaska Stat. § 43.20.048 Veteran employment tax credit.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.048.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AK_T43_C43.20_S43.20.021. Check the current official text before relying on it. Not legal advice.