An Act relating to the Multistate Tax Compact; relating to apportionment of income to the state, including the apportionment of income of broadcasters, financial institutions, and telecommunications service providers; and providing for an effective date.
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Progress
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- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill updates Alaska’s participation in the Multistate Tax Compact, which aims to simplify how businesses with income in multiple states determine their state tax obligations. Specifically, it clarifies how income from broadcasters, financial institutions, and telecommunications service providers is apportioned to Alaska. The bill also provides a mechanism for states to elect to follow the compact’s rules or to determine income apportionment independently, and it addresses use and sales taxes within the compact framework.
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