State Corporate Income Tax Analysis
Proposed Amendment does not change:
AS 43.20.014. Income Tax Education Credit.
(a) For cash contributions accepted for direct instruction, research, and educational
support purposes, including library and museum acquisitions, and contributions to
endowment, by an Alaska university foundation or by a nonprofit, public or private,
Alaska two-year or four-year college accredited by a regional accreditation association, a
taxpayer is allowed as a credit against the tax due under this chapter
(1) 50 percent of contributions of not more than $100,000; and
(2) 100 percent of the next $100,000 of contributions.
(b) [Repealed, Sec. 12 ch 71 SLA 1991].
(c) Each public college and university shall include in its annual operating budget request
contributions received and how the contributions were used.
(d) A contribution claimed as a credit under this section may not
(1) be claimed as a credit under another provision of this title;
(2) also be allowed as a deduction under 26 U.S.C. 170 against the tax imposed by this
chapter; and
(3) when combined with credits taken during the taxpayer's tax year under AS 21.89.070,
21.89.075, AS 43.55.019, AS 43.56.018, AS 43.65.018, AS 43.75.018, or AS 43.77.045,
exceed $150,000.View entire presentation