Alaska HB280 amends the Multistate Tax Compact to adjust income apportionment for highly digitized businesses and other taxpayers.

Alaska HB280 amends the Multistate Tax Compact to adjust the apportionment of income for businesses engaged in highly digitized activities. The bill specifies that businesses with 50% or more of their sales in Alaska consisting of electronic transmissions must apportion their income based on a new formula. The bill also allows taxpayers to elect to apportion their income under state law or the Multistate Tax Compact. Additionally, the bill modifies the apportionment factors for certain businesses engaged in oil and gas production or transportation.

Alaska HB280 amends the Multistate Tax Compact to adjust income apportionment for highly digitized businesses and other taxpayers.

Alaska HB280 amends the Multistate Tax Compact to adjust the apportionment of income for businesses engaged in highly digitized activities. The bill specifies that businesses with 50% or more of their sales in Alaska consisting of electronic transmissions must apportion their income based on a new formula. The bill also allows taxpayers to elect to apportion their income under state law or the Multistate Tax Compact. Additionally, the bill modifies the apportionment factors for certain businesses engaged in oil and gas production or transportation.