Alaska SB130 establishes a tax credit for fisheries businesses investing in equipment to improve fish product quality and value.

Alaska SB130 amends the state tax code to create a fisheries product development tax credit. This credit applies to investments in equipment used to increase the quality and value of eligible fish or produce value-added fish products. Eligible equipment includes items used for filleting, skinning, portioning, and packaging fish, among other functions. The credit cannot exceed 50% of the taxpayer's tax liability for processing eligible fish and is not available for property placed into service after December 31, 2026.

Alaska SB130 establishes a tax credit for fisheries businesses investing in equipment to improve fish product quality and value.

Alaska SB130 amends the state tax code to create a fisheries product development tax credit. This credit applies to investments in equipment used to increase the quality and value of eligible fish or produce value-added fish products. Eligible equipment includes items used for filleting, skinning, portioning, and packaging fish, among other functions. The credit cannot exceed 50% of the taxpayer's tax liability for processing eligible fish and is not available for property placed into service after December 31, 2026.