Alaska SB200 modifies farm use land assessment requirements for municipal taxes.
The bill amends Alaska's tax code to adjust the process for assessing farm use land for municipal taxes. Owners must apply annually by May 15, providing details from their Internal Revenue Service Schedule F (Form 1040). The definition of "farm use" excludes marijuana production. Livestock includes various animals. S corporations must submit Schedule F information to the assessor. The bill takes effect immediately.
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