Alaska legislation · 34th Legislature
Alaska HB113: TAX EXEMPTION: SMALL BUSINESS
Status: In committee, March 10, 2025
An Act relating to a tax exemption for qualified small businesses; and providing for an effective date.
What the bill says
An act ENTITLED "An Act relating to a tax exemption for qualified small businesses; relating to the film production promotion program; creating a transferable tax credit applicable to certain film production expenditures incurred in the state; and providing for an effective date.".
From the engrossed text:
AN ACT ENTITLED "An Act relating to a tax exemption for qualified small businesses; relating to the film production promotion program; creating a transferable tax credit applicable to certain film production expenditures incurred in the state; and providing for an effective date." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: * Section 1. AS 43.20.012(a) is amended to read: (a) The tax imposed by this chapter does not apply to (1) an individual; (2) a fiduciary; (3) the income received by a regional association qualified under AS 16.10.380 or nonprofit corporation holding a hatchery permit under AS 16.10.400 from the sale of salmon or salmon eggs under AS 16.10.450 or from a cost recovery fishery under AS 16.10.455; [OR] (4) the income received by a nonprofit corporation holding a permit under AS 16.12.010 from the sale of shellfish under AS 16.12.080 or from a cost HB0113b -1- CSHB 113(L&C) New Text Underlined [DELETED TEXT BRACKETED] 34-LS0641\N recovery fishery under AS 16.12.090; or (5) an Alaska corporation that is a qualified small business and that meets the active business requirements in 26 U.S.C. 1202(e), as that subsection read on January 1, 2012, subject to the restrictions set out in (f) of this section. * Sec. 2. AS 43.20.012 is amended by adding new subsections to read: (e) For …
Sponsors
- Commerce, House Labor & (I) · primary sponsor
Latest actions
- : (H) REFERRED TO FINANCE
- : (H) FN1: (REV)
- : (H) AM: NELSON, SADDLER, COULOMBE
- : (H) DP: CARRICK, BURKE, HALL, FIELDS
- : (H) L&C RPT CS(L&C) NEW TITLE 4DP 3AM
- : (H) Minutes (HSTA)
- : (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120
- : (H) Minutes (HL&C)
- : (H) Moved CSHB 113(L&C) Out of Committee
- : (H) LABOR & COMMERCE at 03:15 PM BARNES 124
Subjects: BUSINESS, ECONOMIC DEVELOPMENT, TAXATION, FUNDS, CONSUMER AFFAIRS
Common questions
- What is HB113?
- HB113 is a bill in the Alaska Legislature (34th Legislature): TAX EXEMPTION: SMALL BUSINESS.
- What does HB113 do?
- In its own words: An act ENTITLED "An Act relating to a tax exemption for qualified small businesses; relating to the film production promotion program; creating a transferable tax credit applicable to certain film production expenditures incurred in the state; and providing for an effective date.".
- What is the status of HB113?
- In committee as of March 10, 2025. Latest action: (H) REFERRED TO FINANCE (March 10, 2025).
- Who sponsored HB113?
- Commerce, House Labor & (I).
- Where is the official record for HB113?
- On the Alaska Legislature website: https://www.akleg.gov/basis/Bill/Detail/34?Root=HB 113
Source: official Alaska record. Tracked by Delilah, AI for legislation across all 50 states and Congress.