Alaska legislation · 34th Legislature
Alaska HB350: QUALIFIED ENTITY INCOME TAX
Status: In committee, April 30, 2026
An Act establishing an income tax on certain entities in the state; and providing for an effective date.
What the bill says
An act ENTITLED "An Act establishing an income tax on certain entities in the state; and providing for an effective date.".
From the engrossed text:
AN ACT ENTITLED "An Act establishing an income tax on certain entities 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 is amended by adding a new section to read: Sec. 43.20.019. Tax on income attributable to a qualified entity. (a) If a qualified entity has taxable income over $25,000,000 in a tax year, the qualified entity shall pay a tax of 9.4 percent on the taxable income over $25,000,000. (b) For purposes of calculating taxable income under this section, (1) taxable income of a qualified entity is determined under AS 43.20.144 as if the qualified entity were taxable as a C corporation, as defined by 26 U.S.C. 1361(a)(2) (Internal Revenue Code), as that section read on January 1, 2026; (2) notwithstanding AS 43.20.021 and AS 43.20.036, the taxpayer may not apply as a credit or deduction against tax liability a credit or deduction allowed as HB0350b -1- CSHB 350(L&C) New Text Underlined [DELETED TEXT BRACKETED] 34-LS1474\H to federal taxes under 26 U.S.C. (Internal Revenue Code), except that the taxpayer may take a credit or deduction allowed for a C corporation under (1) of this subsection. (c) The tax under this section does not apply to a corporation subject to tax under AS 43.20.011 …
Sponsors
- Zack Fields (D, HD-020) · primary sponsor
- Carolyn Hall (D, HD-016)
Latest actions
- : (H) REFERRED TO FINANCE
- : (H) FN1: (REV)
- : (H) NR: FRIER
- : (H) DNP: COULOMBE, SADDLER
- : (H) DP: CARRICK, HALL, FIELDS
- : (H) L&C RPT CS(L&C) 3DP 2DNP 1NR
- : (H) Moved CSHB 350(L&C) Out of Committee -- Delayed to 5 min. Following Session --
- : (H) LABOR & COMMERCE at 03:15 PM BARNES 124
- : (H) COSPONSOR(S): HALL
- : (H) Heard & Held
Subjects: BUSINESS, REVENUE, CORPORATIONS, TAXATION
Common questions
- What is HB350?
- HB350 is a bill in the Alaska Legislature (34th Legislature): QUALIFIED ENTITY INCOME TAX.
- What does HB350 do?
- In its own words: An act ENTITLED "An Act establishing an income tax on certain entities in the state; and providing for an effective date.".
- What is the status of HB350?
- In committee as of April 30, 2026. Latest action: (H) REFERRED TO FINANCE (April 30, 2026).
- Who sponsored HB350?
- Zack Fields (D, HD-020), with 1 co-sponsor.
- Where is the official record for HB350?
- On the Alaska Legislature website: https://www.akleg.gov/basis/Bill/Detail/34?Root=HB 350
Source: official Alaska record. Tracked by Delilah, AI for legislation across all 50 states and Congress.