(a) A person engaged in the business of mining in the state is allowed a credit against the tax due under this chapter for cash contributions accepted
(1) for direct instruction, research, and educational support purposes, including library and museum acquisitions, and contributions to endowment, by an Alaska university foundation or by a nonprofit, public or private, Alaska two-year or four-year college accredited by a regional accreditation association;
(2) for secondary school level vocational education courses and programs by a school district in the state; and
(3) by a state-operated vocational technical education and training school.
(b) The amount of the credit is
(1) 50 percent of contributions of not more than $100,000; and
(2) 100 percent of the next $100,000 of contributions.
(c) Each public college and university shall include in its annual operating budget request contributions received and how the contributions were used.
(d) A contribution claimed as a credit under this section may not
(1) be claimed as a credit under another provision of this title; and
(2) when combined with credits taken during the taxpayer's tax year under AS 21.89.070
, 21.89.075, AS 43.20.014
, AS 43.55.019
, AS 43.56.018, AS 43.75.018
, or AS 43.77.045
, exceed $150,000.
(e) In this section,
(1) "school district" has the meaning given in AS 14.03.126
;
(2) "vocational education" has the meaning given in AS 43.20.014
.
(a) A person engaged in the business of mining in the state is allowed a credit against the tax due under this chapter for cash contributions accepted
(1) for direct instruction, research, and educational support purposes, including library and museum acquisitions, and contributions to endowment, by an Alaska university foundation or by a nonprofit, public or private, Alaska two-year or four-year college accredited by a regional accreditation association;
(2) for secondary school level vocational education courses and programs by a school district in the state; and
(3) by a state-operated vocational technical education and training school.
(b) The amount of the credit is
(1) 50 percent of contributions of not more than $100,000; and
(2) 100 percent of the next $100,000 of contributions.
(c) Each public college and university shall include in its annual operating budget request contributions received and how the contributions were used.
(d) A contribution claimed as a credit under this section may not
(1) be claimed as a credit under another provision of this title; and
(2) when combined with credits taken during the taxpayer's tax year under AS 21.89.070
, 21.89.075, AS 43.20.014
, AS 43.55.019
, AS 43.56.018, AS 43.75.018
, or AS 43.77.045
, exceed $150,000.
(e) In this section,
(1) "school district" has the meaning given in AS 14.03.126
;
(2) "vocational education" has the meaning given in AS 43.20.014
.
(a) A person engaged in the business of mining in the state is allowed a credit against the tax due under this chapter for cash contributions accepted
(1) for direct instruction, research, and educational support purposes, including library and museum acquisitions, and contributions to endowment, by an Alaska university foundation or by a nonprofit, public or private, Alaska two-year or four-year college accredited by a regional accreditation association;
(2) for secondary school level vocational education courses and programs by a school district in the state; and
(3) by a state-operated vocational technical education and training school.
(b) The amount of the credit is
(1) 50 percent of contributions of not more than $100,000; and
(2) 100 percent of the next $100,000 of contributions.
(c) Each public college and university shall include in its annual operating budget request contributions received and how the contributions were used.
(d) A contribution claimed as a credit under this section may not
(1) be claimed as a credit under another provision of this title; and
(2) when combined with credits taken during the taxpayer's tax year under AS 21.89.070
, 21.89.075, AS 43.20.014
, AS 43.55.019
, AS 43.56.018, AS 43.75.018
, or AS 43.77.045
, exceed $150,000.
(e) In this section,
(1) "school district" has the meaning given in AS 14.03.126
;
(2) "vocational education" has the meaning given in AS 43.20.014
.
