Instructions For Alaska Fisheries Business Tax Return

1999 Alaska Fisheries Business Tax Return

Page _____ of _____

Examples of those required to file include canneries,

Additional Payments or Bonuses

cold storages, custom processors, commercial fishers

Additional payments made after the calendar year in which

who process their catch, freezerships, and processing

fisheries resources purchased are taxable under AS 43.75. If

plants.

your company makes additional payments after you have

filed your fisheries business return, then you must complete

Return Filing and Payment Information

and submit Form 04-585 (Fisheries Business Tax Return of

Return and payment are due March 31, 2000. Make

Bonus or Other Additional Payments) along with the tax due,

checks payable to the State of Alaska. Mail return and

no later than the last day of the month following the month in

payment to:

which the payments were made. If you make additional

Alaska Department of Revenue

payments before filing your fisheries business return, then

Income and Excise Audit Division

you should include those payments as part of the values

PO Box 110420

reported on your return.

Juneau, AK 99811-0420

The Department of Revenue offers electronic funds

Definitions

transfer through the Alaska State Automated Payment.

Processing means any activity which modifies the physical

Information and forms are available on our website at

condition of a fisheries resource, including butchering,

freezing, salting, cooking, canning, dehydrating, or smoking.

Processing does not include decapitating shrimp, and gutting,

Wire Transfer Requirement

gilling, sliming, or icing a fisheries resource solely for the

If your company has more than one license and your

purpose of maintaining the quality of the fresh resource.

aggregate tax payment (including seafood marketing

Value , as defined by statutes, means:

assessment) is greater than $150,000, you must wire

transfer the funds.

The market value of the fisheries resource if taking of

the fisheries resource is done in company-owned or

The day before the wire transfer is due, you must

company-subsidized boats operated by employees of the

notify the Department of Revenue, Treasury Division,

company or in boats that are operated under lease to or

by Fax 907.465.4019 or telephone 907.465.2360 of

from the company or other arrangement with the

the dollar amount and the type of tax to be paid.

company and if the fisheries resource is delivered to the

company.

Instruct your bank to initiate the wire transfer of

federal funds through the Federal Reserve wire

For fisheries resources other than those described above,

transfer system to the credit of the State of Alaska

the actual price paid for the fisheries resource by the

Investment Account at the following address:

fisheries business to the fisher, including indirect

State Street Bank & Trust Company

consideration and bonus amounts paid for fuel, supplies,

Boston, Massachusetts

gear, ice, handling, tender fees, or delivery, whether paid

ABA #011000028

at the time of purchase of the fisheries resource or

For credit to the State of Alaska

tendered as a deferred or delayed payment.

General Investment Fund, AY01

Account #00657189

Extension for Filing Return

ATTN: Kim Chan, Public Funds

If you need an extension for filing your return, contact the

Instruct your bank to indicate your Federal EIN and

Alaska Department of Revenue. An application for

note that the payment is for fisheries business tax.

extension must be submitted to the department no later

than 15 calendar days before the return is due. Note: an

Penalties for Failure to File or Pay

extension of time to file is not an extension of time to pay

A penalty will be assessed for failure to timely file the

taxes. You must remit full tax payment by the March 31

return or failure to timely pay the tax. Both penalties

due date.

will be computed at 5% per 30-day period or fraction

of a period up to a maximum of 25% on the tax not

Additional Forms

paid by the payment due date.

You may reproduce or photocopy the forms in this

booklet as needed, or request additional forms from our

Commercial Fishers

help desk at the address below. Forms are also available

Refer to Form 04-584 (Tax Exclusion) to determine if

on our home page at

you qualify for an exclusion from the fisheries business

tax. If you do not qualify for the exclusion on all of the

Help Desk

resources you processed, or if you sold or transported

Contact our help desk at the address on the tax return or

unprocessed resources outside of Alaska's taxing

telephone 907.465.3775 or fax 907.465.2375. Our

jurisdiction, you will also need to file Form 04-574 and

e-mail address is fish_excise@revenue.state.ak.us

schedules 1-7 that are applicable to your activities,

and pay the tax on those resources.

Form 04-574 (Rev 11/99) Instructions

Page 2

Instructions For Alaska Fisheries Business Tax Return - 1999 Page 2

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