Form 04-611 Instructions - Corporation Net Income Tax Return - Alaska Department Of Revenue
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8I N S T R U C T I O N S
CONTENTS
Schedule E - Other Taxes
6
Principle Business Codes. The Standard
Industrial Code system (SIC) has been
If You Need Help
1
replaced by the six digit North American
Schedule H - Computation of Alaska Income
Internet Home Page
1
Line 1, Federal Taxable Income
6
Industry Classification System (NAICS)
Changes This Year
1
Line 2, Affiliated Taxpayers
7
for federal and Alaska reporting purposes.
Avoid Common Mistakes
2
Line 10, Income Allocated to Alaska
7
Report your six digit NAICS code from
Line 11, Alaska Items
7
your Form 1120, Schedule K line 2a on
GENERAL INSTRUCTIONS
page one of your Alaska return.
Schedule I - Apportionment Factor
7
I. Basic Filing Procedures
Property Factor
7
Law Changes.
Alaska income tax
Who Must File
2
Payroll Factor
7
regulations Chapter 15 AAC 20 underwent
Which Form to Use
2
Sales Factor
7
significant changes during 1998.
The
Affiliated Group Defined
2
changes relevant to corporate taxpayers
Small Business Corporation
Schedule J, Alaska Capital and Section 1231
other than Oil and Gas Corporations are
(S Corporation)
2
Gains and Losses
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outlined below and in the body of these
Partnership
3
instructions.
Limited Liability Company (LLC)
3
Schedule K, Alaska Charitable Contribution
Inactive Corporation
3
Deduction
8
Consolidated Returns.
Consolidated
Exempt Organization
3
filing is available to, or required of, more
Water’s Edge Filing
3
Schedule L, Alaska Dividends-Received
taxpayers beginning in 1998. Two or more
Filing a Consolidated Return
3
taxpayers that are part of the same unitary
Deduction (DRD)
8
Attachment of Federal Return
3
business are required to file a consolidated
Alaska return if they also join in the filing
Short Form 04-611 SF
II. Water’s Edge Combined Reports
of a consolidated federal return.
Other
Return Data
8
Combined Report
3
taxpayers that are part of the same unitary
Water’s Edge Method of Reporting
3
business may, or may be required to, file a
Schedule A - SF
Unitary Group or Unitary Business
4
Credits
8
consolidated Alaska return. Corporations
Allocation and Apportionment of Income
4
organized outside of the United States also
Alaska Education Credit
8
Preparing a Consolidated Return
4
may, or may be required to, file a
Combined Affiliates Having Different
consolidated Alaska return with domestic
Schedule B - SF
8
Accounting Periods
4
or other foreign taxpayers of the unitary
group. Refer to the detailed discussion of
IF YOU NEED HELP
III. Other General Instructions
consolidated returns at page 4. Taxpayers
If you have questions not addressed in these
Return Due Date
4
using combined reporting should obtain a
instructions, need additional information, or require
Extension of Time to File
4
copy of Alaska’s Guide to Returns
other assistance, contact the department by
Payment Due Date
4
Based on a Combined Report.
telephone at: (907) 465-2320 in Juneau; or (907)
Where to Send the Return
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269-6620 in Anchorage.
Who Must Sign
5
Alaska Capital and Section 1231 Gains
Estimated Tax
5
and Losses. The new regulations clarify
INTERNET HOME PAGE
Payment of Tax
5
that Alaska capital gain net income as well
Current tax forms and instructions are available on
Large Payments
5
as the amount and character of Section
our Internet home page. Our URL is:
Alaska Interest Rates on Tax Due
5
1231 gain or loss must be determined
Amended Returns
5
based upon the taxpayer’s allocated and
Adjustments to Federal Income
apportioned gains and
losses.
Other
Tax Liability
5
ordinary gain or loss, such as depreciation
CHANGES THIS YEAR
Late Filing of Return
5
recapture, is unaffected by the 1998
Form Changes. Former Schedules H – Water’s
Late Payment of Tax
5
regulations. The regulation does not affect
Edge and H – Non-Affiliated have been replaced
Disclaimer Regarding Federal Changes
5
taxpayers that do business solely in Alaska.
with a single Schedule H to be used by all taxpayers
Schedule J is used to calculate Alaska
using standard Form 04-611.
SPECIFIC INSTRUCTIONS
gains and losses.
New Schedules J, K, and L calculate Alaska capital
Form 04-611
gain net income and section 1231 gain or loss, the
Charitable Contribution Deduction. The
Taxpayer Identification
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1998 regulations clarify that the charitable
Alaska charitable contribution deduction, and the
Contact Person
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Alaska dividends-received deduction respectively.
contribution deduction limitation is based
Alaska Commerce ID#
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on the taxpayer’s Alaska taxable income.
These new schedules most often apply to taxpayers
Return Data
5
using the standard Form 04-611. Schedules K and
Thus, the current deduction and excess
L may be used as worksheets by Short Form filers
contributions carryover may differ from its
Schedule A - Net Income Tax Summary
federal income tax counterpart. Taxpayers
when applicable.
Alaska Net Operating Loss
6
using combined reporting and/or with non-
Incentive Credits
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business income are most likely to have an
Schedule E has been modified to include corporate
Schedule B - Taxpayer Information
level taxes applicable to S-Corporations that were
Alaska contribution limitation that does not
Affiliated Taxpayer Information
6
correspond with their federal limitation.
previously reported on Schedule D.
Schedule K is used to calculate the Alaska
Schedule C - Tax Payment Record
6
Form 04-611N has been modified to reflect the two
charitable contribution deduction.
year carryback period effective for net operating
Schedule D - Alaska Tax Computation
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losses for tax years beginning after August 5, 1997.
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