Instructions For Form 6300

2013 Alaska Incentive Credits

GENERAL INSTRUCTIONS

Internal Revenue Code. The exception is the gas exploration

and development tax credit (AS 43.20.043) which may only be

used to offset the general Alaska income tax; it may not be used

Purpose of Form

to offset other taxes.

Form 6300 orders and limits Alaska incentive credits, based on

tax liability. This form is required if such credits are to be claimed

Credits Originating From A Partnership

on Form 6000, 6020, 6100, or 6150.

A corporation may claim Alaska incentive credits generated by a

partnership in which the corporation is a partner. The partnership

Form 6300 is not required to be filed when creditable activities

are reported by a partnership filing Form 6900.

is required to report the partner’s share of any credits on Form

6900, Schedule K-1. In order to claim the credit and offset Alaska

income tax, the taxpayer will include the creditable amounts

Other Related Forms

shown on the Schedule K-1 on the applicable line of Form 6300.

Alaska Incentive Credits

For example, a corporation will include on Form 6300, line 8

To claim Alaska incentive credits on Form 6300, you must also

(income tax education credit) its share of the credit shown on

attach specific supplementary credit forms as follows:

Form 6900, Schedule K-1, line 12.

Gas exploration and development tax credit

(AS 43.20.043) .................................................. Form 6320

Income tax education credit (AS 43.20.014) ..... Form 6310

Carryforward Of Unused Credit

Exploration incentive credit (AS 43.20.044) ........ Form 665

Certain credits may be carried forward if the credits cannot be

Veteran employment tax credit (AS 43.20.048) . Form 6325

used because of the tax liability limitation, as shown below.

Gas storage facility tax credit (AS 43.20.046) ... Form 6321

LNG storage facility credit (AS 43.20.047) ........ Form 6323

Credit

Alaska

Carryforward

To claim the veteran employment tax credit, you must maintain

Statute

Period

certain records, including properly completed Form(s) 6326

Gas exploration and development

Certificate of Qualifying Veteran. Do not send in Form 6326 with

AS 43.20.043

5 tax years

tax credit

your tax return.

Exploration incentive credit

AS 43.20.044

15 years

To claim the film production tax credit, you must attach the original

Veteran employment tax credit

AS 43.20.048

No limit

tax credit certificate issued by the Department of Revenue (DOR).

AS 43.98.030

Film production tax credit

No limit

Federal-based Credits

Form 6300 is required to be filed to claim credits generated in an

You may be eligible to claim certain federal-based credits, based

earlier year. Form 6300 must be accompanied by a schedule for

on Alaska’s adoption of the Internal Revenue Code under AS

each credit, showing the amount of credit generated and used,

43.20.021. These credits are claimed on Alaska Form 6390

by year.

Federal-based Credits. See Form 6390 and related instructions.

Passive activity credit limitations are calculated on an as-if Alaska

Refundable Credits

basis, using Alaska Form 6395 Passive Activity Limitation.

The gas storage facility tax credit (AS 43.20.046) and the LNG

storage facility credit (AS 43.20.047) are refundable under certain

If You Need Help

conditions.

If the credit exceeds the taxpayer’s tax liability,

If you have questions, need additional information or require

the DOR may refund the excess credit, subject to legislative

other assistance, see our website at , or

appropriation.

call:

Juneau: 907-465-2320

SPECIFIC INSTRUCTIONS

Anchorage: 907-269-6620

Line 2a: Enter the amount of gas exploration and development

Complete Form 6300 to claim any Alaska incentive credit on the

tax credit generated in the current year from Form 6320, line 4.

corporation’s net income tax return (Form 6000, 6020, 6100, or

6150).

Line 2b: Enter the amount of gas exploration and development

tax credit carried from a previous year.

You must attach a

Form 6300 accounts for all Alaska incentive credits, including

schedule showing the credit generated and used, by year, and

the income tax education credit, the film production tax credit,

by company.

and various exploration credits. The form also accounts for any

refundable credits. The credits are grouped on Form 6300 and

Line 6: Enter total of Other taxes and Personal Holding Company

then carried to, and claimed on, lines 7 or 12 of the corporation

tax from Schedule E lines 4 and 5 (Forms 6000 and 6100), lines

net income tax return (Form 6000, 6020, 6100, or 6150).

2 and 3 (Form 6020), and lines 5 and 6 (Form 6150).

In general, Alaska incentive credits may be used to offset the

Line 11: Enter the amount of exploration incentive credit from

general Alaska income tax imposed under AS 43.20.011, as

Form 665, line 9.

well as the Alaska alternative minimum tax (Alaska AMT) and

certain other taxes imposed through Alaska’s adoption of the

0405-6300i Rev 01/01/14 - page 1

Instructions For Form 6300 - Alaska Incentive Credits - 2013

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