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Notice of Extended Filing and Payment Deadline for Alaska Corporate Income Tax


Common Property Fishery Assessment
2018 Annual Report


Common Property Fishery Assessment Reports





AS 16.10.455

Description

The common property fishery assessment is a cost recovery fisheries assessment that the Alaska Legislature authorized in 2006. It allows hatcheries to establish a common property fishery and recoup costs through an assessment on fishery resources taken in the terminal harvest area. The program was first used in 2012 for the Hidden Falls Hatchery in Southeast Alaska, and the program has only been used for that hatchery.

Rate

A person subject to the common property fishery assessment under AS 16.10.455 shall pay an assessment as a percentage of the projected value of the salmon returning to the terminal harvest area, or as a flat rate on each pound of salmon harvested in the area, to the nearest whole cent. The Department of Revenue sets the assessment by March 1 of each year.

Returns

Buyers are responsible for the collection of the common property fishery assessment and filing an annual return for each business location. The due date is Oct. 31 of the year in which the common property fishery was conducted.

A buyer making a bonus or other additional payment to a person after Oct. 31 for salmon purchased in the previous reporting period shall collect the assessment and file a return of the bonus or additional payment made. The buyer shall file the return no later than the last day of the month following the month in which a bonus or additional payment was made.

History

2006 – The Legislature adopted the common property fishery assessment.

2012 – The program was first used in 2012 for the Hidden Falls Hatchery in Southeast Alaska.

2014 – The Legislature passed Senate Bill 71 (CH 69 SLA 14) that changed the methodology for determining the value of salmon for the common property fishery assessment.

2017 – Based on a forecast for a poor 2017 Hidden Falls chum salmon return, the Northern Southeast Regional Aquaculture Association (NSRAA) board did not impose the common property fishery assessment for the fishing period ending July 31, 2017. If there had been an assessment, it would have been due Oct. 31, 2017, (fiscal year 2018). Because there was no assessment, there is a zero for FY 2018 in the Collections Summary table below.

2018 – Similar to 2017, based on a forecast for a poor 2018 Hidden Falls chum salmon return, the NSRAA board did not impose the common property fishery assessment for the fishing period ending July 31, 2018. If there had been an assessment, it would have been due Oct. 31, 2018, (FY 2019). Because there was no assessment, there will be a zero for FY 2019 in the Collections Summary table in the FY 2019 Annual Report.



See the 2017 entry above for an explanation of the zero in the FY 2018 column in the Collections Summary table below.




Click here for data with additional years.

  Collections Summary

Fiscal Year

2018 2017 2016 2015
   Total Tax

$0

$13,262

$36,062

$320,656



  Filing Information

Fiscal Year

2018 2017 2016 2015

   Number of Returns

7 7 8 8

   Number of Taxpayers

5 7 6 7





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