Alaska Taxes

Can you believe that there is a state in the US which neither charges income tax nor sales tax? Yes, it is a fact. Alaska is the state with plenty of petroleum reserves and earns most of its revenue from petroleum alone. To finance state operations, Alaska depends primarily on petroleum revenues.

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Alaska Personal Income Tax

As stated earlier, Alaska does not collect income tax. So an Alaskan resident does not need an Alaska tax guide. In fact, instead of residents paying tax to the government, the government makes a payment to the residents. The government makes an online payment from Alaska Permanent Fund Corporation every year to all residents including children. The program is called My Alaska and the payment money is called PFD (Permanent Fund Dividend). The Tax Division of the Department of Revenue prepares periodical reports on the state’s resources.

Alaska Sales Tax

Alaska does not charge sales tax, but it levies a vehicle rental tax of 10% on passenger vehicles and 3% on recreational vehicles.  An excise charge of $46 per voyage has to be paid by passengers travelling on commercial boats that provide overnight accommodation. Sixty two municipalities collect a general sales tax ranging from 1 to 7%. Local taxes are also charged on raw fish, hotels, liquor, tobacco, gaming and fuel transfer. The state government shares a part of its revenue with municipalities.

Alaska Property Tax

There is no property tax on most of the land in Alaska.  Only 25 Alaskan municipalities charge this tax. For senior and disabled citizens, the first $150,000 of the property value is exempt from tax.

Alaska Estate Taxes

There is no inheritance tax.

Alaska Tax Guide for Corporate Income Tax

All companies that do business in Alaska must file their tax returns. In the case of S-Corporations, the Alaskan government does not levy tax on pass through income. However, taxes have to be paid on excess net passive income and built-in gains. Partnership businesses in Alaska having one or more corporate partners must also file their tax returns.

Where to Mail FEDERAL IRS Tax Forms within Alaska

IRS Form Address IRS Form Address
1040 : Internal Revenue Service
Fresno, CA 93888-0002
1040EZ : Internal Revenue Service
Fresno, CA 93888-0014
1040A : Internal Revenue Service
Fresno, CA 93888-0015
1040X : Internal Revenue Service
Fresno, CA 93888