Alaska Form 6150, officially called the Alaska Oil and Gas Corporation Net Income Tax Return, is a state tax form used to calculate and report the Alaska net income tax liability of corporations conducting business activities covered by Alaska’s oil and gas corporate income tax requirements. The form is governed by 15 AAC 20.421(c) and is designed to determine the amount of income attributable to Alaska, calculate applicable state taxes, account for available credits and deductions, and report payments made during the tax year. It covers both petroleum business activities and other business activities, allowing corporations to calculate their income separately and apply the appropriate Alaska apportionment factors. The return collects information about the corporation’s identity, federal taxable income, business activities, affiliated corporations, property, payroll, sales, oil and gas extraction, capital gains and losses, charitable contributions, dividends, estimated tax payments, and other applicable taxes. It also includes calculations for net operating loss carryovers, federal-based credits, Alaska incentive credits, and other tax adjustments. Corporations may need to complete additional schedules depending on their business structure, activities, and tax circumstances. Completing Form 6150 correctly is important because the information reported determines the corporation’s Alaska taxable income, total tax liability, remaining balance, or potential refund. Incorrect income allocations, missing supporting schedules, inaccurate payment records, or improperly calculated deductions can affect the final tax amount. The 2025 form is intended for a calendar year ending in 2025 or a fiscal tax year beginning in 2025 and ending in the applicable subsequent year.
How To File Form 6150
Form 6150 is an Alaska corporate tax return submitted to the Alaska Department of Revenue (DOR). It is used to report the corporation’s Alaska income, calculate its state tax liability, and reconcile the tax liability with payments and credits.
The form does not itself provide a mailing address, electronic filing procedure, or filing deadline. Before submitting the completed return, check the current Alaska Department of Revenue corporate income tax filing instructions for the accepted submission method, applicable deadline, and payment arrangements.
Documents And Information To Prepare
Gather the following information before starting the return. Not every item applies to every corporation.
- Corporation identification: Employer Identification Number (EIN), legal business name, NAICS code, mailing address, and contact details.
- Federal income tax return: Federal taxable income information and relevant calculations from the corporation’s federal income tax return, including Form 1120 when applicable.
- Federal supporting forms: Forms 1120S, 4626, 8991, 4797, and other federal forms referenced in the applicable schedules.
- Prior-year Alaska tax information: Previous Alaska returns, net operating loss carryovers, capital loss carryovers, charitable contribution carryovers, and prior-year overpayments.
- Estimated tax payment records: Payment dates, amounts, extension payments, refunds, and amounts previously credited toward estimated taxes.
- Corporate group information: Names, addresses, EINs, and NAICS codes of related corporations included in a consolidated Alaska return.
- Business activity records: Petroleum and other business income, expenses, and relevant adjustments.
- Apportionment records: Alaska and everywhere property, payroll, sales, and extraction information, as applicable.
- Capital transaction records: Section 1231 gains and losses and short-term and long-term capital gains and losses.
- Charitable contribution records: Current contributions, education credit contributions, and eligible carryovers.
- Dividend information: Dividend income, intercompany dividends, foreign dividends, and other amounts needed for the dividends-received deduction.
- Supporting statements: Additional schedules explaining non-business income, other additions, subtractions, and any amounts specifically identified as requiring an attachment.
Supporting Forms And Attachments
Some entries on Form 6150 require additional documents or calculations.
- Form 1120S: Attach the federal S Corporation return when the S Corporation box in the return information section is checked.
- Form 6220: Attach this form when the amount on Schedule A, line 9, is more than $500.
- Form 6300: Use it to determine Alaska incentive credits applied against tax.
- Form 6390: Use it to determine applicable federal-based credits.
- Form 6230: Use it when accounting for a quick refund in the payment record.
- Form 6385: Use it to determine the Alaska charitable contribution carryover reported on Schedule K.
- Form 6310: Use it when calculating the applicable expenditures on Schedule H.
- Federal Forms 4626 and 8991: Use the relevant information when calculating alternative minimum tax and base erosion and anti-abuse tax on Schedule E.
- Federal Form 4797: Use the applicable Section 1231 gains and losses information on Schedules G, H, and J.
- Additional supporting schedules: Attach explanations wherever the form requests an additional schedule, such as non-business income, other adjustments, or other deductions.
The form also refers to a separate Alaska tax rate table and additional instructions. These are needed to complete certain calculations, particularly Schedule D and entries marked as requiring instructions.
How To Complete Form 6150
Complete the return using the information from the corporation’s federal tax records, Alaska business records, applicable supporting forms, and previous Alaska tax filings.
Enter the corporation’s EIN and name in the identification fields provided at the top of each additional page.
Taxpayer Identification And Return Information
The first section identifies the corporation and establishes the tax year covered by the return.
Tax Year
The form is designed for calendar year 2025 or a fiscal tax year beginning in 2025. If the corporation uses a fiscal year, enter the beginning and ending dates in the spaces provided.
Employer Identification Number (EIN)
Enter the corporation’s federal Employer Identification Number. Use the same EIN associated with the business’s federal tax filings.
NAICS Code
Enter the applicable North American Industry Classification System (NAICS) code identifying the corporation’s primary business activity.
Contact Person
Enter the name of the individual the Alaska Department of Revenue can contact about the return.
Corporation Name
Enter the corporation’s full legal name as used on its tax records.
Title
Enter the professional or organizational title of the person identified as the contact person.
Mailing Address
Provide the corporation’s complete mailing address, including the street address or applicable mailing address information.
Check If New Address
Select this box if the mailing address entered on the return is different from the address previously provided to the Alaska Department of Revenue.
Contact Email Address
Enter an email address where the department can contact the corporation or its designated representative.
City, State, And ZIP Code
Provide the city, state, and ZIP code associated with the mailing address.
Contact Telephone Number
Enter the telephone number for the person responsible for handling questions about the return.
Contact Fax Number
Enter the corporation’s fax number if applicable.
Return Information
The return information section contains several checkboxes identifying the corporation’s filing circumstances. Select every applicable option.
Final Alaska Return
Check this box if the corporation is filing its final Alaska return. This identifies the return as the corporation’s final filing for Alaska tax purposes.
Consolidated Alaska Return
Check this box if the corporation is filing a consolidated Alaska return that includes other corporations with Alaska nexus.
Amended Return
Select this box if the corporation is correcting or updating a previously submitted Alaska Form 6150.
Federal Extension Is In Effect
Check this box if the corporation has an applicable federal filing extension in effect.
Public Law 86-272 Applies
Select this box if the corporation qualifies for the protection provided by Public Law 86-272.
Exempt Organization With UBTI
Check this box if the organization is tax-exempt but has unrelated business taxable income (UBTI) that must be reported.
S Corporation (Attach Form 1120S)
Check this box if the corporation is filing as an S Corporation. The form specifically requests an attached federal Form 1120S.
Personal Holding Company
Select this box if the corporation qualifies as a personal holding company for the applicable tax purposes.
Additional Information For Amended Returns
Complete these additional checkboxes only when the Amended Return box has been selected.
Amended Return To Report IRS Audit Or Form 1120X
Check this option if the amended Alaska return is being filed to report changes resulting from an IRS audit or an amended federal Form 1120X.
This Is A Protective Claim
Select this box if the amended return is being submitted as a protective claim.
Schedule A: Net Income Tax Summary
Schedule A summarizes the corporation’s Alaska taxable income, tax liability, applicable credits, payments, and final balance due or overpayment.
Complete the supporting schedules first so that the correct amounts can be transferred to the corresponding lines.
Line 1: Alaska Income (Loss) From Schedule F, Line 4
Enter the Alaska taxable income or loss calculated on Schedule F, line 4. This amount represents the corporation’s Alaska income before applying the net operating loss deduction reported on line 2.
Line 2: Alaska Net Operating Loss Utilized
Enter the Alaska net operating loss carryover being used to reduce the current year’s taxable income. Identify the applicable carryover year in the space provided. Use the eligible carryover amount supported by the corporation’s Alaska tax records.
Line 3: Alaska Taxable Income
Subtract line 2 from line 1. The result represents the corporation’s Alaska taxable income after applying the available net operating loss deduction.
Line 4: Alaska Income Tax From Schedule D, Line 2
Transfer the Alaska income tax calculated on Schedule D, line 2. This is the tax amount determined using the applicable Alaska tax rate table.
Line 5: Other Taxes From Schedule E, Line 7
Enter the total additional taxes calculated on Schedule E, line 7. Include the applicable amounts for petroleum and other business activities.
Line 6: Total Tax
Add lines 4 and 5. This gives the corporation’s total Alaska tax before applying the available credits.
Line 7: Alaska Incentive Credits Applied Against Tax From Form 6300, Line 30
Enter the Alaska incentive credits being applied against the corporation’s tax liability. Transfer the eligible amount from Form 6300, line 30.
Line 8: Federal-Based Credits From Form 6390, Line 33
Enter the applicable federal-based credits calculated on Form 6390, line 33.
Line 9: Net Alaska Income Tax
Subtract the combined amount of lines 7 and 8 from line 6. The result is the corporation’s net Alaska income tax after credits. If this amount is greater than $500, attach Form 6220.
Line 10: Payments From Schedule C
Enter the total net tax payments calculated on Schedule C. This includes applicable estimated payments, extension payments, and other payment adjustments.
Line 11: Alaska Credit For Prior Minimum Tax
Enter any eligible Alaska credit for prior minimum tax. Refer to the applicable instructions to determine whether the corporation qualifies and how to calculate the amount.
Line 12: Reserved
This line is reserved and does not require a tax amount. Leave it blank.
Line 13: Tax Due (Overpaid)
Subtract the combined amounts on lines 10 and 11 from line 9. The result determines whether the corporation has an outstanding tax balance or an overpayment.
Line 14: Penalty For Underpayment Of Estimated Tax
Enter the applicable penalty for underpaying estimated tax, if required. Use the applicable instructions to determine whether a penalty applies and how to calculate it.
Line 15: Total Amount Due (Overpaid)
Add lines 13 and 14. This produces the corporation’s final amount due or overpayment before deciding how to use any overpayment. If the result is greater than zero, the form instructs you to stop at this line rather than complete the refund section.
Line 16: Overpayment Credited To 2026 Estimated Tax
Enter the portion of the overpayment that the corporation wants credited toward its 2026 estimated tax. Enter this amount as a positive number.
Line 17: Refund
Add lines 15 and 16 to determine the refund amount reported on the return. This line reflects the remaining overpayment after accounting for any amount credited toward 2026 estimated tax.
Signature And Paid Preparer Information
The bottom of page 1 contains the declaration and signature fields. The corporation must provide the required information to complete the return.
Taxpayer Declaration
The officer signing the return declares that the return and accompanying schedules have been examined and are true, correct, and complete to the best of their knowledge and belief.
Check If The DOR May Discuss This Return With The Preparer
Select this box if the corporation authorizes the Alaska Department of Revenue to discuss the return with the paid preparer. Refer to the applicable instructions for the scope of this authorization.
Officer’s Signature
The authorized corporate officer must sign the return to confirm the declaration.
Date
Enter the date the officer signs the return.
Title
Enter the officer’s position or official title within the corporation.
Preparer’s Signature
If a paid tax preparer completed the return, the preparer must provide their signature.
Preparer’s Date
Enter the date the preparer signs the return.
Preparer Firm’s Name
Enter the full name of the tax preparation firm, if applicable.
Preparer’s SSN Or PTIN
Provide the preparer’s Social Security Number or Preparer Tax Identification Number, as applicable.
Preparer Firm’s Address
Enter the complete mailing address of the tax preparation firm.
EIN
Enter the tax preparation firm’s Employer Identification Number.
Phone
Provide the firm’s telephone number.
City, State, And ZIP Code
Enter the city, state, and ZIP code of the preparer’s business address.
Schedule B: Alaska Taxpayer Information
Schedule B collects additional information about corporations included in a consolidated Alaska return, the federal consolidated group, and changes in the corporation’s business identity.
The corporation should complete the applicable sections and provide accurate information for every business included in the return.
Part 1: Corporations Included In A Consolidated Alaska Return
This section applies only to Alaska consolidated returns. List every corporation other than the primary taxpayer shown on page 1 that has nexus in Alaska and is included in the consolidated return.
The form provides four corporation information blocks. Use additional supporting information if more entries are needed.
Column A: Name Of Each Corporation With Nexus In Alaska
Enter the legal name of each additional corporation included in the Alaska consolidated return.
Address
Enter the corporation’s complete business mailing address.
City, State, And ZIP Code
Provide the city, state, and ZIP code associated with the corporation’s address.
Column B: Public Law 86-272 Applies
Check this box if Public Law 86-272 applies to the corporation being reported.
Column C: Other Business
Select this box when the corporation is classified as conducting other business rather than being reported solely as a petroleum business.
Column D: EIN
Enter the Employer Identification Number of the corporation included in the consolidated return.
Column E: NAICS Code
Enter the applicable NAICS code for the corporation’s business activity.
Factor Numerators To Be Reported: Property, Sales, Extraction, And Payroll
For each listed corporation, select the applicable factor categories that need to be reported. The available choices are property, sales, extraction, and payroll.
These selections identify the apportionment factors associated with the corporation’s business activities.
The form warns that failure to complete this consolidated reporting section correctly may result in penalties.
Part 2: Federal Consolidated Group Information
This section applies when any taxpayer included in the Alaska return is also included in a federal consolidated return filed using Form 1120.
EIN
Enter the Employer Identification Number of the common parent corporation of the federal consolidated group.
Name
Enter the legal name of the common parent corporation.
Address
Provide the common parent’s mailing address.
City, State, And ZIP Code
Enter the city, state, and ZIP code associated with the common parent’s address.
Part 3: Successor To A Previously Existing Business
Complete this section when filing the corporation’s first Alaska return, if the business is a successor to a previously existing business.
Successor To Previously Existing Business
Check this box if the corporation succeeded a previously existing business.
EIN
Enter the EIN of the previous business.
Name
Enter the legal name of the previous business.
Address
Provide the previous business’s address.
City, State, And ZIP Code
Enter the city, state, and ZIP code of the previous business.
Part 4: Changes From The Prior-Year Return
Use this section when the corporation’s name or EIN differs from the information reported on the previous year’s return.
EIN
Enter the EIN shown on the previous year’s Alaska return.
Name
Enter the corporation’s name as it appeared on the previous year’s return.
Reason
Explain why the information has changed. Examples provided by the form include a merger or a change of business name.
Schedule C: Tax Payment Record
Schedule C records the corporation’s estimated tax payments, extension payments, prior-year overpayments, and other payment adjustments.
The information from this schedule is used to calculate the total net payments transferred to Schedule A, line 10.
Estimated Payments
The first part of Schedule C records the corporation’s estimated tax payments during the year.
First Estimated Payment
Enter the date and amount of the first estimated tax payment made for the applicable tax year.
Second Estimated Payment
Enter the date and amount of the second estimated tax payment.
Third Estimated Payment
Enter the date and amount of the third estimated tax payment.
Fourth Estimated Payment
Enter the date and amount of the fourth estimated tax payment.
Total Estimated Tax Payments
Add the four estimated payments and enter the total. This amount represents the corporation’s estimated tax payments for the year.
Payment Summary
The second part of Schedule C combines the estimated payments with other applicable payments and adjustments.
Payment With Extension
Enter the date and amount of any tax payment made with the corporation’s filing extension.
Total Estimated Tax Payments
Transfer the total estimated tax payments calculated in the left-hand section.
Overpayment From Prior Year
Enter any overpayment from the previous tax year that was applied toward the current year’s tax liability.
Less: Quick Refund From Form 6230
Enter the amount of any quick refund received through Form 6230. This amount is deducted when determining the remaining payments available for the return.
Amended Return Only
Complete the following entries only when filing an amended return.
Tax Paid With Original Return And Additional Tax Paid
Enter the tax paid with the original return together with any additional tax payments made after the original filing.
Less: Overpayment Previously Credited To 2026
Enter the amount of any overpayment from the original filing that was previously credited toward 2026 estimated tax. This amount is deducted from the payment total.
Less: Refund From Original Return And Additional Refunds
Enter the amount of any refund already received from the original return and any additional refunds issued. These amounts reduce the remaining net payments.
Total Net Payments To Schedule A, Line 10
Calculate the total remaining payments after accounting for all applicable estimated payments, extension payments, prior-year overpayments, quick refunds, and amended-return adjustments.
Transfer the resulting amount to Schedule A, line 10.
Schedule D: Alaska Tax Computation
Schedule D calculates the corporation’s Alaska income tax using the taxable income reported on Schedule A.
The Alaska tax rate table is provided in the separate form instructions. You must use that table to calculate the tax.
Line 1: Alaska Taxable Income From Schedule A, Line 3
Transfer the Alaska taxable income calculated on Schedule A, line 3.
This is the amount used to determine the corporation’s Alaska income tax.
Line 2: Tax
Use the Alaska tax rate table in the applicable instructions to calculate the tax on the income reported on line 1.
Enter the calculated tax on Schedule D, line 2. Transfer the same amount to Schedule A, line 4.
Schedule E: Other Taxes
Schedule E calculates additional taxes that may apply to the corporation’s petroleum and other business activities.
The schedule contains three columns:
- Column A: Petroleum — Enter applicable amounts associated with petroleum business activities.
- Column B: Other Business — Enter applicable amounts associated with other business activities.
- Column C: Total — Enter the combined amounts from the petroleum and other business columns where required.
Alternative Minimum Tax
Line 1a: Alternative Minimum Tax From Federal Form 4626
Enter the applicable alternative minimum tax amount from federal Form 4626 in the appropriate business column.
Line 1b: Multiply Line 1a By 18%
Multiply the amount reported on line 1a by 18%. Enter the result in the appropriate column.
Line 1c: Apportionment Factor From Schedule I, Line 14
Enter the applicable apportionment factor from Schedule I, line 14. Use the appropriate petroleum or other business apportionment factor.
Line 1d: Multiply Line 1b By Line 1c
Multiply the amount on line 1b by the corresponding apportionment factor on line 1c. Enter the resulting apportioned alternative minimum tax.
Base Erosion And Anti-Abuse Tax
Line 2a: Base Erosion And Anti-Abuse Tax (BEAT) From Federal Form 8991
Enter the applicable Base Erosion and Anti-Abuse Tax amount from federal Form 8991.
Line 2b: Apportionment Factor From Schedule I, Line 14
Enter the applicable apportionment factor from Schedule I, line 14 for the business category being reported.
Line 2c: Multiply Line 2a By Line 2b
Multiply the amount reported on line 2a by the apportionment factor on line 2b. Enter the resulting apportioned BEAT amount.
Line 3: Add Lines 1d And 2c
Add the amounts reported on lines 1d and 2c. Enter the combined result in the appropriate petroleum, other business, and total columns.
Additional Taxes
Line 4: Personal Holding Company Tax
Enter the applicable personal holding company tax, if the corporation is subject to this tax. Refer to the instructions for the calculation requirements.
Line 5: Tax On Early Cessation Of Operations – LNG Storage Facility
Enter any applicable tax resulting from the early cessation of operations involving an LNG storage facility.
Line 6: Other Taxes
Enter any additional taxes that apply to the corporation but are not already included on the preceding lines. Refer to the instructions for the relevant tax calculations.
Line 7: Total Other Taxes
Add line 3, column C, through line 6. This produces the total amount of other taxes.
Transfer the result to Schedule A, line 5.
Schedule F: Petroleum And Other Unitary Business Taxable Income
Schedule F brings together the income calculated on Schedules G and H, non-business income allocated to Alaska, and applicable capital gain and deduction amounts.
The schedule contains three columns:
- Column A: Petroleum — Petroleum business income and adjustments.
- Column B: Other Business — Other business income and adjustments.
- Column C: Total — Combined Alaska amounts.
Line 1: Apportioned Income (Loss) From Schedules G And H
Transfer the apportioned petroleum business income or loss from Schedule G and the apportioned other business income or loss from Schedule H.
Enter the petroleum amount in column A and the other business amount in column B. Calculate the total in column C.
Line 2: Non-Business Income (Loss) Net Of Expenses Allocable To Alaska
Enter non-business income or loss that is directly allocable to Alaska, after deducting the expenses associated with producing that income.
Attach a supporting schedule explaining the income and related expenses. Report the applicable amounts in the petroleum and other business columns.
Alaska Items
Line 3a: Alaska Capital And Section 1231 Gain (Loss) From Schedule J, Line 28
Transfer the Alaska capital gain or loss calculated on Schedule J, line 28.
This amount includes the applicable capital gain and Section 1231 gain or loss adjustments.
Line 3b: Alaska Charitable Contribution Deduction From Schedule K, Line 10
Transfer the Alaska charitable contribution deduction calculated on Schedule K, line 10.
Enter the applicable deduction as a reduction of taxable income.
Line 3c: Alaska Dividends-Received Deduction
Enter the applicable Alaska dividends-received deduction. Use the dividend calculations on Schedule L and the relevant instructions to determine the allowable amount.
Line 3d: Total
Add lines 3a, 3b, and 3c. Account for the deductions shown in parentheses when calculating the total.
Line 4: Alaska Taxable Income (Loss) Before Net Operating Loss
Add lines 1 and 2, column C, and line 3d.
The result represents the corporation’s Alaska taxable income or loss before applying the net operating loss deduction.
Transfer this amount to Schedule A, line 1.
Schedule G: Computation Of Alaska Income – Petroleum
Schedule G calculates the Alaska income attributable to the corporation’s petroleum business activities.
It begins with federal taxable income, makes combined reporting adjustments, applies Alaska-specific additions and subtractions, and calculates the income apportioned to Alaska.
Federal Income And Combined Reporting
Line 1: Federal Taxable Income (Loss)
Enter the corporation’s federal taxable income or loss applicable to the petroleum business. Refer to the instructions for the correct starting amount.
Line 2a: Federal Taxable Income (Loss) Of Corporations Not Included In Line 1
Enter the federal taxable income or loss of corporations included in combined reporting that are not already included in line 1.
Line 2b: Foreign Corporations
Enter the applicable federal taxable income or loss of foreign corporations included in the combined reporting calculation.
Line 2c: Federal Taxable (Income) Loss Of Non-Unitary Corporations
Enter the federal taxable income or loss adjustment for non-unitary corporations. Apply the appropriate treatment under the combined reporting instructions.
Line 2d: Intercompany Eliminations
Enter the applicable adjustments for transactions between corporations included in the combined reporting group. Follow the instructions for identifying and eliminating intercompany amounts.
Line 2e: Total Adjustments For Combined Reporting
Add lines 2a through 2d. Enter the combined adjustments to federal taxable income.
Additions
The next group of lines identifies amounts that must be added when calculating Alaska petroleum business income.
Line 3a: Taxes Based On Or Measured By Net Income
Enter applicable taxes based on or measured by net income that must be included in the Alaska income calculation.
Line 3b: Federal Charitable Contributions From Federal Form 1120, Line 19
Enter the charitable contribution deduction reported on federal Form 1120, line 19.
Line 3c: Net Section 1231 Losses From Federal Form 4797, Line 11
Enter the applicable net Section 1231 losses reported on federal Form 4797, line 11.
Line 3d: Intangible Drilling And Development Costs Expensed For Federal Purposes
Enter the intangible drilling and development costs that were deducted as expenses for federal tax purposes.
Line 3e: Percentage Depletion Deducted For Federal Purposes
Enter the percentage depletion deduction claimed for federal tax purposes.
Line 3f: Federal Depreciation
Enter the depreciation amount deducted when calculating federal taxable income.
Line 3g: Expenses Incurred To Produce Non-Business Income
Enter expenses associated with producing non-business income that must be included as an adjustment in this calculation.
Line 3h: Oil And Gas Service Industry Expenditures
Enter applicable oil and gas service industry expenditures. Refer to the instructions for the relevant treatment and calculation.
Line 3i: Other
Enter other applicable additions not covered by the preceding lines. Attach a supporting schedule explaining the amounts.
Line 3j: Total Additions
Add lines 3a through 3i. Enter the total additions.
Line 4: Total
Add line 1, line 2e, and line 3j.
This amount represents federal taxable income after the combined reporting adjustments and Alaska additions have been applied.
Subtractions
The following lines identify amounts that must be subtracted when calculating Alaska petroleum business income.
Line 5a: Intangible Drilling Costs Allowable
Enter the allowable intangible drilling costs for the Alaska income calculation.
Line 5b: Cost Depletion
Enter the applicable cost depletion amount.
Line 5c: Depreciation Allowable
Enter the depreciation amount allowable for the Alaska tax calculation.
Line 5d: Interest From Obligations Of The U.S. Government
Enter applicable interest income from obligations of the United States government.
Line 5e: Intercompany Dividends
Enter qualifying intercompany dividends included in the income calculation that are eligible for subtraction.
Line 5f: Section 78 Gross-Up Dividends
Enter the applicable Section 78 gross-up dividend amount.
Line 5g: Federal Form 1120, Line 8 Capital Gain Income
Enter the capital gain income reported on federal Form 1120, line 8.
Line 5h: Non-Recaptured Section 1231 Losses From Prior Years From Federal Form 4797, Line 12
Enter eligible Section 1231 losses from prior years that have not previously been recaptured. Use the applicable amount from federal Form 4797, line 12.
Line 5i: Non-Business Income
Enter non-business income that must be excluded from apportionable petroleum business income. Attach a supporting schedule explaining the amount.
Line 5j: Other
Enter any other allowable subtractions not included on the preceding lines. Attach a supporting schedule describing the adjustment.
Line 5k: Total Subtractions
Add lines 5a through 5j. Enter the total subtractions.
Line 6: Apportionable Business Income (Loss)
Subtract line 5k from line 4.
The result represents the petroleum business income or loss available for apportionment between Alaska and other locations.
Line 7: Apportionment Factor From Schedule I-1, Line 14
Transfer the petroleum business apportionment factor from Schedule I-1, line 14.
Line 8: Apportioned Income (Loss) From Petroleum Business
Multiply line 6 by line 7.
Enter the resulting Alaska petroleum business income or loss on Schedule F, line 1, column A.
Schedule H: Computation Of Alaska Income – Other Business
Schedule H calculates Alaska income attributable to the corporation’s other business activities rather than its petroleum business.
It follows a similar process to Schedule G but includes additional combined reporting adjustments and deductions specific to other business activities.
Federal Income And Combined Reporting
Line 1: Federal Taxable Income (Loss)
Enter the corporation’s federal taxable income or loss applicable to other business activities. Refer to the instructions for the correct starting amount.
Line 2a: Federal Taxable Income (Loss) Of Corporations Not Included In Line 1
Enter the federal taxable income or loss of corporations included in combined reporting that are not already included in line 1.
Line 2b: Foreign Corporations With 20% Or Greater U.S. Factors
Enter the applicable income or loss of foreign corporations with U.S. factors of 20% or greater.
Line 2c: Income From Tax Haven Corporations And Any FSC Profit
Enter income from tax haven corporations and any applicable Foreign Sales Corporation (FSC) profit included in the combined reporting calculation.
Line 2d: Federal Taxable (Income) Loss Of Non-Unitary Corporations
Enter the applicable federal taxable income or loss adjustment for non-unitary corporations.
Line 2e: Federal Taxable (Income) Loss Of Corporations With U.S. Factors Of Less Than 20%
Enter the applicable federal taxable income or loss of corporations whose U.S. factors are below 20%.
Line 2f: Intercompany Eliminations
Enter adjustments for intercompany transactions that must be eliminated when calculating combined income. Follow the applicable instructions.
Line 2g: Total Adjustments For Combined Reporting
Add lines 2a through 2f. Enter the total combined reporting adjustments.
Line 3: Net Income Before State Modifications And Adjustments
Add line 1 and line 2g.
This produces the net income amount before applying the Alaska-specific additions and subtractions.
Additions
Line 4a: Taxes Based On Or Measured By Net Income
Enter applicable taxes based on or measured by net income that must be added back for the Alaska calculation.
Line 4b: Expenses Incurred To Produce Non-Business Income
Enter expenses incurred to produce non-business income that are included as an adjustment.
Line 4c: Federal Charitable Contributions From Federal Form 1120, Line 19
Enter the charitable contribution deduction reported on federal Form 1120, line 19.
Line 4d: Net Section 1231 Losses From Federal Form 4797, Line 11
Enter the applicable net Section 1231 losses from federal Form 4797, line 11.
Line 4e: Oil And Gas Service Industry Expenditures
Enter applicable oil and gas service industry expenditures. Refer to the instructions for the relevant treatment.
Line 4f: Expenditures From Form 6310
Enter the applicable expenditures calculated using Form 6310. Follow the related instructions when determining the amount.
Line 4g: Other
Enter other applicable additions that are not included in lines 4a through 4f. Attach a supporting schedule explaining the adjustment.
Line 4h: Total Additions
Add lines 4a through 4g. Enter the total additions.
Line 5: Total
Add line 3 and line 4h.
This amount represents net income after applying the combined reporting adjustments and Alaska additions.
Subtractions
Line 6a: Interest From Obligations Of The United States
Enter applicable interest income from obligations of the United States government.
Line 6b: Intercompany Dividends
Enter qualifying intercompany dividends that must be excluded from the other business income calculation.
Line 6c: Section 78 Gross-Up Dividends
Enter the applicable Section 78 gross-up dividend amount.
Line 6d: 80% Of Dividends Received From Foreign Corporations
Calculate 80% of the applicable dividends received from foreign corporations and enter the resulting amount.
Line 6e: 80% Of Royalties Accrued Or Received From Foreign Corporations
Calculate 80% of applicable royalties accrued or received from foreign corporations and enter the result.
Line 6f: Non-Business Income
Enter non-business income that must be excluded from apportionable business income. Attach a supporting schedule showing the relevant amounts.
Line 6g: Federal Form 1120, Line 8 Capital Gain Income
Enter capital gain income reported on federal Form 1120, line 8.
Line 6h: Non-Recaptured Section 1231 Losses From Prior Years From Federal Form 4797, Line 12
Enter eligible Section 1231 losses from previous years that have not been recaptured. Use the applicable amount reported on federal Form 4797, line 12.
Line 6i: Other
Enter other allowable subtractions that are not covered by lines 6a through 6h. Attach a supporting schedule explaining the amounts.
Line 6j: Total Subtractions
Add lines 6a through 6i. Enter the total subtractions.
Line 7: Apportionable Income (Loss)
Subtract line 6j from line 5.
The result represents the other business income or loss available for apportionment.
Line 8: Apportionment Factor From Schedule I-2, Line 14
Transfer the applicable other business apportionment factor from Schedule I-2, line 14.
Line 9: Apportioned Income (Loss) From Other Business
Multiply line 7 by line 8.
Enter the result on Schedule F, line 1, column B.
Schedule I-1: Petroleum Business
Schedule I-1 calculates the apportionment factor for the corporation’s petroleum business activities.
It uses Alaska and everywhere property, extraction, and sales information to determine the portion of petroleum business income attributable to Alaska.
Petroleum Business Activity Checkboxes
Select every applicable checkbox at the top of the schedule.
Taxpayer Produces Oil Or Gas In Alaska
Check this box if the corporation produces oil or gas in Alaska.
Taxpayer Transports Oil Or Gas In Alaska
Check this box if the corporation transports oil or gas in Alaska.
Attorney General’s Opinion Dated 10/20/99 Applies
Check this box if the Attorney General’s opinion dated October 20, 1999, applies to the taxpayer for purposes of factor relief.
Property Factor
Line 1: Property Within Alaska
List the applicable corporations or entities and their property within Alaska.
The schedule provides five entry rows, numbered 1a through 1e.
For each entry, complete the following columns:
- Column A: EIN — Enter the corporation’s Employer Identification Number.
- Column B: Name — Enter the corporation’s legal name.
- Column C: Property Within Alaska — Enter the applicable value of property located within Alaska.
Line 2: Total Of Line 1, Column C
Add the property amounts entered in rows 1a through 1e, column C.
Enter the total Alaska property amount.
Line 3: Property Everywhere
Enter the corporation’s total property everywhere, including property located inside and outside Alaska, as applicable.
Line 4: Property Factor
Divide line 2 by line 3.
The result represents the proportion of the corporation’s property located in Alaska.
Extraction Factor
The form states that oil and gas transportation companies should skip lines 5 through 8 and proceed directly to line 9.
Line 5: Extraction Within Alaska
Enter the applicable extraction amounts for the corporation’s Alaska operations.
The schedule provides five rows, numbered 5a through 5e.
For each entry, provide:
- Column A: EIN — Enter the applicable corporation’s EIN.
- Column B: Name — Enter the corporation’s name.
- Column C: Extraction Within Alaska — Enter the applicable Alaska extraction amount.
Line 6: Total Of Line 5, Column C
Add the amounts reported in rows 5a through 5e, column C.
Enter the total Alaska extraction amount.
Line 7: Extraction Everywhere
Enter the total extraction amount everywhere, including Alaska and locations outside Alaska.
Line 8: Extraction Factor
Divide line 6 by line 7.
This calculation determines the proportion of total extraction attributable to Alaska.
Sales Factor
The form states that oil and gas producing companies should skip lines 9 through 12 and proceed directly to line 13.
Line 9: Sales Within Alaska
Enter the corporation’s applicable sales amounts within Alaska.
The schedule provides five rows, numbered 9a through 9e.
For each entry, complete:
- Column A: EIN — Enter the applicable corporation’s EIN.
- Column B: Name — Enter the corporation’s legal name.
- Column C: Sales Within Alaska — Enter the applicable Alaska sales amount.
Line 10: Total Of Line 9, Column C
Add the amounts entered in rows 9a through 9e, column C.
Enter the total Alaska sales amount.
Line 11: Sales Everywhere
Enter the corporation’s total sales everywhere, including Alaska and locations outside Alaska.
Line 12: Sales Factor
Divide line 10 by line 11.
The result represents the proportion of total sales attributable to Alaska.
Final Petroleum Apportionment Factor
Line 13: Total Property, Extraction, And Sales
Add lines 4, 8, and 12.
This combines the applicable property, extraction, and sales factors.
Line 14: Apportionment Factor
Divide line 13 by 3 or 2, as applicable.
The calculation uses the number of factors applicable to the corporation’s business classification. Use the appropriate factor count based on the schedule’s instructions and the activities reported.
Transfer the resulting apportionment factor to Schedule G, line 7, and to other applicable calculations that request the petroleum business factor.
Schedule I-2: Other Business
Schedule I-2 calculates the Alaska apportionment factor for the corporation’s other business activities.
Unlike Schedule I-1, this schedule uses property, payroll, and sales factors rather than an extraction factor.
Property Factor
Line 1: Property Within Alaska
List the corporations or entities and their applicable property located within Alaska.
The schedule provides five entry rows, numbered 1a through 1e.
For each row, enter:
- Column A: EIN — Enter the corporation’s Employer Identification Number.
- Column B: Name — Enter the corporation’s legal name.
- Column C: Property Within Alaska — Enter the applicable Alaska property amount.
Line 2: Total Of Line 1, Column C
Add the amounts reported in rows 1a through 1e, column C.
Enter the total property within Alaska.
Line 3: Property Everywhere
Enter the total value of the corporation’s property everywhere, including Alaska and all other applicable locations.
Line 4: Property Factor
Divide line 2 by line 3.
This calculates the proportion of the corporation’s property attributable to Alaska.
Payroll Factor
Line 5: Payroll Within Alaska
Enter the corporation’s applicable payroll amounts within Alaska.
The schedule provides five entry rows, numbered 5a through 5e.
For each row, complete:
- Column A: EIN — Enter the applicable corporation’s EIN.
- Column B: Name — Enter the corporation’s legal name.
- Column C: Payroll Within Alaska — Enter the applicable payroll amount within Alaska.
Line 6: Total Of Line 5, Column C
Add the amounts reported in rows 5a through 5e, column C.
Enter the total Alaska payroll amount.
Line 7: Payroll Everywhere
Enter the corporation’s total payroll everywhere, including Alaska and locations outside Alaska.
Line 8: Payroll Factor
Divide line 6 by line 7.
This determines the proportion of the corporation’s total payroll attributable to Alaska.
Sales Factor
Line 9: Sales Within Alaska
Enter the applicable sales amounts attributable to Alaska.
The schedule provides five entry rows, numbered 9a through 9e.
For each entry, complete:
- Column A: EIN — Enter the corporation’s EIN.
- Column B: Name — Enter the corporation’s legal name.
- Column C: Sales Within Alaska — Enter the applicable Alaska sales amount.
Line 10: Total Of Line 9, Column C
Add the amounts entered in rows 9a through 9e, column C.
Enter the total Alaska sales amount.
Line 11: Sales Everywhere
Enter the corporation’s total sales everywhere, including Alaska and locations outside Alaska.
Line 12: Sales Factor
Divide line 10 by line 11.
The result represents the proportion of total sales attributable to Alaska.
Final Other Business Apportionment Factor
Line 13: Add Lines 4, 8, And 12
Add the property factor from line 4, the payroll factor from line 8, and the sales factor from line 12.
Line 14: Apportionment Factor
Divide line 13 by 3.
If fewer than three factors are used, refer to the instructions for the correct calculation.
Transfer the resulting factor to Schedule H, line 8.
Schedule J: Alaska Capital And Section 1231 Gains And Losses
Schedule J calculates Alaska-related capital gains and losses and Section 1231 gains and losses.
It separates the calculations into Section 1231 transactions, short-term capital gains and losses, long-term capital gains and losses, and a final summary.
The schedule uses three columns:
- Column A: Gains (Losses) — Enter the applicable gain or loss amount.
- Column B: Alaska Factor — Enter the relevant Alaska apportionment factor.
- Column C: Alaska Gain Or (Loss) — Enter the resulting Alaska-attributable amount.
Section 1231 Gains And Losses
Line 1: Current Section 1231 Gains And (Losses) Petroleum Business
Enter the current-year Section 1231 gains or losses associated with petroleum business activities. Complete the applicable columns using the gains or losses amount and Alaska factor.
Line 2: Current Section 1231 Gains And (Losses) Other Business
Enter the current-year Section 1231 gains or losses associated with other business activities. Apply the appropriate Alaska factor.
Line 3: Consolidated Section 1231 Gain (Loss)
Add line 1, column C, and line 2, column C.
The result represents the consolidated Alaska Section 1231 gain or loss.
Line 4: Alaska Non-Recaptured Section 1231 Losses From Prior Years
Enter eligible Section 1231 losses from prior years that have not been recaptured.
Enter this amount as a positive number.
Line 5: Adjusted Section 1231 Gain
If line 3, column C, shows a gain, subtract line 4 from line 3, column C. Do not enter an amount below zero.
Enter the result on line 5 and transfer the same amount to line 23.
Line 6: Lesser Of Section 1231 Gain Or Prior-Year Losses
If line 3, column C, shows a gain, enter the smaller of line 3, column C, or line 4.
Transfer the amount to line 27.
If line 3, column C, shows a loss rather than a gain, enter zero on this line.
Short-Term Capital Gains And Losses – STCG/(L)
Line 7: Total Current STCG/(L) Petroleum Business
Enter the total current-year short-term capital gains or losses associated with petroleum business activities.
Line 8: Non-Business STCG/(L) Petroleum Business
Enter the non-business short-term capital gains or losses associated with the petroleum business.
Line 9: Apportionable STCG/(L)
Subtract line 8 from line 7.
The result represents the petroleum business short-term capital gain or loss available for apportionment.
Line 10: Total Current STCG/(L) Other Business
Enter the total current-year short-term capital gains or losses associated with other business activities.
Line 11: Non-Business STCG/(L) Other Business
Enter the non-business short-term capital gains or losses associated with other business activities.
Line 12: Apportionable STCG/(L)
Subtract line 11 from line 10.
The result represents the other business short-term capital gain or loss available for apportionment.
Line 13: Non-Business STCG/(L) Allocable To Alaska
Enter short-term non-business capital gains or losses that are directly allocable to Alaska.
Line 14: Alaska Capital Loss Carryover Utilized And Carryback Utilized
Enter the applicable Alaska capital loss carryover and carryback amounts used during the current tax year.
Identify the relevant carryover and carryback years in the spaces provided. Enter the total amount utilized on this line.
Line 15: Net STCG/(L)
Add lines 9, column C, 12, column C, 13, and 14.
The result represents the corporation’s net Alaska short-term capital gain or loss.
Long-Term Capital Gains And Losses – LTCG/(L)
Line 16: Total Current LTCG/(L) Petroleum Business
Enter the total current-year long-term capital gains or losses associated with petroleum business activities.
Line 17: Non-Business LTCG/(L) Petroleum Business
Enter the non-business long-term capital gains or losses associated with petroleum business activities.
Line 18: Apportionable LTCG/(L)
Subtract line 17 from line 16.
The result represents the petroleum business long-term capital gain or loss available for apportionment.
Line 19: Total Current LTCG/(L) Other Business
Enter the total current-year long-term capital gains or losses associated with other business activities.
Line 20: Non-Business LTCG/(L) Other Business
Enter the non-business long-term capital gains or losses associated with other business activities.
Line 21: Apportionable LTCG/(L)
Subtract line 20 from line 19.
The result represents the other business long-term capital gain or loss available for apportionment.
Line 22: Non-Business LTCG/(L) Allocable To Alaska
Enter the long-term non-business capital gains or losses directly allocable to Alaska.
Line 23: Amount From Line 5
Transfer the amount calculated on line 5.
This amount represents the adjusted Section 1231 gain after accounting for eligible prior-year losses.
Line 24: Net LTCG/(L)
Add lines 18, column C, 21, column C, 22, and 23.
The result represents the corporation’s net Alaska long-term capital gain or loss.
Capital Gain And Loss Summary
Line 25: Excess Net Short-Term Capital Gain Over Net Long-Term Capital Loss
Compare line 15 with line 24.
Enter the amount by which the net short-term capital gain on line 15 exceeds the net long-term capital loss on line 24.
Line 26: Excess Net Long-Term Capital Gain Over Net Short-Term Capital Loss
Compare line 24 with line 15.
Enter the amount by which the net long-term capital gain on line 24 exceeds the net short-term capital loss on line 15.
Line 27: Section 1231 Loss Or Amount From Line 6
If line 3, column C, shows a loss, enter that loss amount here.
If line 3, column C, shows a gain, transfer the amount calculated on line 6.
Line 28: Total Alaska Capital And Section 1231 Gains (Losses)
Add lines 25 through 27.
Enter the resulting amount on Schedule J, line 28, and transfer it to Schedule F, line 3a.
Schedule K: Alaska Charitable Contribution Deduction
Schedule K calculates the charitable contribution deduction available for Alaska tax purposes.
The schedule separates contributions between petroleum and other business activities and applies the relevant apportionment factors and deduction limitation.
It contains three columns:
- Column A: Petroleum — Petroleum business contribution amounts.
- Column B: Other Business — Other business contribution amounts.
- Column C: Total — Combined contribution and deduction amounts.
Line 1: Current Charitable Contributions
Enter the corporation’s current-year charitable contributions in the appropriate business columns.
Line 2: Education Credit Contributions
Enter applicable education credit contributions. Refer to the instructions to determine which contributions belong on this line.
Line 3: Subtract Line 2 From Line 1
Subtract the education credit contributions on line 2 from the current charitable contributions on line 1.
Enter the result in the appropriate columns.
Line 4: Apportionment Factors
Enter the applicable Alaska apportionment factors for petroleum and other business activities.
Use the relevant factors calculated on Schedules I-1 and I-2.
Line 5: Current Alaska Charitable Contributions
Multiply line 3 by line 4.
This calculation determines the portion of current charitable contributions attributable to Alaska.
Line 6: Alaska Charitable Contribution Carryover From Form 6385, Line 18
Enter the eligible Alaska charitable contribution carryover from Form 6385, line 18.
Line 7: Total Alaska Charitable Contributions
Add lines 5 and 6 in column C.
This produces the total Alaska charitable contribution amount before applying the deduction limitation.
Line 8: Taxable Income For Deduction Limitation Purposes
Enter the taxable income amount used to determine the charitable contribution deduction limitation.
Refer to the instructions for the required calculation.
Line 9: Multiply Line 8, Column C By 10%
Multiply the total amount reported in line 8, column C, by 10%.
Enter the result as the deduction limitation amount.
Line 10: Alaska Charitable Contribution Deduction
Enter the smaller of line 7 or line 9.
This is the allowable Alaska charitable contribution deduction.
Transfer the amount to Schedule F, line 3b.
Schedule L: Alaska Dividends-Received Deduction (DRD)
Schedule L calculates the Alaska dividends-received deduction for eligible dividend income included in the corporation’s combined income.
The schedule first identifies dividend income that is not eligible for the deduction. It then calculates eligible apportioned dividends and applies the applicable deduction percentages.
The first part contains three columns:
- Column A: Petroleum — Dividend amounts associated with petroleum business activities.
- Column B: Other Business — Dividend amounts associated with other business activities.
- Column C: Total — Combined dividend amounts.
Dividend Income And Eligibility
Line 1: Dividend Income Included In Combined Income
Enter the dividend income included in the corporation’s combined income.
Report the applicable petroleum and other business amounts in their respective columns.
Line 2a: Intercompany Dividends Deducted On Schedule G Or H
Enter intercompany dividends that were already deducted on Schedule G or Schedule H.
These amounts are classified as not eligible for the dividends-received deduction.
Line 2b: Section 78 Gross-Up Dividends Deducted On Schedule G Or H
Enter Section 78 gross-up dividends that were deducted on Schedule G or Schedule H.
These amounts are also treated as ineligible for the dividends-received deduction.
Line 2c: Dividends Deducted As Non-Business Income
Enter dividends that were already deducted as non-business income.
These amounts are not eligible for the dividends-received deduction calculated on this schedule.
Line 2d: Total Dividends Not Eligible For DRD
Add lines 2a through 2c.
Enter the total dividend amount that cannot be used when calculating the dividends-received deduction.
Line 3: Total Dividends Eligible For DRD
Subtract line 2d from line 1.
The result represents the dividend income eligible for further dividends-received deduction calculations.
Line 4: Apportionment Factors
Enter the applicable Alaska apportionment factors for petroleum and other business activities.
Use the appropriate factors calculated on the relevant apportionment schedules.
Line 5: Apportioned Dividends
Multiply line 3 by line 4.
Enter the resulting apportioned dividend amounts.
Line 6: Dividends Allocable To Alaska Included On Schedule F, Line 2
Enter dividends directly allocable to Alaska that are included in the non-business income reported on Schedule F, line 2.
Line 7: Total Dividends Included In Taxable Income
Add lines 5 and 6 in column C.
This produces the total dividend amount included in taxable income for purposes of the remaining deduction calculation.
Dividends-Received Deduction Calculation
The second part of Schedule L uses three columns:
- Column A: Apportioned Dividends — Enter the eligible dividend amount for each deduction category.
- Column B: Percentage — Enter the applicable deduction percentage.
- Column C: DRD (A Times B) — Multiply the apportioned dividends by the applicable percentage.
Line 8a: Dividends Qualifying For 100% Deduction
Enter the apportioned dividend amount that qualifies for a 100% dividends-received deduction in column A.
The percentage is already specified as 100% in column B.
Multiply column A by column B and enter the result in column C.
Line 8b: Dividends Qualifying For 65% Deduction
Enter the apportioned dividend amount qualifying for a 65% deduction in column A.
Use the specified 65% percentage in column B.
Multiply the dividend amount by 65% and enter the result in column C.
Line 8c: Dividends Qualifying For 50% Deduction
Enter the apportioned dividend amount qualifying for a 50% deduction in column A.
Multiply this amount by the specified 50% percentage and enter the result in column C.
Line 8d: Dividends Qualifying For 26.7% Deduction
Enter the apportioned dividend amount qualifying for a 26.7% deduction in column A.
Apply the 26.7% percentage shown in column B and enter the resulting deduction in column C.
Line 8e: Dividends Qualifying For 23.3% Deduction
Enter the apportioned dividend amount qualifying for a 23.3% deduction in column A.
Multiply this amount by 23.3% and enter the result in column C.
Line 8f: Other, If Applicable
Enter any other qualifying dividend amount that does not fall into the preceding categories.
If this line applies, enter the appropriate deduction percentage in column B.
Multiply the amount in column A by the percentage in column B and enter the resulting deduction in column C.
Line 9: Tentative Dividends-Received Deduction
Add the amounts reported in column C on lines 8a through 8f.
Enter the total tentative dividends-received deduction.
Refer to the applicable instructions for any additional requirements governing the calculation.
Final Review Before Filing
Before submitting Form 6150, review the entire return and confirm that all applicable schedules, calculations, and supporting information have been completed.
Use the following checklist to identify common omissions and calculation errors.
Corporation Information
- Confirm that the corporation’s legal name and EIN are correct.
- Verify the NAICS code.
- Check that the mailing address, contact person’s name, telephone number, and email address are accurate.
- Select the new address checkbox if applicable.
- Confirm that the correct tax year or fiscal year dates are entered.
- Review all applicable return information checkboxes.
- Complete the amended return options when filing an amended return.
Consolidated Reporting
- List every additional corporation with Alaska nexus included in the consolidated return.
- Verify each corporation’s EIN, name, address, and NAICS code.
- Check the applicable Public Law 86-272 and Other Business boxes.
- Select the relevant property, sales, extraction, and payroll factor categories.
- Provide federal consolidated group parent information when applicable.
- Complete the successor business information when required.
- Explain any changes from the previous year’s corporation name or EIN.
Income And Tax Calculations
- Verify Schedule A, line 1, against Schedule F, line 4.
- Confirm that eligible Alaska net operating loss carryovers are reported correctly.
- Check that Schedule D uses the appropriate Alaska tax rate table.
- Verify that Schedule E includes all applicable other taxes.
- Confirm that Schedule F reflects the correct petroleum and other business income.
- Review all additions and subtractions on Schedules G and H.
- Confirm that the appropriate apportionment factors are used on Schedules I-1 and I-2.
- Verify the capital gain and loss calculations on Schedule J.
- Check the charitable contribution deduction on Schedule K.
- Verify the dividends-received deduction on Schedule L.
Payments And Credits
- Check all four estimated tax payment entries on Schedule C.
- Verify the dates and amounts of estimated payments.
- Include applicable extension payments.
- Account for prior-year overpayments.
- Include applicable quick refunds from Form 6230.
- Complete amended-return payment adjustments when applicable.
- Verify Alaska incentive credits from Form 6300.
- Verify federal-based credits from Form 6390.
- Review the prior minimum tax credit entry on Schedule A, line 11.
- Check whether an estimated tax underpayment penalty applies.
Supporting Documents
- Attach Form 1120S if the S Corporation checkbox is selected.
- Attach Form 6220 if Schedule A, line 9, exceeds $500.
- Include the required supporting schedules for non-business income.
- Attach explanations for other additions and subtractions where requested.
- Include the relevant supporting information for charitable contributions and dividends.
- Verify that all referenced federal forms and Alaska supporting forms have been completed where applicable.
Final Return Verification
- Confirm that Schedule A, line 15, correctly reflects the final amount due or overpayment.
- If line 15 is greater than zero, follow the form’s instruction to stop at that line.
- If there is an overpayment, verify the amount credited to 2026 estimated tax and the remaining refund calculation.
- Confirm that the authorized corporate officer has signed and dated the return.
- Verify the officer’s title.
- Complete the paid preparer’s information when applicable.
- Review the preparer discussion authorization checkbox.
- Confirm the current Alaska Department of Revenue filing procedure, deadline, and submission destination before sending the return.
Completing these checks helps ensure that Form 6150 contains the necessary corporate information, income calculations, apportionment details, deductions, credits, and payment records before submission.