Form 6150 Fillable Oil and Gas Corporation Net Income Tax Return Under 15 AAC 20.241 (c)
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Amended return to report IRS audit or Form 1120X applies (factor relief for certain taxpayers) Attorney General s opinion dated 10/20/99 Less: Overpayment previously credited to 2016 Less: Refund from original return and additional Tax paid with original return and additional tax paid Taxpayer produces oil or gas in Alaska Taxpayer transports oil or gas in Alaska This is a protective claim Under 15 AAC 20 421 (c) (if less than 3 factors are used see instructions) (loss) 0405 6150 Rev 01/01/16 page 1 1 ALASKA CONSOLIDATED RETURNS ONLY: LIST ALL CORPORATIONS OTHER THAN THE TAXPAYER SHOWN ON PAGE 1 WITH 2 If any taxpayer included in this return is included in a federal consolidated return (Form 1120) provide the name address and EIN of the common 3 If this is the first return indicate if: Successor to previously existing business (Enter name address and EIN of previous business) 4 Name and EIN on the prior year s return if different from page 1 State the reason for the change (e g merger name change etc ) 80% of dividends received from foreign corporations 80% of royalties accrued or received from foreign corporations Add lines 1C and 2C Consolidated Section 1231 gain (loss) Add lines 25 27 Enter here and on Schedule F line 3a Add lines 4 8 and 12 Add lines 4 8 Enter here and on Schedule A line 5 Add lines 5 6 column C Add: Federal taxable income (loss) of corporations not included in line 1 Add: Foreign corporations Additions Address Address Address Adjustment for in state oil refinery expenditures under AS 43 20 053 AK factor Alaska (attach schedule) Alaska capital and Section 1231 gain (loss) from Schedule J line 28 Alaska capital loss carryover utilized ( ) carryback utilized ( ) Total Alaska charitable contribution carryover from Form 6385 line 18 Alaska charitable contribution deduction Enter the lesser of line 7 or line 9 here and on Schedule F line 3b Alaska charitable contribution deduction from Schedule K Alaska credit for prior year minimum tax (see instructions) Alaska dividends received deduction (see instructions) Alaska Gain or Alaska incentive credits applied against tax from Form 6300 line 45 Alaska incentive credits claimed as refund from Form 6300 line 36 Alaska income (loss) from Schedule F line 4 Alaska income tax Add lines 4 5 Alaska income tax from Schedule D line 7 Alaska Items Alaska net capital gain Excess net long term capital gain line 24 over net short term capital loss line 15 Enter Alaska net operating loss utilized: carryover ( ) carryback ( ) Total Alaska non recaptured Section 1231 losses from prior years Enter as a positive number Alaska Oil and Gas Corporation Net Income Tax Return Alaska taxable income (loss) before net operating loss Add lines 1 2 column C and line 3d Enter here and Alaska taxable income Add lines 1 2 Alaska taxable income from Schedule A line 3 Alternative minimum tax from federal Form 4626 Amended return Amended return only: Amount applies Apportionable business income (loss) Subtract line 5k from line 4 Apportionable income (loss) Subtract line 6j from line 5 Apportionable LTCG/(L) Subtract line 17 from line 16 Apportionable LTCG/(L) Subtract line 20 from line 19 Apportionable STCG/(L) Subtract line 11 from line 10 Apportionable STCG/(L) Subtract line 8 from line 7 Apportioned Apportioned dividends Multiply line 3 by line 4 Apportioned income (loss) from Other Business Apportioned income (loss) from Petroleum Business Apportioned income (loss) from Schedules G and H Apportionment factor Divide line 13 by 3 Apportionment factor Divide line 13 by 3 or 2 as applicable Apportionment factor from Schedule I 1 line 14 Apportionment factor from Schedule I 2 line 14 Apportionment factors Apportionment factors Business Carryback is waived for net operating loss Check all boxes that apply Check if Check if the DOR may discuss this return Combined Reporting Consolidated Alaska return Contact Email Address Contact Fax Number Contact Person Contact Telephone Number Cost depletion Current Alaska charitable contributions Multiply line 3 by Current charitable contributions Current Section 1231 gains and (losses) other business Current Section 1231 gains and (losses) petroleum business Depreciation allowable Dividend income included in Schedule G or H line 1 Dividends Dividends allocable to Alaska included on Schedule F line 2 Dividends deducted as non business income Dividends qualifying for 100% deduction Dividends qualifying for 42% deduction Dividends qualifying for 48% deduction Dividends qualifying for 70% deduction Dividends qualifying for 80% deduction DRD (A times B) Education credit contributions (see instructions) Enter amount from line 5 Enter the lesser of line 6 column A or B here and on Schedule A line 4 Estimated Payments Excess net short term capital gain line 15 over net long term capital loss line 24 Exempt organization with UBTI Expenses incurred to produce non business income Extraction Extraction everywhere Extraction factor Divide line 6 by line 7 Extraction within Alaska Factor numerators to be reported: property sales extraction payroll Factor numerators to be reported: property sales extraction payroll Federal based credits from Form 6390 line 33 Federal charitable contributions from federal Form 1120 line 19 Federal depreciation Federal extension is in effect Federal Form 1120 line 8 capital gain income Federal taxable (income) loss of corporations with U S factors of less than 20% Federal taxable (income) loss of non unitary corporations Federal taxable income (loss) (see instructions) Federal taxable income (loss) of corporations not included in line 1 Final Alaska return First For calendar year 2015 or the taxable year beginning 2015 ending 20 Foreign corporations with 20% or greater U S factors Form 6150 Form 6150 Form 6150 Form 6150 Form 6150 Fourth Gains (Losses) here and on Schedule D line 2 I declare under penalty of perjury that I have examined this return including accompanying schedules and If amended return box above is checked then check the following boxes if applicable: If line 3C is a gain enter the lesser of line 3C or line 4 here and on line 27 otherwise enter zero If line 3C is a gain subtract line 4 from line 3C but not less than zero Enter here and on line 23 If line 3C is a loss enter here otherwise enter the amount from line 6 Income from tax haven corporations and any FSC profit Intangible drilling and development costs expensed for federal purposes Intangible drilling costs allowable Intercompany dividends Intercompany dividends deducted on Schedule G or H Intercompany eliminations (see instructions) Interest from obligations of the U S government Interest from obligations of the United States Less: Quick Refund from Form 6230 line 10 line 4 Long term Capital Gains and Losses LTCG/(L) Mailing Address Check if new address Multiply line 1 by line 2 Multiply line 3 column C by 18% Multiply line 6 by line 7 Enter here and on Schedule F line 1 column A Multiply line 7 by line 8 Enter here and on Schedule F line 1 column B Multiply line 8 column C by 10% NAICS Code Name of each corporation with nexus in Alaska Net Alaska income tax Subtract the sum of lines 7 8 from line 6 If more than $500 attach Form 6220 Net capital gain from Schedule J line 26 Net income before state modifications and adjustments Add lines 1 and 2g Net LTCG/(L) Add lines 18C 21C 22 and 23 Net Section 1231 losses from federal Form 4797 line 11 Net STCG/(L) add lines 9C 12C 13 and 14 NEXUS IN ALASKA INCLUDED IN THIS RETURN FAILURE TO PROPERLY COMPLETE MAY RESULT IN PENALTIES Non business income (attach schedule) Non business income (loss) net of expenses allocable to Non business LTCG/(L) allocable to Alaska Non business LTCG/(L) other business Non business LTCG/(L) petroleum business Non business STCG/(L) allocable to Alaska Non business STCG/(L) other business Non business STCG/(L) petroleum business Non recaptured Section 1231 losses from prior years from federal Form 4797 line 12 Not Eligible Officer s Signature Oil and Gas Producing Companies only skip lines 9 12 Go to line 13 Oil and gas service industry expenditures (see instructions) Oil and Gas Transportation Companies only skip lines 5 8 Go to line 9 on Schedule A line 1 Ordinary income Subtract line 2 from line 1 If less than zero enter zero Other Other (attach schedule) Other (attach schedule) Other Business Other Business Other if applicable (enter % in column B) Other taxes (see instructions) Other taxes from Schedule E line 8 Overpayment credited to 2016 estimated tax (enter as positive number) Overpayment from prior year P L 86 272 Page 10 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 parent of the federal consolidated group Payment with extension Payments from Page 3 Schedule C Payroll Payroll everywhere Payroll factor Divide line 6 by line 7 Payroll within Alaska Penalty for underpayment of estimated tax (see instructions) Percentage Percentage depletion deducted for federal purposes Personal Holding Company Personal Holding Company tax (see instructions) Petroleum Petroleum Phone preparer (other than taxpayer) is based on all information of which preparer has any knowledge Preparer firm s name (or yours if Preparer s Signature Preparer s SSN or PTIN Property Property everywhere Property factor Divide line 2 by line 3 Property within Alaska Property within Alaska Public Law 86 272 applies Reason Refund Add lines 15 16 refunds Return Information (check applicable boxes) S Corporation (attach Form 1120S) Sales Sales everywhere Sales factor Divide line 10 by line 11 Sales within Alaska Sales within Alaska SCHEDULE A NET INCOME TAX SUMMARY SCHEDULE B ALASKA TAXPAYER INFORMATION SCHEDULE C TAX PAYMENT RECORD SCHEDULE D ALASKA TAX COMPUTATION SCHEDULE E OTHER TAXES SCHEDULE F PETROLEUM AND OTHER UNITARY BUSINESS TAXABLE INCOME SCHEDULE G COMPUTATION OF ALASKA INCOME Petroleum SCHEDULE H COMPUTATION OF ALASKA INCOME Other Business SCHEDULE I 1 PETROLEUM BUSINESS SCHEDULE I 2 OTHER BUSINESS SCHEDULE J ALASKA CAPITAL AND SECTION 1231 GAINS AND LOSSES SCHEDULE K ALASKA CHARITABLE CONTRIBUTION DEDUCTION SCHEDULE L ALASKA DIVIDENDS RECEIVED DEDUCTION (DRD) Second Section 1231 Gains and Losses Section 78 gross up dividends Section 78 gross up dividends deducted on Schedule G or H self employed self employed) and address Short Term Capital Gains and Losses STCG/(L) State State State State statements and to the best of my knowledge and belief it is true correct and complete Declaration of Subtract line 2 from line 1 Subtractions Summary Tax due (overpaid) Subtract the sum of lines 10 12 from line 9 Tax on early cessation of operations gas storage facility Tax on early cessation of operations LNG storage facility Tax on net capital gain Multiply line 2 by 4 5% Tax on ordinary income Use Tax Rate Table to calculate tax on line 3 Tax Rate Table is contained in instructions Taxable income for deduction limitation purposes (see instructions) Taxes based on or measured by net income Tentative dividends received deduction Add lines 8a 8f column C (see instructions) Third Title Total Total Total Add lines 1 2e and 3j Total Add lines 3 and 4h Total Add lines 3a 3c Total additions Add lines 3a 3i Total additions Add lines 4a 4g Total adjustments for combined reporting Add lines 2a 2d Total adjustments for combined reporting Add lines 2a 2f Total amount due (overpaid) Add lines 13 14 If greater than zero STOP Total current LTCG/(L) other business Total current LTCG/(L) petroleum business Total current STCG/(L) other business Total current STCG/(L) petroleum business Total dividends eligible for DRD Subtract line 2d from line 1 Total dividends included in taxable income Add lines 5 6 of column C Total dividends not eligible for DRD Add lines 2a 2c Total estimated tax payments Total net payments to Schedule A line 10 Total of line 1 column C Total of line 5 column C Total of line 9 column C Total property extraction and sales Add lines 4 8 and 12 Total subtractions Add lines 5a 5j Total subtractions Add lines 6a 6i Total tax Add lines 4 5 with the preparer (see instructions) Zip Code Zip Code Zip Code Zip Code