Form 0405-662 - Mining License Tax Return - 2013 (Page 7 of 7) in pdf

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Name of Taxpayer or Business

Page 6

Schedule EC - Mining Business Education Credit

Recipient

Date

Amount

Total qualified contribution(s)

Multiply the lesser of line 1 or $100,000 by 50%

Enter 100% of the next $200,000 of contributions

Enter 50% of the contributions that exceed $300,000

Total credit. Add lines 2, 3 and 4

Total allowable credit. Enter here and on Page 1, line 4, the lesser of line 5 above or the

total tax reduced by total exploration incentive credits or $5,000,000

Explanation of Credit. Subject to limitations below, a taxpayer

Limitation. The Education Credit is limited to 50% of the first

is allowed a credit for cash contributions accepted by an Alaska

$100,000, 100% of the next $200,000 and 50% of contributions

university foundation or by a nonprofit (public or private) Alaska

that exceed $300,000. Contributions claimed as a credit on

two-year or four-year college accredited by a regional accreditation

this return cannot be claimed as a credit against other Alaska

taxes. The total allowable credit may not exceed $5 million. If a

association for direct instruction, research, and educational

support purposes, including library and museum acquisitions,

taxpayer is a member of an affiliated group (see AS 43.20.073),

and contributions to endowment; by a nonprofit (public or private)

then the total amount of credits may not exceed $5 million for the

Alaska two-year or four-year college accredited by a regional

affiliated group.

accreditation association for a facility or annual intercollegiate

sports tournament; by a school district in the state for secondary

school level vocational education courses, programs and facilities;

by a state-operated vocational technical education and training

school for vocational education courses, programs and facilities;

by a nonprofit agency for Alaska Native cultural/heritage programs

and educational support, including mentoring and tutoring, for

public school staff and for students in grades kindergarten through

12 in the state; and by an institution that is located in the state and

qualifies as a coastal ecosystem learning center under the Coastal

American Partnership established by the federal government for

education, research, rehabilitation, and facilities.

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0405-662 Rev 10/04/13 - page 7

Form 0405-662 - Mining License Tax Return - 2013 Page 7