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Alaska Exploration Incentive Credit
Extracted from PDF file 2023-alaska-form-665.pdf, last modified January 2016Exploration Incentive Credit
Form 665 Alaska Exploration Incentive Credit Authority: AS 27.30 This form, along with the supporting schedules, must be filed by any taxpayer claiming an Exploration Incentive Credit against AS 43.65 Mining License Tax or AS 43.20 Corporation Net Income Tax. This form must be filed with the Alaska Mining License Tax Return or the Alaska Corporation Net Income Tax Return on which the Exploration Incentive Credit is claimed. Year Ending (Year/Month) FEIN SSN Name Contact Name Mailing Address Contact Phone City State ZIP Code Title Contact Email * If your business has not been issued a federal employer identification number (FEIN), you are required to provide your Social Security number (SSN). The information is used by the Alaska Department of Revenue for identification purposes. Exploration Incentive Credit Available . 1 2. Tentative Credit from Schedule C, line 3. If you have more than one Schedule C, enter the total of all Schedule Cs attached . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3. Enter the total mining license tax liability before credits (Form 662, line 2 or Form 662SF, line 17) . . 3 4. Enter 50% of line 3 . . 4 5. Exploration Incentive Credit. Enter the lesser of line 1, line 2, or line 4, and report on Form 662, line 3 or Form 662SF, line 18 (see note below) . . . . . . . . . . . . . . . . . . . . 5 1. Enter the total current year available Exploration Incentive Credit from Schedule A, column G . . Credit Allowed Against AS 43.65 Mining License Tax . . . . . . . . . . . . . . . . . . . . . . . . . Credit Allowed Against AS 43.20 Corporation Net Income Tax 6. Amount currently available as credit against corporate income tax. Subtract line 5 from line 1 . . . 6 7. Enter the total Corporation Net Income Tax liability after certain credits (Form 6300, line 22) . . . . 7 8. Enter 50% of line 7 . . . . 8 9. Exploration Incentive Credit. Enter the lesser of line 2, line 6, or line 8, and report on Form 6300, line 23 (see note below) . . . . . . . . . . . . . . . . . . . . . . . . . . 9 . . . . . . . . . . . . . . . . . . . . . . . NOTE: The sum of the current-year credits claimed against tax payments under AS 43.20, AS 43.65 and AS 38.05 may not exceed the total available Exploration Incentive Credit reported on line 1 above. 0405-665 02-01-16 - Page 1 665 Taxpayer Name C Amount Certified Date Certified Certified Exploration Expenditures B Amount Approved . Date Approved Exploration Incentive Credit Approved by the DNR Commissioner E Total Available Exploration Incentive Credits. Add amounts in column G. Enter here and on Page 1, line 1 . Description and Location of Mining Operation A D . . . . . . . . . . . . . Amount of Exploration Incentive Credit Claimed in Prior Years (Schedule B, Column H) F Alaska Exploration Incentive Credit Schedule A – Available Exploration Incentive Credits SSN FEIN Form 0405-665 02-01-16 - Page 2 Current Year Available Exploration Incentive Credit (Column D less Column F) G 665 Taxpayer Name Description and Location of Mining Operation A C Amount Claimed Year Claimed AS 43.65 Mining License Tax B Amount Claimed Year Claimed AS 43.20 Corporation Net Income Tax D E G Amount Claimed Year Claimed AS 38.05 Mineral Production Royalty Payments F Alaska Exploration Incentive Credit Schedule B – Exploration Incentive Credits Claimed in Prior Years SSN FEIN Form 0405-665 02-01-16 - Page 3 Total Credits Claimed (Columns B + D + F) H Form Alaska Exploration Incentive Credit 665 Taxpayer Name FEIN SSN Schedule C – Income from the Mining Operation Where the Exploration Activities Occurred Note: This schedule is used to report the income and expenses of the mining operation for which an Exploration Incentive Credit Certificate was issued by the Commissioner of the Alaska Department of Natural Resources. A separate schedule must be used for each mining operation for which an Exploration Incentive Credit is being claimed. Description and Location of Mining Operation 1. Taxable income from mining operation. Enter the amount from Form 662, Schedule A, line 7, or Form 662SF, line 16, that pertains to this mining operation . . . . . . . . . . . . . . . . 2. Computation of tax attributable to net income reported on line 1 1 $ . 2 $ Tentative Exploration Incentive Credit available for use against AS 43.65 Mining License Tax and AS 43.20 Corporation Net Income Tax. Enter 50%. . . . . . . . . . . . . . . . . . 3 $ a Less than or equal to $40,000. The tax is zero b Over $40,000 and less than or equal to $50,000. The tax is $1,200 plus 3% (.03) of the excess over $40,000 c Over $50,000 and less than or equal to $100,000. The tax is $1,500 plus 5% (.05) of the excess over $50,000 d Over $100,000. The tax is $4,000 plus 7% (.07) of the excess over $100,000 Tax . 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0405-665 02-01-16 - Page 4
Form 665
More about the Alaska Form 665 Other Tax Credit TY 2023
We last updated the Exploration Incentive Credit in February 2024, so this is the latest version of Form 665, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 665 directly from TaxFormFinder. You can print other Alaska tax forms here.
Other Alaska Other Forms:
TaxFormFinder has an additional 30 Alaska income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form 661i | Mining License Application Instructions |
| Form 662SF | Mining License Tax Return (Short Form) |
| Form 774 | Power of Attorney |
| Form 661 | Mining License Application |
| Form 773 | Electronic Filing Waiver Application |
View all 31 Alaska Income Tax Forms
Form Sources:
Alaska usually releases forms for the current tax year between January and April. We last updated Alaska Form 665 from the Department of Revenue in February 2024.
Form 665 is an Alaska Other form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
Historical Past-Year Versions of Alaska Form 665
We have a total of three past-year versions of Form 665 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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