Alaska Exploration Incentive Credit

Exploration Incentive Credit
Form 665
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) .

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3

4.

Enter 50% of line 3 .

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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 .

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Credit Allowed Against AS 43.65 Mining License Tax

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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

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6

7.

Enter the total Corporation Net Income Tax liability after certain credits (Form 6300, line 22) .

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7

8.

Enter 50% of line 7 .

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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) . . . . . . . . . . . . . . . . . . . . . . . . . .

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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

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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 .
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0405-665 02-01-16 - Page 4