Alaska Statutes 43.20.141 – Income from sources in the state of nonresident partners

In determining the source of a nonresident partner’s income, effect may not be given to a provision in the partnership agreement that

(1) characterizes payments to the partner as being for services or for the use of capital;

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Terms Used In Alaska Statutes 43.20.141

Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060

(2) allocates to the partner, as income or gain from sources outside the state, a greater proportion of the partner’s distributive share of partnership income or gain than the ratio of partnership income or gain from sources outside the state to partnership income or gain from all sources; or

(3) allocates to the partner a greater proportion of a partnership item of loss or deduction connected to Alaska sources than the partner’s proportionate share, for federal income tax purposes of partnership loss or education generally.

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