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Form 945 Anchorage Alaska: What You Should Know
You cannot deduct your withheld federal income tax from your Alaska tax return, unless the taxes were paid to “the IRS,” and were reported on IRS Form 945. However, you can deduct your Alaska state sales taxes from your Alaska state tax return. Your federal income tax return shows how much federal income tax was withheld from your paycheck. You pay the tax, which you figure out after it is withheld. It is a credit against your Alaska income tax. If you are paying the tax over time, then you get a “credit:” 1) the total amount you paid (including the tax refund from the refundable portion); 2) any amount that your Alaska state income tax would have been higher if it had been exempt from Federal income tax due to the exclusion from Alaska income tax; and 3) any additional amount the law requires you to pay under the federal tax law. The credit is on the amount shown on the tax return, not on the actual amount of the tax withheld during the year (that amount is shown on the 1099-MISC). If you don't have an Alaska state income tax return, you can use the following information: You have a payment of Alaska state income tax withheld from your paycheck by the Taxpayer Advocate Service (TAS). The amount withheld. Your gross amount of Alaska state income tax withheld as of the due date for filing or, if an extension is received, the date you pay your taxes. This form requires information on the tax year to which it relates, whether your income is in Alaska or not. For example, if you earn wages in Alaska during the year, the form requires information on your Alaska income tax paid before Alaska ends. Likewise, if you report capital gains income during the year and a capital gain is to be reported for income tax purposes in Alaska during the tax year, the form requires the date or dates of the capital gain, the basis for it, and the effective date. (For other tax information, see Pub 3251 or Tax Topic 1370). The form requires information on the following: 1. Income from all sources from which you were subject to a tax by any federal, state, or local tax law with respect to income, business activity, or property. 2.
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