Alaska Regulations § 2 AAC 50.695 Reporting deferred income
Regulation Text
(a)
In a disclosure statement required by
AS
24.60.200
or
AS
39.50.020
, a legislative branch filer, public official, or candidate shall report any source of income earned but deferred for payment after the end of the reporting period.
(b)
Income reported as deferred when earned must also be reported as income in the year the money or item of value is received.
(c)
This section does not apply to earned income that a legislative branch filer, public official, candidate, or family member of the legislative branch filer, public official, or candidate voluntarily elects to defer into a tax-advantaged retirement savings plan, including a plan under
26 U.S.C.
401
(k)
, a plan under
26 U.S.C.
403
(b)
, an individual retirement account under
26 U.S.C.
408
(IRA)
, and a deferred compensation plan under
26 U.S.C.
457
of a state or local government or tax-exempt organization. An interest in a tax-advantaged retirement plan must be reported as a beneficial interest under
AS
39.50.030
(b)(4)
and
2 AAC 50.712
.
History
Eff. 12/22/2011, Register 200
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