(a) If contributions are not paid on the date on which they are due, the amount remaining unpaid bears interest at the rate of 12 percent per year from the due date until payment plus accrued interest is received by the department. Interest collected under this section shall be deposited in the clearing account of the unemployment compensation fund.
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Terms Used In Alaska Statutes 23.20.185

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • employer: means (A) an employing unit which for some portion of a day within the calendar year has or had in employment one or more individuals. See Alaska Statutes 23.20.520
  • employment: includes services described in this subparagraph and (A) of this paragraph only if
    (i) the contract of service contemplates that substantially all of the services are to be performed personally by the individual. See Alaska Statutes 23.20.525
  • Executor: A male person named in a will to carry out the decedent
  • fund: means the unemployment compensation fund established by this chapter. See Alaska Statutes 23.20.520
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • state: includes the states of the United States of America, the District of Columbia, the Commonwealth of Puerto Rico, and the Virgin Islands. See Alaska Statutes 23.20.520
  • Trustee: A person or institution holding and administering property in trust.
(b) Interest does not accrue on contributions from an estate in the hands of a receiver, executor, administrator, trustee in bankruptcy, common law assignee, or other liquidating officer after the date when the officer qualifies. However, contributions accruing with respect to employment of a person by the officer are due and draw interest in the same manner as contributions due from other employers.
(c) Payments of contributions erroneously paid to an unemployment compensation fund of another state which should have been paid to this state and which are refunded by the other state and paid by the employer to this state shall be considered paid to this state at the date of payment of the other state.
(d) Interest collected under this section shall periodically be transferred from the clearing account to the training and building fund.
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