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Can you summarize 15 AKAC 160.800?

Accounting and Recordkeeping > Promotional items.

Short Summary

(a) A permittee, operator, or licensed pull-tab distributor may receive or distribute a free promotional item, if the promotional item has little intrinsic value and no monetary exchange value. (b) An item with a discount that would reduce the item’s price substantially below fair market value is not a promotional item for purposes of this section, and will be considered a gift under 15 AAC 160.350 and 15 AAC 160.954 . Statutory Authority Authority: AS 05.15.060 (Eff. 7/30/94, Register 131; am 6/22/2008, Register 186)

Jurisdiction

Alaska

Source
15 AKAC 160.800 [https://reggi.cloud.regology.com/regulations/US-AKAC/US-AKAC_T_15_C_160_SC_8_S_800]