Jon Iversen is a partner based in Stoel Rives’ Alaska office who provides tax planning and tax structuring advice and represents clients in tax audits and appeals. One of the most highly rated attorneys in the state in his field, Jon has extensive experience counseling clients on state and local tax audits and appeals, incentives, and financing associated with Alaska’s oil and gas production tax credits. Jon also counsels national and international companies regarding economic development opportunities in the region, including unique issues presented by the Arctic.
Alaska’s oil and gas production tax has been subject to continuing debate and change as lawmakers and policymakers struggle with balancing budgets in times of volatile oil prices while also encouraging the investment necessary to monetize the state’s resources to run its government, create jobs, build and maintain infrastructure, and promote economic activity. In my … Continue Reading
Last Tuesday, Alaska voters rejected a referendum proposal that would have repealed oil and gas production tax legislation signed into law by Governor Sean Parnell in May 2013, known the "More Alaska Production" Act.… Continue Reading
Senate Bill 21, which was recently signed into law, significantly alters Alaska’s Oil and Gas Production Tax regime. Although discussions regarding this law have largely been focused on North Slope activity, other areas of the state are also affected. To understand the relevance of the amendments, it is useful to have a basic understanding of … Continue Reading
On January 16, 2013, Alaska Governor Sean Parnell introduced proposed legislation that would significantly alter Alaska’s Oil and Gas Production Tax regime. The current law, known as Alaska’s Clear and Equitable Share Act (“ACES”), was enacted in 2007 and is located in Alaska Statutes 43.55.011 et seq. This tax is levied on the net profits … Continue Reading