Jonathan Iversen

Photo of Jonathan Iversen

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.

Subscribe to all posts by Jonathan Iversen

Jon Iversen: Trials of the Season

In my latest column for State Tax Notes, I provide an update on Alaska’s budget woes, on possible tax hikes and fiscal uncertainty still faced by the state’s taxpayers, and on the state’s ongoing inability to make payment to holders of over $700 million in rebatable oil and gas production tax credits. In 2020, Alaska’s … Continue Reading

Jon Iversen Discusses Alaska Supreme Court Decision Overturning Tax Credit Bond Program

In previous columns for State Tax Notes, I have discussed H.B. 331, which was passed by the Alaska State Legislature to remedy the state’s failure to pay off outstanding rebatable oil and gas production tax credits. However, the Bill faced numerous lawsuits, culminating in a Sept. 2020 Alaska Supreme Court ruling that the financing structure … Continue Reading

The Battle Over the Alaska Oil and Gas Production Tax Credit

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

Alaska Legislature Lowers Oil and Gas Production Taxes, Amends Incentives

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

Proposed Alaska Oil and Gas Production Tax Bill Would Reduce Tax Rates, Alter Credits

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
LexBlog