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
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Alaska Faces Challenges of COVID-19, Low Oil Prices and Increase in Production Tax
By Jonathan Iversen on
In my latest column for State Tax Notes, I look at the challenges that Alaska, and particularly the state’s oil and gas industry, has faced in 2020 thanks to the COVID-19 pandemic, low oil prices and the threat of a major increase to Alaska’s oil and gas production tax.
The state of Alaska is…
The Battle Over the Alaska Oil and Gas Production Tax Credit
By Jonathan Iversen on
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…
Alaska Voters Reject Referendum Regarding Oil and Gas Production Taxes
By Jonathan Iversen on
Last Tuesday, Alaska voters rejected a referendum proposal that would have repealed oil and gas production tax legislation signed into law by Governor Sean Parnell in May 2013, known the “More Alaska Production” Act.
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