Alaska oil and gas tax credits
23 Apr 2015 Alaska Veterans' Memorial Endowment Fund Contribution Credit. [Repealed, Sec . 25 Ch 46 SLA 2002]. Section 23. Tax Credits for Certain 4 Jan 2019 Changes to the 'Sliding Scale' Tax Credit. For much of the first half of 2018, the uncertainty of Alaska's fiscal policy was an area of contention for It levies a 21.5 percent tax on an oil field's net cash flow and provides a 20 percent tax credit for all upstream capital investment that increases oil production. 5 Mar 2019 Fisheries Business Tax; Fishery Resource Landing Tax; Insurance Premium/Title Tax; Mining License Tax; Oil and Gas Production Tax 5 Jul 2018 As Alaska seeks to improve its financial standing it is turning to bonds to pay off $1 billion of tax credits it owes to oil and gas producers. But the
3 Jan 2019 “HB 331 was an innovative solution to the difficult problem faced by Alaska's oil and gas explorers, and I am pleased that the superior court has
Justices on the Alaska Supreme Court heard oral arguments Thursday morning in the lawsuit over oil and gas tax credit bonds that could have major ramifications for the state’s financial future. FAIRBANKS, Alaska (AP) — A new Alaska group hopes to overhaul the state's oil and gas tax credit system through a ballot initiative called the Fair Share Act, a report said. New oil and gas tax scheme threatens Alaska’s economy initiative petition application titled “An Act relating to the oil and gas production tax, tax payments, and tax credits.” Attorney Alaska Repealing Oil and Gas Credits? SB14 is a pre-filled Bill that was introduced January 7, 2019. It proposes to repeal certain credits to be used against the oil and gas production tax. Those credits are not named specifically but are referenced in Alaska Statute 43.55.024 . The Alaska Oil and Gas Production Tax has been changed multiple times, particularly over the last 12 years. And each change in the statutes brings additional changes—and complications—to the regulations that the Alaska Department of Revenue (DOR) issues to implement the tax. The tax credit plan – part of a package introduced by Gov. Bill Walker as the Alaska Economic Recovery Plan – allows the state to sell bonds to buy back accrued oil and gas company tax credits.
5 Jul 2018 As Alaska seeks to improve its financial standing it is turning to bonds to pay off $1 billion of tax credits it owes to oil and gas producers. But the
Title "An Act relating to credits against the oil and gas production tax; relating to taxes; relating to lease expenditures; relating to the oil and gas tax credit fund; 12 Sep 2019 Justices on the Alaska Supreme Court heard oral arguments Thursday morning in the lawsuit over oil and gas tax credit bonds that could have 21 Jan 2020 The campaign Vote Yes for Alaska's Fair Share filed signatures for a ballot The ballot initiative would tax oil production using an alternative gross tax credits to oil companies and made the oil production tax a flat, rather 26 Apr 2019 Alaska oil and gas. The reduction in tax credits coupled with the difficulties in legally establishing the Alaska Tax Credit Certificate Bond
5 Mar 2019 Fisheries Business Tax; Fishery Resource Landing Tax; Insurance Premium/Title Tax; Mining License Tax; Oil and Gas Production Tax
Welcome to Alaska's Department of Revenue. Skip to main content. State of Alaska State Employees; Alaska Department of Revenue - Tax Division. Tax Types Forms Reports Online Services About Tax Department of Revenue > Tax Division > Tax Types Alternative Oil and Gas Exploration Credits: Advisory Bulletin 2008-03, Taxability of Waste Oil
It levies a 21.5 percent tax on an oil field's net cash flow and provides a 20 percent tax credit for all upstream capital investment that increases oil production.
4 Jan 2019 Changes to the 'Sliding Scale' Tax Credit. For much of the first half of 2018, the uncertainty of Alaska's fiscal policy was an area of contention for
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. (Anchorage, AK) – Yesterday, the Alaska Superior Court granted the State’s motion to dismiss the complaint challenging HB 331—legislation that permits the State to issue bonds to pay down oil and gas tax credits. The superior court agreed with the State that the subject-to-appropriation bonds authorized in HB 331 did not create unconstitutional “state debt” for the purposes of the Article 9, section 8 of the Alaska Constitution. Last year, the Legislature ended the last of the large credits but still appropriated just the formulaic statutory minimum payment of $77 million to the Oil and Gas Tax Credit Fund amid larger battles over spending cuts and taxes to solve the state’s fiscal problems. In 2016, the state received $186 million in Oil Production Tax, and paid out $500 million in Production Tax Credits, for a total of -$314 million. Production Tax is predicted to be marginally positive in 2017 ($100 million) only because Governor Walker vetoed the payment of oil tax credits for this year. Home. News. Coalition of Alaska Business Leaders Oppose Latest Proposal to Increase Industry Taxes. Posted on February 25, 2020. Read More. McDowell Group’s latest oil and gas economic impact study: $4.8 billion in public and private sector payroll in 2018 . Posted on January 27, 2020. Read More. AOGA Comments to RCA re: Proposed Transfer of BP Pipelines Inc's interest in RCA-regulated