Time is REALLY short so how can you help? Immediate ask: We would like everyone on the list to pen a letter of support for Senate Bill 114 to the Senate Finance Committee. You should copy your House members as well. You can send a message to the Senate Finance [Read More...]
Alaska State Senate Rules Committee Senator Bill Wielechowski, Chair Senate Bill 114 Sponsor Statement SB 114 addresses two existing deficiencies with Alaska’s oil tax laws through reasonable reforms. Closing the S-Corp Tax Loophole In 1958 Congress established the S Corporation (S-Corp) tax classification of the IRS tax code to benefit [Read More...]
According to the Spring Revenue Forecast by the Department of Revenue, the State of Alaskawill have a $1 billion shortfall next year. We are facing a fiscal crisis. Senate Bill 114, the OilRevenue Reform bill, represents a new bi-partisan approach to fix two major oil tax loopholes.These Oil tax loopholes [Read More...]
FOR IMMEDIATE RELEASE March 24, 2023 JUNEAU – The Senate Rules Committee introduced legislation today to fix several flaws in Alaska’s oil tax structure. Senate Bill 114 would level the playing field by having all oil producers pay the same corporate income tax rate as corporations at 9.4%. This would only [Read More...]
Alaska's Largest Weekly Paper Says "Vote YES on Measure 1" FOR IMMEDIATE RELEASE November 2, 2020 Contact: campaign manager David Dunsmore (907)278-8000 (headquarters) or (907)830-4288 (cell) Last week supporters of Ballot Measure1, Alaska's Fair Share Act, scored yet another major endorsement as the Anchorage Press published an editorial urging a [Read More...]
Q1 "You have made the statement that the passage of this ballot measure would create thousands of Alaskan jobs. Can you expand on this? I don’t understand what jobs would be created. Are you talking about additional State employees? I thought that the main purpose of the ballot [Read More...]
(THE FAIR SHARE ACT) Ballot Measure 1 (the Fair Share Act) will amend the current and failed production tax system enacted through Senate Bill 21 (SB21). The Fair Share Act will transparently increase Alaskans’ share from the sale of our oil on average by $1.1 billion per year. Each of [Read More...]
Alaska's Oldest Continuously Operating Daily Says "Yes on Ballot Measure 1" FOR IMMEDIATE RELEASE November 1, 2020 Contact: campaign manager David Dunsmore (907)278-8000 (headquarters) or (907)830-4288 (cell) With two days left before polls close, supporters of Alaska's Fair Share scored a major endorsement today as the Fairbanks Daily News-Miner published an [Read More...]
Detailed Modeling Compares Existing Production Taxes with Alaska’s Fair Share Act Detailed Modeling by Former Tax Director of the Department of Revenue Compares Existing Production Taxes Under Senate Bill 21 with Ballot Measure 1 The comparison reveals the State has paid and owes more in cashable credits than it has received [Read More...]
This summarizes the six-step order of operations used to calculate production taxes for the Prudhoe Bay Unit (PBU) for 2018 under SB21 and the Fair Share Act. Under SB21, the total production taxes on production from the PBU in 2019 was $229.7 million on net income (net production value) of [Read More...]
