Cathy Giessel
62:43 - 63:33
"right now Glenfarn is a limited liability corporation. That means they're a pass-through entity, which means they pay no corporate tax to the state of Alaska on their profits"
“right now Glenfarn is a limited liability corporation. That means they're a pass-through entity, which means they pay no corporate tax to the state of Alaska on their profits”
- Speaker
- Cathy Giessel
- Timestamp
- 62:43 – 63:33
- Community
- Alaska News
- Location
- Alaska
- Captured at
- June 9, 2026
From the transcript
You know, right now Glenfarn is a limited liability corporation. That means they're a pass-through entity, which means they pay no corporate tax to the state of Alaska on their profits. We have seen modeling from our Department of of revenue that they will be making over $400— excuse me, $40 billion a year when this project comes into full production. I think we can thread both needles here by having the appropriate taxes, whether it's a 6 cents AVT or 12 cent, whether it's a pass-through entity tax, or whether we're addressing the 45Q credits, which haven't even been addressed by either the House or the Senate yet. These are complicated questions and we need more than 2.5 months, but we can do this.
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