
Forrest Dunbar
42:56 - 43:24
"This would create a stepped system for taxable income in oil and gas pass-through entities, not just S corps but also LLCs and similar legal entities. This is necessary."
“This would create a stepped system for taxable income in oil and gas pass-through entities, not just S corps but also LLCs and similar legal entities. This is necessary.”
Thank you, Mr. President, and I appreciate Senator from Bethel for bringing this amendment forward. We have debated this extensively in this legislature. This legislature already passed a substantially similar amendment to another oil and gas bill. This would create a stepped system for taxable income in oil and gas pass-through entities, not just S corps but also LLCs and similar legal entities. This is necessary.
The Alaska Senate on Friday adopted a pass-through entity tax on oil and gas income with a 2028 effective date, after rejecting an immediate version 9-11, then passing HB 381 12-8 with the provision included.
