0:40
Calvin Schrage
22:28 - 23:09
"Regarding the S-Corp pass-through entity tax, the committee exempts the Alaska Liquified Natural Gas Project to avoid, avoid further burdening an already marginal project and delays the effective date by one additional year, now 3 years, and it requires an informational tax return for year 2027."
“Regarding the S-Corp pass-through entity tax, the committee exempts the Alaska Liquified Natural Gas Project to avoid, avoid further burdening an already marginal project and delays the effective date by one additional year, now 3 years, and it requires an informational tax return for year 2027.”
- Speaker
- Calvin Schrage
- Timestamp
- 22:28 – 23:09
- Community
- Alaska News
- Location
- Alaska
From the transcript
Regarding the S-Corp pass-through entity tax, the committee exempts the Alaska Liquified Natural Gas Project to avoid, avoid further burdening an already marginal project and delays the effective date by one additional year, now 3 years, and it requires an informational tax return for year 2027. Ensuring the next legislature and the administration have real data, which has been lacking, to make needed adjustments in the future. I recognize the current language is not perfect, and we will likely need to reduce the tax rate to achieve parity. And go ahead and clip this: I am committed to doing exactly that and ready to work with members to get it across the finish line in the next legislature.