Alaska's tax collection agency and home of the Permanent Fund Dividend Division. Manages state investment accounts, oil and gas taxation, and the PFD payout each fall.
Juneau, AK, USA
The House Finance Committee heard testimony Thursday on House Bill 381, which would replace traditional property taxes on the Alaska LNG pipeline with a 15-cent per thousand cubic feet volumetric tax, generating an estimated $577 million by 2033 while giving municipalities decision-making authority over gas treatment plants and LNG facilities.
Department of Revenue analysis shows increasing the North Slope gas production tax from 13% to 17% would generate $590 million over 30 years without affecting in-state gas prices due to existing tax ceiling protections.
The Senate Finance Subcommittee on the Department of Revenue forwarded a $485.1 million budget recommendation to the full Finance Committee, including new auditor positions and rejecting structural changes to the Alaska Permanent Fund Corporation.
Energy consultant tells House Resources Committee that proposed alternative volumetric tax in HB 381 would reduce delivered cost to Asia by roughly 20 cents per MMBtu compared to current property tax, potentially making the $46+ billion project more competitive globally while still generating stable municipal revenue.
The House Resources Committee received a Department of Revenue presentation on House Bill 381, which would replace property taxes on the Alaska LNG project with a 15-cent per thousand cubic feet volumetric tax on the pipeline, reducing the project's annual tax burden from nearly $750 million to roughly $200 million by 2033.
Alaska's budget reserve fund of $2.9 billion ranks as the second highest among all U.S. states according to analysis presented to the Senate Finance Committee.
Alaska Oil and Gas Association testified against multiple tax provisions in SB 280, warning that sections decoupling oil and gas lease expenditures and imposing new S-corp taxes could harm current operations and chill investment.
The House Resources Committee heard testimony on state equity participation in the Alaska LNG project and voted down nine amendments to a wildlife refuge consolidation bill, with most votes splitting 5-4 along party lines.
The Senate Finance Committee heard testimony on House Bill 280, which would shift Alaska's corporate income tax apportionment from cost-based to market-based sourcing, but took no action on the measure.
The Senate Finance Committee heard testimony on House Bill 280, which would shift Alaska's corporate income tax to market-based sourcing, a change expected to generate $15 million annually by taxing out-of-state companies based on where Alaska customers receive services.
Department of Revenue warns that regulatory interpretations of Senate Bill 280's complex tax provisions could shift Alaska's annual revenue by hundreds of millions of dollars, with the bill creating new taxes while exempting the Alaska LNG project from property taxes.
The State Assessment Review Board will hear property tax appeals in Anchorage from May 11-15, 2026, with videoconference options available.
The Alaska Retirement Management Board's committee will meet April 16 to discuss withdrawal options and funding scenarios for state retirement plans.
Alaska's Department of Revenue is seeking public comment through May 1, 2026, on potential improvements to Permanent Fund Dividend regulations.