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.
Alaska's gas pipeline tax bill conference committee weighs a new pass-through tax on oil and gas producers and a rewritten volumetric tax splitting revenue with communities.
Alaska Senate Finance Committee reviews fiscal analysis of proposed tax structure for Alaska LNG project, showing $18 billion combined revenue reduction over project life in exchange for improved global price competitiveness.
Senator Bert Stedman pressed the Alaska Senate Finance Committee to obtain standalone Phase 1 pipeline economics before acting on Alaska LNG tax relief. The special session ends in four days.
The Alaska Sustainable Energy Conference showcased progress on the Alaska LNG project while the legislature debated competing tax frameworks for the pipeline. Inside: SB 280, consumer-cost concerns, the critical-minerals permitting gap, AI data centers, and rural Alaska's $6.63 gasoline.
The Alaska LNG project would struggle to compete in global markets even under the governor's proposed tax relief, with breakeven prices at the high end of current futures markets, according to state modeling presented to the House Finance Committee on Thursday.
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 Alaska Senate convened Thursday to begin work on Senate Bill 2001, a comprehensive natural gas taxation package that addresses pipeline property taxes, municipal tax limits, and a new volumetric tax system.
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.
Alaska Senate Finance Committee demands actual commercial and financial data for proposed $46.2 billion gas pipeline before considering state investment role
A 2024 House bill would have let Alaskans trade their future Permanent Fund dividends for three years of payments. It cleared one committee with almost no support, stalled in House Finance, and died with the Legislature.
The Alaska Senate Resources Committee advanced Senate Bill 280, a gas pipeline tax structure bill, after two months of hearings despite concerns about limited project information and lack of administration support.
The Alaska Senate Resources Committee heard Department of Revenue analysis showing that raising the oil production tax minimum floor from 4% to 6% would generate an average of $132 million annually in additional state revenue from fiscal years 2027 through 2036, though complex interactions with tax credits could produce a negative revenue impact in some years.
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.
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.
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.
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.
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 Alaska House voted Wednesday to accept Senate changes to a corporate income tax bill updating how certain businesses apportion taxable income to Alaska.
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 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.
Department of Revenue modeling shows that if the Alaska LNG project costs $60 billion instead of the baseline $46.2 billion, the price needed to break even in global markets would jump by $1.60 per thousand cubic feet, significantly affecting project viability and the state's fiscal analysis of competing tax proposals.
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.
The Alaska House Finance Committee heard Thursday that the governor's version of HB 381 would reduce municipal property tax revenue from the Alaska LNG project by over $13 billion compared to current law, while the House Resources version would actually increase municipal revenue by retaining property tax on the gas treatment plant and LNG facility.
Alaska Marijuana Control Board denies cultivation license renewal for Alaskasense, LLC due to $633,009 in unpaid marijuana excise taxes, ordering facility closure within ten days
State economist Dan Stickel told a legislative conference committee Friday that the Senate version of HB 381 reduces the Alaska LNG export break-even price from $9.05 to $8.62 per thousand cubic feet — still above current futures market prices near $8 — prompting Rep. Justin Ruffridge to say the project simply "doesn't work."
The Alaska Senate added a corporate income tax on oil and gas pass-through entities like Hilcorp to the AK LNG gas-pipeline bill (HB 381), effective 2028 regardless of the project.
Alaska North Slope crude is running above the state's Spring 2026 forecast, hinting at surplus revenue — but the forecast itself assumes a late-year jump to $91 a barrel.
Alaska Department of Revenue modeling shows the Alaska LNG project could cost the state $16.2 billion through 2062 under worst-case production scenarios combining Prudhoe Bay oil losses with Point Thompson underperformance at $100 per barrel oil prices.
by Walter AlaskaNewsadded 3d ago3 min readAI
