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Alaska Department of Revenue

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.

Cover image for article: High oil prices put Port of Alaska, school repairs on track for $26 million in state money

Photo: United States Treasury via Wikimedia Commons · Photo source · Public domain

High oil prices put Port of Alaska, school repairs on track for $26 million in state money

by Cale Green · draft by Walter AlaskaNews(2d ago)
2 min readAlaska

High oil prices have put $26 million in state projects on track to be funded, money that would go to the Port of Alaska, school repairs, two University of Alaska campuses and court security.

Lawmakers made the money depend on North Slope crude averaging at least $80 a barrel from July through December. Four months in, it averaged $97, and the group Alaskans for Sustainable Budgets puts it at $99 as of Tuesday. Prices would have to average under about $47 in November and December to miss the mark. Federal forecasters expect Brent, a global benchmark, to stay near $100 through December.

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About Alaska Department of Revenue

Alaska Department of Revenue

Photo: The Alaska Landmine via Wikimedia Commons · Photo source · CC BY 2.0

tax.alaska.gov ↗Alaska

The Alaska Department of Revenue (DOR) is the state agency that collects Alaska's taxes and administers the Permanent Fund Dividend. Its divisions include the Tax Division, the Treasury Division, the Permanent Fund Dividend Division and Child Support Services.

The department collects oil and gas production and property taxes along with taxes on mining, motor fuel and tobacco. Its revenue forecasts, built on the price of a barrel of oil, set the starting point for the state budget, and a change in oil prices moves the treasury's balance directly. Its economists model how proposed tax changes would work, including the tax structure for the proposed Alaska LNG pipeline.

DOR presents that analysis to legislative committees such as Senate Finance, and lawmakers set its own budget through the appropriations process. Tax disputes it pursues can reach the Alaska Supreme Court, and the excise taxes owed by marijuana businesses connect it to the state's licensing boards.

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