"Standard Deduction" added to oil-tax vocabulary

The Senate finance Committee is working on a bill that re-writes the state’ tax on oil profits. Most legislators want some changes to the current method of raising revenue. But a new approach is beginning to emerge in the House that would simplify the tax system. The “Standard Deduction” was introduced and then withdrawn when the House Resources Committee was writing its version of the tax.

Dave Donaldson, APRN – Juneau