Tag: oil taxes

Governor’s budget proposes major changes to oil tax credits

The governor's budget gets about half a billion dollars from the oil and gas industry, proposing deep cuts to the state's system of oil and gas tax credits.

Report recommends limited changes to oil tax credits

The state paid out more than half a billion dollars in refundable tax credits this past year -- and gave up another half a billion in credits deducted from companies' tax liabilities. Download Audio

With $3B budget deficit, lawmakers eye oil tax credits

With the state facing a deficit next year of more than $3 billion, lawmakers face the always vexing question of what can be cut. One option on the table is reducing tax credits for oil and gas companies. Download Audio

Proposition 1

Alaska’s budget is based on oil taxes, and the Legislature changed the oil tax structure last year to allow the industry more income when prices are high. In August Alaska’s voters are being asked whether they want to repeal that change. APRN: Tuesday, June 1, at 10:00 a.m. Download Audio

Small Victories, Big Problems for Buccaneer In Alaska

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Since Buccaneer Energy arrived on the scene in Alaska in the summer of 2011, it has seen a few victories and a host of unexpected problems.

Senate Committee Introduces New Version Of Oil Tax Bill

At today’s prices, Alaska’s oil tax system can be compared to those of Norway, Russia, and Venezuela in terms of how much money it puts in state coffers. A plan introduced by the Senate finance committee today would change that. It’s a new version of the oil tax plan Governor Parnell introduced earlier this session.

Governor’s Oil Tax Plan Advances, With Changes

Gov. Sean Parnell's oil tax proposal advanced out of the Senate resources committee on Wednesday, with a few changes. Instead of setting the base tax rate at 25 percent, it bumps it to 35 percent.

Parnell Administration To Introduce New Oil Tax Reform Legislation

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The Parnell administration is poised to introduce oil tax reform legislation again. Previous attempts have failed to gain enough support to pass the state legislature. The new bill was previewed for the Fairbanks Chamber of Commerce Tuesday. It incorporates some ideas raised in recent year’s discussions.

Legislators Study ‘Rebalancing’ Taxes, Not Cutting Them

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In the legislative session that begins in January, members of the House and Senate will face several high priority issues. But at the top will be whether to change the state’s oil tax structure in hopes of encouraging more new production.

Legislators Expect Bill to Lower State Oil Taxes Next Session

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Among the issues legislators anticipate dealing with during next year’s session is a revived effort by the Parnell Administration to lower the state’s taxes on oil production.

Alaska News Nightly: August 9, 2011

ConocoPhillips Extends Natural Gas Plant Operations Until October, Jack-Up Rig in Kachemak Bay May Violate Federal Law, Legislators Expect Bill to Lower State Oil Taxes Next Session, Southcentral Moth Outbreak Devastates Berry Crops, and more...

Senate Finance Committee Examines Efforts to Lower Oil Taxes

The state Senate Finance committee is taking the first steps toward understanding what is expected to be a major point of contention during next year’s session -- a renewed effort by the Governor and members of the House of Representatives to lower oil taxes.

Alaska News Nightly: July 14, 2011

Conservationists Lend Support to Alaska’s Subsistence Whalers, Senate Finance Committee Examines Efforts to Lower Oil Taxes, Fairbanks Meets Deadline for Redistricting Challenge, U.S. House Passes Bill to Curtail EPA, and more...

Alaska News Nightly: June 25, 2008

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Alaskans are responding with disbelief to the Supreme Court decision today that slashes the Exxon Valdez punitive damages award. We have reactions from plaintiffs...