Monday, January 17, 2011

Parnell proposes changes to oil, gas tax

JUNEAU -- Gov. Sean Parnell is proposing sweeping changing to Alaska's oil and gas production tax. It's an effort that he says is aimed at boosting oil production and creating more jobs for Alaskans.

Among other things, the bill, proposed on the eve of the legislative session, would alter the tax rate assessed under the barely 3-year-old tax regime known as Alaska's Clear and Equitable Share, or ACES.

It would change the progressive surcharge -- or tax increase -- triggered when a company's net profits top $30 a barrel. It also would cap that surcharge at 50 percent of profits when oil prices top $92.50 a barrel.

House Republicans also have introduced legislation, theirs, setting a bracketed system for progressivity.
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