Alaska Overhauls Tax Credit System

摘要

A bill that the Alaska Oil & Gas Association asserts will cause oil and gas companies to rethink their investment strategies in the state has been sent to Governor Bill Walker. AOGA predicts the bill will lead to less money for projects and fewer employed Alaskans. On July 15, the Alaska Legislature approved HB 111, introduced by the House Resources Committee. According to the state legislative website, under the bill, Alaska will stop offering transferrable or cashable tax credits for North Slope oil and natural gas projects. Instead, companies will be expected to carry forward their losses until they owe a tax liability to the state, at which time the credits can be used to offset oil or gas production taxes. The bill also expands a company's ability to use or transfer credit certificates to offset tax liabilities.