Jon Iversen: Tax Actions by the Alaska Legislature in 2022

In his most recent column for State Tax Notes, Jonathan Iversen looks at the bills that did and didn’t pass in the latest session of the Alaska State Legislature, which adjourned in May, and at what may be on the horizon.

Legislators introduced several bills that would have increased taxes on individuals or businesses in Alaska, none of which passed. Anchorage-based tax partner Iversen discusses several bills that did pass or were nearly passed:

• H.B. 104, which would have increased state motor fuel tax rates, was approved in the House but failed to clear the Senate.
• S.B. 33, which expands the seafood product development tax credit, was passed in the House and Senate, and the governor signed it into law on July 8.
• H.B. 411, which amended current law to allow municipalities to tax exemptions or deferrals, or economic incentives inside a service area, with the goal of promoting growth within the service area, was signed into law by the governor on October 9.
• H.B. 281, the state budget bill, was approved with appropriations for payment to companies that earned rebatable production tax credits or corporate income tax credits.

You can read the full article here.