Alaskan Tax Proposal Doesn't Make The Cut

March 2006 | Legal News

An Alaskan legislative committee has abandoned a proposal to retrospectively apply a forthcoming tax bill, disappointing architects of the state's revised tax legislation and raising concerns that the bill may not be as palatable to producers. Alaska's Governer Frank Murkowski wanted to allow oil firms to deduct 100% of the value of their oil field investments since 2001 from their current tax bills, therefore going some way to offset the increase in taxes. Rumblings of discontent forced a rewrite of these proposals, with the new proposals staggering the tax write-offs to 75% of 2005 investment, 50% of 2004 and 25%

If you would like to subscribe to Americas Oil and Gas Insight and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to Americas Oil and Gas Insight please click on the trial link below.