Alaska lawmakers are pitching ways to close the state's gaping budget gap, from creating a state sales tax to cutting oil tax credits.
A long Costco line in Juneau in March 2020. Rep. Ben Carpenter is proposing a statewide sales tax that would be on top of any local taxes.
“It’s just really basic math — how are you going to make the math balance out? And it just doesn’t balance out at this point,” he said., would close the so-called “S-corp loophole.” That would require private corporations like Hilcorp to start paying the state corporate income tax of 9.4%. House Majority members expressed doubts about the bill during a news conference on Tuesday. House Resources Committee Chair Tom McKay, an Anchorage Republican, argued increasing oil production — not taxes — is the solution to Alaska’s budget woes.
moves forward. According to his campaign website, McKay has worked as a petroleum engineer since 1980 for a number of energy companies, including Conoco., introduced Monday by Nikiski Republican Rep. Ben Carpenter, would create a 2% state sales tax. “I don’t take this lightly, bringing forward a bill that would institute a sales tax on Alaskans,” he said. “If we were having a conversation that didn’t include a bunch of other components of a fiscal plan, I would not be sitting before you.”
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