Energy (Pipeline Infrastructure) in Alaska

in committee · Alaska · Senate May 9, 2025

SB 92: An Act establishing an income tax on certain entities producing or transporting oil or gas in the state; and providing for an effective date.

SB 92 establishes a 9.4% income tax on oil and gas producers and transporters in Alaska with annual "qualified taxable income" exceeding $5 million. The tax applies to sole proprietorships, partnerships, and certain pass-through entities filing under IRS Section 1361-1379, calculated on income from oil/gas production or pipeline transportation (minus dividends, gifts, and owner compensation). Revenue from this tax will fund energy and electrical grid projects through a dedicated state fund. The bill defines "qualified taxable income" as gross oil/gas revenue before deducting specific payments to owners or partners.

Topics ✓ Budget & Taxes ✓ Energy

Sub-Topics Business Taxes Oil & Gas Pipeline Infrastructure

All energy bills

SB 92: An Act establishing an income tax on certain entities producing or transporting oil or gas in the state; and providing for an effective date.