Hidden in the governor’s plan to enact a statewide sales tax is a plan to eliminate all corporate income taxes in Alaska in five years, which would cost the state more than a half-billion dollars a year starting in mid-2031.
Gov. Mike Dunleavy has made no case in public for the elimination of the petroleum corporate income tax—expected to generate $245 million a year—or the corporate income tax, which could otherwise be generating nearly $300 million a year in five years.
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