Republican legislator proposes oil tax change to help close budget gap

With the state facing multibillion-dollar deficits, a Republican Alaska lawmaker who recently proposed a personal income tax on Alaskans now wants to raise corporate income taxes on the international oil companies operating in the state. Rep. Paul Seaton of Homer introduced a measure last weekend to change a state accounting method that allows oil companies to deduct losses from out-of-state operations against the corporate income taxes they pay in Alaska.

http://ift.tt/1NTexsH