Jon Iversen: The Past, Present and Future of Alaska’s Production Tax

Stoel Rives tax partner Jonathan Iversen authored an article for State Tax Notes titled “Alaska’s Production Tax in a State of Change.” The article, which inaugurates Iversen’s new column for State Tax Notes, Alaska Tax: The Last Frontier, provides an introduction to Alaska’s Production Tax—levied on oil and gas produced in the state with a base tax rate of 35 percent of the net revenues of production.

In the article, Iversen looks into:

• The structure and status of Alaska’s sources of revenue, with a particular focus on how oil price volatility has affected the state’s revenue over the last few years.
• The history and structure of the oil and gas production tax.
• How the production tax has evolved due to changes the Alaska Legislature has enacted, including a new group of changes passed in July 2017.

In his next column, Iversen will examine more closely those latest changes and the regulations the Department of Revenue will be issuing to implement them.