Republican senators warn rapid shift to gross oil tax, S‑corp changes risk stalling projects
Senators said recent, rapid committee amendments to overhaul oil and gas taxes could impose a combined 30% take on gross revenue and warned the magnitude and speed of the change risk stifling production and the economics behind the gas line and other projects.
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Sen. Robert Myers and other Republican senators told reporters they are open to simplifying Alaska’s oil tax code in principle but said the recent amendment to move toward a gross tax was advanced too quickly and at too high a rate.
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