summary
Introduced
01/26/2026
01/26/2026
In Committee
02/19/2026
02/19/2026
Crossed Over
Passed
Dead
Introduced Session
34th Legislature
Bill Summary
An Act relating to the Multistate Tax Compact; relating to apportionment of income to the state; establishing a state sales and use tax; relating to taxes levied by cities and boroughs; relating to the corporate income tax; authorizing the Department of Revenue to enter into the Streamlined Sales and Use Tax Agreement or substantially similar agreement; relating to the oil and gas production tax; establishing an infrastructure maintenance surcharge on oil; establishing a pipeline corridor maintenance fund; and providing for an effective date.
AI Summary
This bill enacts several changes to Alaska's tax laws, including adopting the Multistate Tax Compact (MTC), which aims to standardize tax rules for businesses operating in multiple states to ensure fair apportionment of income and reduce duplicate taxation. It also establishes a new "education head tax" on wages and self-employment income, with revenue intended for public education, and introduces an infrastructure maintenance surcharge on oil production to fund pipeline corridor upkeep. The bill modifies corporate income tax provisions, including how income is apportioned for highly digitized businesses and those in the oil and gas sector, and introduces a new tax on certain "qualified entities" like sole proprietorships and partnerships, with specific tax brackets and rules for calculating taxable income. Additionally, it adjusts existing oil and gas production tax rates and payment procedures, and repeals several outdated tax credit provisions.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Rules (Senate)
Last Action
REFERRED TO FINANCE (on 02/19/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.akleg.gov/basis/Bill/Detail/34?Root=SB227 |
| BillText | https://www.akleg.gov/PDF/34/Bills/SB0227B.PDF |
| BillText | https://www.akleg.gov/PDF/34/Bills/SB0227A.PDF |
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