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Consultant says Alaska oil tax proposal 'competitive'

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Posted: Tuesday, March 12, 2013 3:40 pm

JUNEAU — A legislative consultant says the latest version of the governor's oil tax overhaul would make Alaska competitive for new investment dollars.

Janak Mayer says the Senate Finance rewrite of SB21 would put the level of government take for new entrants around 60 percent. He says it would be 62-63 percent for existing producers.

Critics say that's too big a give to companies now producing. Another consultant last year told lawmakers government take of 70-75 percent for existing operations was "reasonable," though maybe slightly high.

The Senate Finance version of the tax bill, unveiled Tuesday, calls for a 30 percent base tax rate and $5-per-barrel credit for oil produced. It also would provide a 10-year, 20-percent tax break for oil from new fields and new oil from legacy fields.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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