It may not look like it matters to most Alaskans, but it does. Not just for the money it would raise for the state treasury, but because it highlights a 45-year-old problem.
A first-year Wasilla senator has introduced legislation to collect state corporate income taxes from Hilcorp, a privately held company that bought out BP’s North Slope assets in 2020. Similar legislation has been introduced in past years but failed to pass.
It’s not that Hilcorp is cheating on its taxes, it’s simply following state law, which has always exempted such privately held businesses from state corporate income ta...
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