JUNEAU, Alaska (AP) - House leaders have revamped a proposal for reinstituting a personal income tax in Alaska.
It’s part of a broader bill to address Alaska’s deficit that also calls for structured draws from Alaska’s oil-wealth fund to help cover state costs.
Initially, the House Finance Committee bill proposed a tax of 15 percent of what a person owes the federal government in taxes, or $25, whichever was greater.
Committee co-chair Paul Seaton says the revised tax would be based on adjusted gross income.
The yearly check Alaskans receive from the oil-wealth fund, currently subject to federal income tax, would be excluded from the state tax.
The House majority sees a broad-based tax, like an income tax, as key to a comprehensive fiscal plan. Senate leaders have shown no interest in a tax.
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