Alaska Legislature Passes Corporate Tax Apportionment Changes

Alaska would use new methodology to calculate corporate income tax—raising more revenue for the state—under a bill passed Wednesday during the final day of the legislative session.

The bill (HB 280) passed the House by a 28-11 vote and the Senate 17-3. It now heads to Gov. Mike Dunleavy (R).

The legislature, with split control between the political parties, has been locked in months of debate with Dunleavy over how to shore up state finances.

In January, lawmakers failed to overturn his veto of a similar corporate tax bill. Dunleavy floated a seasonal statewide sales tax ...