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Fairclough: Raise tax rate for 25 percent stake

By Associated Press 10:48 AM March 4, 2014

The currently proposed tax rate is 10.5 percent, which would put the state's overall share at about 22 percent.

JUNEAU, Alaska (AP) – An Eagle River senator says she would like to see the tax rate in the gas line bill increased to give the state a full 25 percent stake in a liquefied natural gas project.

Sen. Anna Fairclough said during a Senate Finance Committee meeting Monday that she would like to see an analysis by the Legislature’s consultants on how competitive Alaska’s tax structure is.

The committee is considering a bill aimed at advancing the mega-project and plans to take public testimony Tuesday. Under the proposal, the state’s equity stake would be determined by its royalty share and gas tax rate.

The state is mulling a stake of 20- to 25 percent. The currently proposed tax rate is 10.5 percent, which would put the state’s overall share at about 22 percent.

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 This material may not be published, broadcast, rewritten or redistributed.)

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