State should fix gap in its corporate income tax structure

There is growing concern among Alaskans that oil and gas revenues to the state general fund will be insufficient to satisfy programs such as education, law enforcement and transportation, as well as to continue to pay a reasonable Permanent Fund dividend.

The Alaska Department of Revenue Spring 2025 Forecast projects oil and gas revenues declining over the next decade, dwindling from 37% of general fund revenues for fiscal year 2024 to 25% by fiscal year 2035.

The primary components of oil and gas revenues are royalties, production taxes and corporate income taxes. Unfortunately, the state sta...