A bill aimed at simplifying the resource landing tax and expanding value-added tax credits for fishermen and processors passed legislature and now heads to Gov. Sean Parnell for his signature.
Senate Bill 71, sponsored by Sen. Peter Micciche(R) of Soldotna, would work to adjust the schedule and calculations of fishery landing tax payment and also expands tax credits available to processors for both salmon and herring. The tax credits also work as incentives for processors to create new products.
The passing of this legislation would mean that fishermen can align their tax payments with the particular fishery they work in and choose from three different methods for that payment.
The previous salmon production tax credits were due to sunset in 2016 and will now most likely be pushed back to 2020.
Sen. Micciche said he is “proud of the bill and what it means for the continued growth and the promotion and efficiency in the Alaska seafood industry.”
