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Seaton Introduces Personal State Income Tax - Radio Kenai
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Rep. Seaton Introduces Personal State Income Tax

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Homer Representative Paul Seaton has introduced legislation proposing a personal state income tax.

 

Seaton called it an equitable way to generate additional revenue as Alaska faces multi billion dollar deficits amid low oil prices.

 

The legislation would tax 15 percent of the federal tax both residents and non-residents pay on income made in Alaska.

 

The sources to be taxed would include money earned from wages, real estate, and some investments, along with an additional tax for capital gains.

 

This follows the trend of the current legislative session which is reducing spending and the size of state government before investigating additional revenue sources.

 

House Bill 182 was referred to the House Finance Committee.

 

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