Alaska Fisheries Tax Still in House Committee; Hearing Explored Raising Revenue by Closing Loopholes
SEAFOODNEWS.COM [Seafood News] By Peggy Parker - March 9, 2016
In yesterday’s final hearing on HB251, a bill that would raise fisheries landing and business taxes, legislators examined in greater detail industry alternatives that could result in the same additional revenue by closing some of the current regulation’s loopholes and streamlining the tax collection process.
More than a dozen members of industry testified by phone and email.
The Pacific Seafood Processors Association offered the only alternative proposal for raising taxes, but suggested loopholes in the current regulations should be closed first.
“If the Legislature decides to increase taxes on the resource based industries, we request that first loopholes in the existing fisheries tax collection system be closed before any new taxes are added,” PSPA’s proposal stated.
“Closing known loopholes could raise up to $4 million in additional annual revenue. Once loopholes are closed, the need...
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