Daily Tax Report: State

Alaska DOR Issues Answer to Fairbanks Natural Gas, Interior Gas Utility’s Excise Tax Question

Nov. 8, 2019, 10:37 PM

The Alaska Department of Revenue (DOR) Nov. 5 issued an answer to Fairbanks Natural Gas and Interior Gas Utility’s (utilities) excise tax question regarding the DOR’s public notice dated Oct. 4, related to depreciation and the weighted average cost of capital for transportation of oil by a vessel and for LNG transportation facilities. The utilities are regulated as natural gas public utilities by the Regulatory Commission of Alaska. The utilities enjoy a tax-exempt status and Alaska Admin. Code tit. 15, Section 55 isn’t applicable to the utilities’ operations. The utilities inquired whether they could, in their current structures, be subject...

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