TAX LAW Supreme Court of Alaska (2024) Brendan Genaw In City of Valdez v. Prince William Sound Oil Spill Response Corp., 548 P.3d 616 (Alaska 2024), the supreme court affirmed the lower court holding that Alaska’s three-year statute of limitations on tax assessments, AS 43.05.260, applied, and the Department of Revenue (“Revenue”) cannot retroactively assess Continue Reading »
TAX LAW Supreme Court of Alaska (2022) Robert Bulka In State, Department of Revenue v. Nabors International Finance, Inc., 514 P.3d 893 (Alaska 2022), the supreme court upheld an Alaska tax statute requiring corporate taxpayers to report affiliated corporations incorporated or doing business in low-tax countries. (Id. at 898). The Department of Revenue (Department) audited Continue Reading »
TAX LAW Adam Beyer In Fairbanks Gold Mining, Inc. v. Fairbanks North Star Borough Assessor, 488 P.3d 959 (Alaska 2021), the supreme court held that value accrued from waste stripping was not exempt from local revenue taxation. (Id. at 966). Under Alaska law, “natural resources in place” are exempt from local government taxation. (Id.). This Continue Reading »
