Department of Revenue

Post-Filing Notice

Adopted and Filed Regulations for the Oil & Gas Exploration, Production and Pipeline Transportation Property Tax

The Alaska Department of Revenue (department) has adopted changes to regulations affecting the oil and gas property tax. The changes relate to the general assessment of oil and gas production properties, with an emphasis on depreciation methodology. The proposed changes were publicly noticed in September 2017 and adopted by the department on November 20, 2017. The regulations have been reviewed and approved by the Department of Law. The regulations were filed by the Lieutenant Governor on November 27, 2017. The regulations become effective January 1, 2018 and will be published in Register 224, January 2018 of the Alaska Administrative Code.

The adopted regulation, at 15 AAC 56.100:

• Specifies and makes more transparent several aspects of the assessment process for oil and gas production property, particularly in regard to depreciation methodology.

To see the entire text of the final adopted and filed regulations select the following link:

http://tax.alaska.gov/programs/documentviewer/viewer.aspx?78n

December 7, 2017