An Act establishing an education tax on the income of individuals, partners, shareholders in S corporations, trusts, and estates; repealing tax credits applied against the tax on individuals under the Alaska Net Income Tax Act; and providing for an effective date.

Summary

The bill adds an education tax that applies to residents and non‑residents who earn over $150,000 (or $300,000 for joint filers) and also levies a $150 flat fee on anyone with wages or self‑employment earnings in Alaska. It also taxes trusts and estates at the same rate, and it eliminates the tax credits that currently offset the state income tax. The measure is currently referred to the Finance Committee.

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