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House panel OKs 22.5% oil tax rate

...allowing those investments to be deducted from income. Alaska last year adopted the Petroleum Profits Tax, based on oil company net profits. State officials said PPT proceeds came up well short of expectations in its first year and attributed a substantial...

http://www.juneauempire.com/stories/111107/sta_20071111020.shtml
News
Three conflicts become key in special session Gross vs. net

...standard deduction was a fair trade for the gross floor. Tools of the trade Alaska last year adopted a tax on oil company net profits, without knowing much about what those profits were and how much the tax would raise. This year Galvin said...

http://www.juneauempire.com/stories/111807/sta_20071118022.shtml
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