You and I both know ACES is only one component of that assuming the 70% is even true, which I doubt.
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I agree it is only one component. That number also includes Royalties, Corporate Petroleum Income Tax, Petroleum Property Tax, and Federal Taxes.
That was one of the problem with Alaska taxes is there are too many levels of special taxes on the petroleum industry, not paid by other industries. I don’t consider Royalties in that category, those make sense in selling minerals.
In my opinion, the focus on ACES is all these other taxes already existed, when ACES was put in place adding to the burden. When it was sold to the public in Alaska, it was advertised as only changing 22.5% to 25%. The media and supporting politicians gave little talk to the steep climbing rate once oil was above $30; in my opinion, living in Alaska at the time, it was dishonest in the way it was sold to the population. So, ACES was the last one added, it should be the one scaled back.
Wake me when that happens...LOL. Otherwise, good post. I'll defer to others at this point who may want to chime in.
Edit: BTW, Kay Cashman gave me the idea to really dig into the CP numbers when, in 2009, she wrote an article explaining that Alaska was a great place to make money in the oil business based on CP's outstanding performance in 1Q 2009 under ACES. I expanded her analysis to include CP's performance under all 3 tax schemes.