State Attempts Retroactive Income Tax, Characterizes Hilcorp Investment as "Loophole"

State Attempts Retroactive Income Tax, Characterizes Hilcorp Investment as "Loophole"

By Michael Tavoliero The Hilcorp tax debate reflects the tension between free enterprise and Alaska government’s growing demand for revenue, compounded by the State’s resistance to cut its own spending and produce structural reform. Hilcorp did not evade the law; it lawfully acquired BP’s Alaska assets in a publicly known, reviewed, and approved $5.6 billion transaction involving major interests in Prudhoe Bay, Point Thomson, Milne […] The post …