Post by Logan on Mar 19, 2016 22:01:57 GMT -6
Walker administration says loophole costs $1.4M in taxes from big fishing boats
JUNEAU — Gov. Bill Walker’s proposed fish tax increase has drawn attention to a loophole giving a discount of as much as $1.4 million a year to some of the big Washington-based factory trawlers that fish off Alaska’s coast — and Walker’s administration is working to fix it.
Price estimates used by the state to assess existing taxes on 300 million pounds of yellowfin sole are less than one-sixth of the true prices upon which the taxes are supposed to be based, according to officials at the state fish and game department.
Four other types of fish have also been discounted, some drastically, the department says, while one has been overvalued.
The trawlers have been paying all the taxes charged by the state, said Fish and Game Commissioner Sam Cotten. They’ve just been asked to pay too little, he said.
Read more: www.adn.com/article/20160319/walker-administration-says-loophole-costs-14m-taxes-big-fishing-boats
JUNEAU — Gov. Bill Walker’s proposed fish tax increase has drawn attention to a loophole giving a discount of as much as $1.4 million a year to some of the big Washington-based factory trawlers that fish off Alaska’s coast — and Walker’s administration is working to fix it.
Price estimates used by the state to assess existing taxes on 300 million pounds of yellowfin sole are less than one-sixth of the true prices upon which the taxes are supposed to be based, according to officials at the state fish and game department.
Four other types of fish have also been discounted, some drastically, the department says, while one has been overvalued.
The trawlers have been paying all the taxes charged by the state, said Fish and Game Commissioner Sam Cotten. They’ve just been asked to pay too little, he said.
Read more: www.adn.com/article/20160319/walker-administration-says-loophole-costs-14m-taxes-big-fishing-boats