AK SB227

Establishes an income tax on oil and gas producers and transporters operating as pass-through entities (sole proprietorships, partnerships, LLCs, S corporations) with graduated rates from 5% to 9.4% on taxable income over $1 million, effective January 1, 2026

Creates a new "education tax" on wages and self-employment income ranging from $20 to $60 annually based on income brackets, with revenue designated for the public education fund

Modifies the oil and gas production tax structure by setting rates at 17.5% for oil and 13% for gas on gross value at point of production, while repealing existing tax credits under AS 43.55.023, 43.55.024, and 43.55.025

Imposes a $0.15 per barrel infrastructure maintenance surcharge on oil production, with revenue designated for pipeline corridor maintenance and operation costs

Updates the Multistate Tax Compact to adopt market-based sourcing rules for apportioning income from services and intangible property, replacing the previous cost-of-performance method