Tax break ending for Prudhoe Bay satellites

01/24/2005
Alaska Gov. Frank Murkowski has said that, effective Feb. 1, satellite fields surrounding Prudhoe Bay oil field no longer will be allowed to take advantage of a state tax break called the Economic Limit Factor (ELF).During his Jan. 12 State of the State address before a joint session of the Alaska Legislature, Murkowski said the tax break originally was intended to encourage development drilling on marginal prospects."It was never the intention of the legislature, which crafted revised ELF legislation in 1989, to have it reduce taxes close to zero in situations in which satellite fields are administered as one field with the Prudhoe Bay field," Murkowski said.If companies had operated Pru...
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