Alaska’s decision to forgo an individual income tax serves an important role in offsetting above-average federal income tax burdens in Alaska. At first blush, this sounds confusing. Alaskans face the same federal income tax rate schedule as everyone else. But there is an income tax premium for living in Alaska nonetheless, and its price tag […]
JUNEAU, Alaska—The Alaska minimum wage will increase from $9.89 to $10.19 in 2020. Voters passed a ballot initiative in 2014 to adjust the minimum wage annually for inflation. Alaska Statute 23.10.065(a) requires the Alaska minimum wage to be adjusted using the Consumer Price Index for All Urban Consumers, formerly the Anchorage CPI, for the […]
“Alaskan workers deserve a fair process to ensure Alaska’s minimum wage keeps up with inflation, and this is the first year the new law requires it to be adjusted,” said Labor Commissioner Heidi Drygas. “This modest increase will protect low wage workers and their families against inflation over time.” Alaska Statute 23.10.065(a) requires the Alaska […]