The amount usually ranges from $1,000 to $2,000 per person ( $4,000 to $8,000 for a family of four), and the majority of Alaska’s roughly 740,000 residents receive it.
The oil and gas industry is the largest component of Alaska’s economy. Nearly 85 percent of the state budget is supplied by oil revenues. The tourism industry is Alaska’s second largest primary employer. The rich fishing waters off Alaska’s coast make it one of the world’s finest sources for wild seafood.
Before the pandemic, the Fund had roughly $67.9 billion but as of May 31, the latest date reported by the Alaska Permanent Fund Corporation, the Fund was worth $63.7 billion.
This year’s Alaska Permanent Fund dividend will be $992 , the Alaska Department of Revenue said in a written statement on June 12. While state legislators and Gov. Mike Dunleavy referred to a “thousand-dollar dividend” this year, lawmakers didn’t set a precise amount.
The Permanent Fund Dividend (PFD) is a dividend paid to Alaska residents that have lived within the state for a full calendar year (January 1 – December 31), and intend to remain an Alaska resident indefinitely.
Alaska is the only state that does not collect state sales tax or levy an individual income tax on any type of personal income, either earned or unearned. Instead, every Alaskan , children as well as adults, receives a payment each year from the Alaska Permanent Fund Corporation.
A person must spend at least 30 cumulative days in Alaska during the past five years. Military spouses and dependent children who are absent from Alaska due to only active duty military assignments (such as a PCS) must be accompanying an eligible Alaska resident in order to themselves maintain eligibility for a PFD .
All Alaska residents receive an annual cash dividend from the permanent fund. Production and income taxes on the crude oil and natural gas industry have provided as much as 90% of Alaska’s general fund revenues and more than half of its total state revenues from all sources, including federal programs.
Do you get paid to live in Alaska ? While it’s a common misconception that you can move there for free , you can get paid to live in Alaska . The Alaska Permanent Fund Dividend (PFD) takes the state’s oil wealth and shares an annual portion with all permanent residents (both children and adults).
Alaska has adequate numbers of qualified people to fill most jobs . A Caution: Exercise caution when you see books or ads that guarantee “big money jobs” in Alaska . Many simply offer names of companies and require you to find your own job .
Top 100 Jobs Relatively More Common in Alaska Than Elsewhere
|Rank||Job||Local Popularity Index|
|1||Zoologists and wildlife biologists||45.6|
|2||Geological and petroleum technicians||30.5|
|3||Airline pilots , copilots, and flight engineers||29.3|
|4||Material moving workers||20.2|
Investment earnings on Alaskan mineral royalties are paid out to Alaska residents. It is an annual payment . The amount varies every year but in 2015, 637,014 residents got $2,072 each. Since 1988, the payment has been higher than $800.
The Alaska Department of Revenue has finalized the 2020 dividend amount at $992 . While the PFD is normally distributed in October, Gov.
To become a resident , you need to be physically present in the state, and you must have the intention to stay in Alaska for an indefinite period. Physical presence alone is not a sufficient condition for obtaining residency.