State of Alaska, Department of Revenue, Appellant and Cross-Appellee v. Bp Pipelines (alaska) Inc., Conoco-Phillips…

Summary

The Alaska Supreme Court affirmed the superior court's de novo valuations of the Trans-Alaska Pipeline System for the 2007-2009 tax years. It held that the superior court properly admitted redacted taxpayer information, used a use-value and replacement-cost-new-less-depreciation methodology, considered minimum throughput, and applied an economic-obsolescence deduction for low utilization. The court also upheld the superior court's decision not to apply collateral estoppel. No separate opinions were issued.