Tuesday, September 18, 2012

Alaskans to get $878 in yearly oil wealth payout

ANCHORAGE, Alaska (AP) — It's not much — $878 — but Sina Takafua (SEE'nah TAWK'-ah-fwah) isn't balking at the free money she'll get in her first annual payout from Alaska's oil savings account.
She's happy with the amount she'll receive just for living in the state, in her case the northernmost town of Barrow.

State officials on Tuesday announced the amount of dividends to be distributed to all men, women and children who have lived in Alaska for at least one calendar year.

This year's amount is significantly less than last year's dividend of $1,174, and it's the lowest since 2005. The payout will be distributed Oct. 4.

Alaska has no state income tax, but residents must pay federal taxes on the bounty. What they do with the rest is up to them.

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