A permanent program that distributes benefits from oil company profits is distributed every year among millions of Alaskan taxpayers, and is right now at a time of definitions and announcements, with all of these qualifying households paying attention to the size of this year’s check.
This is the Permanent Fund Dividend (PFD), a stimulus checks program that is sent once a year to all taxpayers in the Last Frontier State, Alaska, which was created in 1976. Basically, it manages surplus oil revenues from the state. Since 1983, annual dividends have been distributed, the amounts of which depend on the performance of the fund’s investments and legislative decisions.
As of December 2024, the fund was worth nearly $83 billion, according to data from the Alaska Permanent Fund: Meaning, Dividends, Investments.
Important Dates for the 2025 PFD Stimulus Check Program
The PFD calendar follows a very specific annual cycle. Applications for the year 2025 had to be submitted before March 31, with a record of more than 564,000 applications, according to official reports. The amount is traditionally announced in September, as was the case on September 19, 2024, when the figure for that year was revealed. Payments begin in October: In 2024, direct deposits began on October 3, while checks were sent later.
For 2025, the same scheme will be maintained: announcement in September and payments from October. However, late applications could receive additional distributions in March, April or May, as detailed by the Alaska Department of Revenue – Permanent Fund Dividend. This process seeks to guarantee transparency and accessibility for the more than 730,000 residents who, on average, request the benefit each year.
Now, this is who’s eligible to claim the check:
These are the requirements that permanent Alaska residents must comply with to qualify and be eligible for the PFD stimulus check:
- have lived in Alaska for a full year prior to applying
- physically remain in the state at least 72 hours in the last two years
- have no convictions for serious crimes in the last year
Those who submitted their documentation before March 31, 2024 will receive payment as soon as the program confirm the funds.
How much to expect from the Permanent Fund Dividend in 2025?
As an example, the 2024 payment was made up of two parts: $1,403.83 corresponding to the standard Permanent Fund dividend, and $298.17 coming from an energy subsidy approved in 2023. This subsidy was an exceptional measure to help residents with increasing energy costs, as reported by the Department of Revenue.
For 2025, the amount has not yet been defined. Its final value will depend on the total number of applicants and the financial performance of the fund during the year. The permanent dividend increased $390 between 2023 and 2024, but is still far from the 2022 record.
Comparing the amounts of the last two years, the dividend rose from $1,312 in 2023 to $1,702 in 2024, which represents an increase of $390, that is, an increase of 29.7%. Payments for 2024 began on October 3.
However, that amount is still below the all-time high reached in 2022, when the dividend reached $3,284. At that time, a non-taxable energy subsidy of $662 was included that significantly raised the total distributed to residents.
What if taxes on oil companies are raised? An attempt to increase PFD payments
Two legislative initiatives seek to increase tax collection from oil companies. Senate Bill 92 (SB 92), introduced in February 2025, proposes a corporate tax on entities such as Hilcorp, operator of the Prudhoe Bay field. Currently, this company does not pay state taxes due to its “S” corporation status. The measure could generate $100 million annually until 2030, according to official projections.
At the same time, Senate Bill 113 seeks to tax online businesses outside of Alaska, with an estimated revenue between $25 and $65 million annually. Although it does not directly affect the oil sector, it reflects efforts to diversify income. Both proposals face resistance: the industry warns of risks of disinvestment, while legislators argue the need to balance the fiscal deficit, according to the Alaska senators unveil oil tax increases as part of revenue measures to address growing deficit.
In 2020, Measure 1 sought to increase taxes on oil production, but was rejected by 62% of voters. This precedent, detailed in Alaska Ballot Measure 1, North Slope Oil Production Tax Increase Initiative (2020), illustrates the polarization around fiscal policies linked to oil, the state’s main economic driver.
