How much money does Alaska pay you to live there?

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The amount of money that Alaska pays people to live there ranges yearly, with 2022 being the highest payout at $3,284 a year. Alaska residents have received annual dividend payments from the state's Permanent Fund for over 41 years, with most payments issued in September or October.

Alaska's Permanent Fund Dividends (PFDs), sometimes called oil-wealth checks, provide residents with a cash payment once a year. In 2020, the PDF was $1,114.

The reason for such a large increase in 2022 is thanks to an additional energy relief payment. For this reason, Alaskan residents should not assume that large Permanent Fund dividends will be an annual event.

The history of PDF dates back to 1976 when Alaska voters amended their state constitution to establish the Permanent Fund and require that at least 25% of the state's oil and mineral royalties be deposited into it. Money from the fund's earnings is used to supplement the state's general fund and pay dividends to eligible residents.

Only those who apply for a PFD receive one; the normal application period is January 1 through March 31 each year. To be eligible for PDF payments, residents must also have plans to remain in Alaska indefinitely. There are some exceptions to eligibility, including people sentenced or incarcerated for a felony.

Alaska also offers a variety of incentives for people who move there, including property tax exemptions and income tax deductions. They also offer a variety of loan programs and grants for business owners, energy efficiency programs, and even a relocation assistance program that helps new residents with the cost of moving.