Announcement of Fee Adjustment in October 2022
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Alaska is a state located in the northwest extremity of the United States West Coast, just across the Bering Strait from Asia. An exclave of the U.S., it borders the Canadian province of British Columbia and territory of Yukon to the east and southeast and has a maritime border with Russia's Chukotka Autonomous Okrug to the west. To the north are the Chukchi and Beaufort seas of the Arctic Ocean, while the Pacific Ocean lies to the south and southwest.
In 2019, Alaska has a population of 731,545.
The 2019 gross state product was $55.7 billion, 48th in the nation. Its per capita personal income for 2019 was $76,220, ranking 8th in the USA. According to a 2013 study by Phoenix Marketing International, Alaska had the fifth-largest number of millionaires per capita in the United States, with 6.75%. The oil and gas industry dominates the Alaskan economy, with more than 80% of the state's revenues derived from petroleum extraction.
Limited Liability Company (LLC) | Corporation (C- Corp and S-Corp) | |
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Corporate Tax Rate | These taxes are calculated at the highest Alaska marginal tax rate of 9.4%. | |
Company Name | A corporate name must contain the words “limited liability company”, “L.L.C”, or “LLC”. The corporate name may not contain a word or phrase that indicates or implies that the corporation is organized for a purpose other than the purpose contained in its articles of incorporation. A corporate name must be distinguishable upon the record. | A corporate name must contain the words like “Corporation”, “Incorporated”, “Company”, or “Limited”; or abbreviations of these words like Corp., Inc., Co., or Ltd. A corporate name must be distinguishable upon the record. |
Board of Directors | An LLC must have at least one manager and one member. The manager(s)/member(s) can be of any nationality. | A corporation must have at least one shareholder and one director. The shareholder(s)/director(s) can be of any nationality. |
Other requirement | Biennial Report: The LLC must file a Biennial Report in Alaska. The due date for business corporations is every 2 years, starting from when you filed your Initial Report. Registered Agent: Alaska LLCs are required to appoint a registered agent (called an “agent for service of process” in Alaska) to accept legal mail o n behalf of your business. The business owner will need to have his registered agent’s information ready to go before he completes his formation documents. Employer Identification Number (EIN): An EIN is required for corporations that have employees. Furthermore, most banks will require an EIN if the business owner wants to open a business bank account. | Biennial Report: The corporation must file a Biennial Report in Alaska. The due date is every 2 years, starting from when you filed your Initial Report. Officers: The Articles of Incorporation does not record names and addresses. Stock: the information about authorized shares and the number of shares or par value will be listed in the Certificate of Incorporation. Registered Agent: Alaska corporations must have a physical address in Alaska to receive legal and tax documents for the business. Employer Identification Number (EIN): An EIN is required for corporations that have employees. Furthermore, most banks will require an EIN if the business owner wants to open a business bank account. |
Select basic Resident/Founder nationality information and other additional services that you want (if any).
Register or log in and fill in the company names and director/ shareholder(s) and fill in the billing address and special request (if any).
Choose your payment method (We accept payment by Credit/Debit Card, PayPal, or Wire Transfer).
You will receive soft copies of necessary documents including Certificate of Incorporation, Business Registration, Memorandum and Articles of Association, etc. Then, your new company in Alaska is ready to do business. You can bring the documents in the company kit to open a corporate bank account or we can help you with our long experience of Banking support services.
From
US$ 599Alaska LLC Formation Cost | From US$ 599 | |
Alaska Corporation Formation Cost | From US$ 599 |
General Information | |
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Type of Business Entity | Limited Liability Company (LLC) |
Corporate Income Tax | Yes |
British Based Legal System | No |
Double Tax Treaty Access | No |
Incorporation Time Frame (Approx., days) | 1 - 2 working days |
Corporate Requirements | |
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Minimum Number of Shareholders | 1 |
Minimum Number of Directors | 1 |
Corporate Directors Permitted | Yes |
Standard Authorized Capital/Shares | N/A |
Local Requirements | |
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Registered Office/ Registered Agent | Yes |
Company Secretary | Yes |
Local Meetings | No |
Local Directors / Shareholders | No |
Publicly Accessible Records | Yes |
Annual Requirements | |
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Annual Return | Yes |
Audited Accounts | Yes |
Incorporation Fees | |
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Our Service Fee (1st year) | US$ 599.00 |
Government fee & Service charged | US$ 600.00 |
Annual Renewal Fees | |
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Our Service Fee (year 2+) | US$ 499.00 |
Government fee & Service charged | US$ 600.00 |
General Information | |
---|---|
Type of Business Entity | Corporation (C-Corp or S-Corp) |
Corporate Income Tax | Yes |
British Based Legal System | No |
Double Tax Treaty Access | No |
Incorporation Time Frame (Approx., days) | 1 - 2 working days |
Corporate Requirements | |
---|---|
Minimum Number of Shareholders | 1 |
Minimum Number of Directors | 1 |
Corporate Directors Permitted | Yes |
Standard Authorized Capital/Shares | N/A |
Local Requirements | |
---|---|
Registered Office/ Registered Agent | Yes |
Company Secretary | Yes |
Local Meetings | No |
Local Directors / Shareholders | No |
Publicly Accessible Records | Yes |
Annual Requirements | |
---|---|
Annual Return | Yes |
Audited Accounts | Yes |
Incorporation Fees | |
---|---|
Our Service Fee (1st year) | US$ 599.00 |
Government fee & Service charged | US$ 400.00 |
Annual Renewal Fees | |
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Our Service Fee (year 2+) | US$ 499.00 |
Government fee & Service charged | US$ 400.00 |
Services and Documents Provided | Status |
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Agent Fee | |
Name Check | |
Preparation of Articles | |
Same-day Electronic Filing | |
Certificate of Formation | |
Digital Copy of Documents | |
Digital Corporate Seal | |
Lifetime Customer Support | |
One Complete Year (12 Full Months) of Alaska Registered Agent Service |
Certificate of Incorporation | Status |
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Submission of all documents to the Financial Services Commission (FSC) and attending to any clarifications on the structure and applications required. | |
Submission of application to the Registrar of Companies |
To incorporate a Alaska company, the clients is required to pay the Government Fee, US$ 700, including:
Services and Documents Provided | Status |
---|---|
Agent Fee | |
Name Check | |
Preparation of Articles | |
Same-day Electronic Filing | |
Certificate of Formation | |
Digital Copy of Documents | |
Digital Corporate Seal | |
Lifetime Customer Support | |
One Complete Year (12 Full Months) of Alaska Registered Agent Service |
Certificate of Incorporation | Status |
---|---|
Submission of all documents to the Financial Services Commission (FSC) and attending to any clarifications on the structure and applications required. | |
Submission of application to the Registrar of Companies |
To incorporate a Alaska company, the clients is required to pay the Government Fee, US$ 400, including:
Description | QR Code | Download |
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Business Plan Form PDF | 654.81 kB | Updated time: 06 May, 2024, 16:59 (UTC+08:00) Business Plan Form for Company Incorporation |
Description | QR Code | Download |
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Company Profile PDF | 3.31 MB | Updated time: 30 Sep, 2024, 12:46 (UTC+08:00) Discover our company profile to gain a deeper understanding of who we are |
Description | QR Code | Download |
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Starting a business in Alaska is a great choice for entrepreneurs since it is among the most tax-friendly states in the nation and provides a low-risk environment. If you want to know how to start a small business in Alaska then follow these essential steps below.
The first step towards small business ownership is to decide what kind of business you want. You should start looking for an idea that matches your interests, personal goals, and financial capabilities.
Planning greatly affects the success of a business. Before spending a significant amount of money and other resources on your business in Alaska, thoroughly analyze your idea and create a detailed plan that includes: your business name, location score, market research, etc.
The form of small business in Alaska you choose will greatly influence your future strategies. The main business structures include:
Once you have chosen your business structure, the next step is to register your business. Regardless of which formal business structure you choose, you must follow this process before starting a small business in Alaska:
If you plan to do business in Alaska, USA, you should have a brief understanding of taxation here, as there are some differences compared to other states.
The most noticeable feature of Alaska taxation is that unlike other states, it does not require you to pay state sales tax or individual income tax. For local sales taxes, however, the rate is around 1.76%.
As a legitimate business owner in Alaska, you also do not need to pay for any franchise or privilege tax, which is a divergence from most states. Corporate income tax rates range from 0% to 9.4%, depending on your business’s taxable income. 0% rate applies for businesses with under US$ 25,000 taxable income, and 9.4% for above US$ 222,000. You must pay this tax before the 15th day of the fourth month after the close of the tax year.
In total, there are approximately 20 taxes in Alaska. You can visit the Alaska tax division website to check out all of them for more information. If you need more support on conducting business in Alaska or any other states in the USA, One IBC® is here to help you through all the process from start to finish.
Alaska is one of the most tax-friendly states in the United States. The state can be considered tax free as it does not impose state income or sales tax. Additionally, Alaska even “pays” its residents a certain amount of money annually, just for living there.
However, unlike other tax-free jurisdictions, Alaska still has many taxes levied on businesses such as taxations on vehicle rental, mining license, oil and gas production and property. Corporate income tax rates in the state are relatively low, as it could be 0% if a business’s tax income is under US$ 25,000. The highest income tax rate is 9.4% for income from US$ 222,000 and more.
The total state and local tax imposed on Alaska citizens, including income, property, sales, and excise taxes, is only 5.16% of personal income, the lowest of all 50 states.
The reason Alaska is a tax free state is because it is underpopulated and wants to attract more people and businesses to come and reside here. The state also has huge oil reserves, which become the main source of the state’s revenue and can support the tax-free policies.
If you are planning on doing business in Alaska, you should know how much taxes you will have to pay at the end of every tax year. This could save you a lot of time and money if done correctly.
As a business in Alaska, you are required to pay three types of taxes: federal, state, and local. Taxations will be calculated on your business’s taxable income and expenses, and your staff or contractors’ taxes. Depending on your business entity and situation, you may need to pay one, two or all three types of taxes in Alaska.
For each type of taxes, there are different taxes imposed on different industries that your business is doing in, such as taxations on vehicle rental, mining license, oil and gas production and property. However, Alaska, unlike most of the other states, does not impose state sales tax or individual income tax. You still need to pay for local sales taxes, and the rate is around 1.76%.
Corporate income tax rates in Alaska range from 0% to 9.4%. The rate applies on how much of the taxable income your business has earned during the year. 0% rate applies for businesses with under US$ 25,000 taxable income, and 9.4% for above US$ 222,000.
Registering an Alaska business name is a must when you decide to form a business entity in the state. Here are the 3 basic steps you need to take to register a business name in Alaska.
Depending on your business plan, there are different types of business structure you can start with. The one you choose to form will determine how you register your business name in Alaska. Common Alaska business registration are sole proprietorships, general partnerships, limited liability companies (LLCs).
When registering an Alaska business name, you should ensure your business name is unique to avoid copyright and identity issues. If you register with One IBC® service, we will help you check the Alaska State corporations database. This is the crucial step as your application will be denied if you attempt to claim a name that is already in use.
Once you have completed the above 2 steps, you will need to send your Alaska company registry documents to the state. As a final step in registration, you must submit in person or by mail your Articles of Organization as well as documents related to your business to the Alaska Department of Commerce, Communities and Economic Development.
View more detailed information on Incorporation requirements
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