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contact usAlaska 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.
According to the 2011 American Community Survey, 83.4% of people over the age of five spoke only English at home. About 3.5% spoke Spanish at home, 2.2% spoke another Indo-European language, about 4.3% spoke an Asian language (including Tagalog), and about 5.3% spoke other languages at home.
The Alaska Native Language Center at the University of Alaska Fairbanks claims that at least 20 Alaskan native languages exist and there are also some languages with different dialects.
Like all other U.S. states, Alaska is governed as a republic, with three branches of government: an executive branch consisting of the governor of Alaska and his or her appointees which head executive departments; a legislative branch consisting of the Alaska House of Representatives and Alaska Senate; and a judicial branch consisting of the Alaska Supreme Court and lower courts.
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.
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The corporate laws of Alaska are user-friendly and often adopted by other states as a standard for testing corporate laws. As a result, the corporate laws of Alaska are familiar to many lawyers both in the US and internationally. Alaska has a common law system.
One IBC supply incorporation in Alaska service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.
More than a million corporations have been incorporated in Alaska and lots of U.S. publicly-traded companies. Businesses choose Alaska because it provides modern and flexible corporate laws and a business-friendly State Government.
The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.
The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";
No public register of company officers.
Just 4 simple steps are given to start a business in Alaska:
* These documents required to incorporate a company in Alaska:
There is no minimum or a maximum number of authorized shares since Alaska incorporation fees are not based on the share structure.
Only one director required
Minimum number of shareholders is one
Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.
There is generally no requirement to file financial statements with the state of formation unless the corporation owns assets within that state or has conducted business within that state.
Alaska law requires that every business have Registered Agent in the State of Alaska who may be either an individual resident or business that is authorised to do business in the State of Alaska
Alaska, as the state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimised by providing credits against Alaska taxation for taxes paid in other states.
In the case of corporate taxpayers, double taxation is minimised through allocation and appointment rules related to the income of corporations engaged in multi-state business.
The Alaska Franchise Tax Board requires all new LLC companies, S-corporations, C-corporations that is incorporated, registered or doing business in Alaska must pay the $800 minimum franchise tax
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Payment, Company return due date
All LLC companies, corporations are required to update their records, either annually or biannually, based on the year of registration and pay yearly $800 minimum franchise tax.
A Statement of Information must be filed with the Alaska Secretary of State within 90 days after filing the Articles of Incorporation and each year thereafter during the applicable filing period. The applicable filing period is the calendar month in which the Articles of Incorporation were filed and the immediately preceding five calendar months
Most corporations must pay a minimum tax of $800 to the Alaska Franchise Tax Board each year. Alaska Corporation Franchise or Income Tax Return is due on the 15th day of the 4th month after the close of the corporation’s tax year. Alaska S Corporation Franchise or Income Tax Return is due on the 15th day of the 3rd month after the close of the corporation’s tax year.
Limited liability companies must file a complete Statement of Information within the first 90 days of registering with the SOS, and every 2 years thereafter before the end of the calendar month of the original registration date.
Once your limited liability company is registered with the SOS it is an active business. You are required to pay the minimum annual tax of $800 and file a tax return with FTB for each taxable year even if you are not conducting business or have no income. You have until the 15th day of the 4th month from the date you file with the SOS to pay your first-year annual tax.
