What is an Alaska Corporation?
Alaska Corporation or Alaska INC, is a business formation registered with the Division of Corporations. The Alaska Corporation will be able to issue shares of stocks to employees and investors, unlike an LLC in Alaska. Purchase an Alaska Corporation for a corporate structure for your business in Alaska.
Alaska Corporation Requirements
- State Filing Fee of $250.
- A Registered Agent located in Alaska. See our service here.
- Initial Report due within six months of filing the corporation.
- Biennial Report filed every 2 years, due January 2nd.
Alaska Corporation Structure
AK Corporations are structured legally with the Alaska Articles of Incorporation. Like many states, the document for a Corporation formation is short and simple.
The required information to be listed:
- The Alaska Corporation Name
- Disclosure of Corporate Purposes
- Name of Registered Agent and Registered Office
- Alien Affiliates
- Number and Value of Shares
- Name and Address of Incorporator(s)
- Contact Information Sheet
Alaska Corporation Name
The name of the Alaska Corporation must contain the word “corporation”, “incorporated”, “limited”, “company” or an abbreviation of one of these words in the names title. You can not use a name that suggests a different purpose than the disclosure of corporate purposes. If you need help finding a name that has not been used, please check the public database at the Alaska website.
Disclosure of Corporate Purposes
You may list any lawful purpose that describes the activities of the corporation at the time of formation in Alaska. Include the NAICS code were indicated as well. Find codes in the Corporations Section of the Alaska website.
Alaska Registered Agent
To remain compliant with state law, business entities must designate a registered office and Alaska registered agent. The agent can be any of the following: a resident of the state; a domestic business; or an out-of-state entity with an office within the state of Alaska. All Alaska registered agents are required to maintain a physical office and keep regular business hours. This location cannot be a post office box. It must be a physical street location within the state of Alaska. When service of process and other documents are accepted by your registered agent, you will be notified and the documents will be forwarded to you in a timely manner. This ensures that you are properly notified of all impending litigation against your corporation.
A person that directly or indirectly through one or more intermediaries controls or is controlled by or is under common control with a corporation subject to this chapter under AS 10.06.990 is an Alien Affiliate.
- An individual who is not a citizen or national of the United States, or who is not lawfully admitted to the United States for permanent residence, or paroled into the United States under the Immigration and Nationality Act (8 U.S.C. 1101 – 1525, as amended):
- A person, other than an individual, that was not created or organized under the laws of the United States or of a state, or whose principal place of business is not located in any state; or
- A person, other than an individual, that was created or organized under the laws of the United States or of a state, or whose principal place of business is located in a state, and that is controlled by a person described in (1) or (2) of this paragraph[.]
Alaska Corporations must list the number of shares and the classification, preferred or common. The number of shares for the corporation must be above 0 (ZERO). If there is more than one class or series of authorized shares, please provide this information. Par value is the nominal value or dollar value of the original cost of a share and has no relation to market value.
A person 18 and over can sign as the incorporator of the Alaska Corporation. You can list multiple incorporators, but you must list at least one.
A contact sheet with a name, email, phone number and mailing address must be attached to the filing documents. This sheet will not be listed on public record, keeping your contact safe and private in the public domain.
|Alaska Corporation Facts|
|The Form to File||Articles of Incorporation|
|Corporate Filing Solutions Cost||$395 (includes 1-Day processing)|
|The Agency to File With||Alaska Division of Corporations|
|Online Filing Available||Yes|
|BR Due||January 2|
How to File an Alaska Corporation
Steps in forming an Alaska Corporation:
- Choose a name for your Corporation in Alaska that conforms to Alaska law. Perform a name search to make sure the name is not taken or used by an Alaska LLC.
- To form a corporation, you are required to submit Articles of Incorporation with the Division of Corporations and pay the $250 filing fee. This can be filed online. Online filings are typically processed much more quickly.
- To incorporate in Alaska, you have to appoint an Alaska registered agent and designate a registered office on your Articles. This must be a physical location, not a PO box, and it must reside inside the state. Your agent will accept service of process and other official mail on your behalf and forward all documents to you in a timely manner.
- Corporate bylaws govern the ownership of your corporation, the appointment, rights and responsibilities of directors and corporate officers, and how your corporation will operate. This is an internal document and should not be filed with any government agency. You should keep a copy on hand at your principal business office and distribute a copy of the Alaska Corporation Bylaws to the board of directors for the AK Corp.
- A company must have business accounts separate from the personal accounts of its shareholders. Most banks will need to see copies of your Articles of Incorporation, Alaska Corporation Bylaws, and an initial resolution authorizing the opening of the business accounts.
- After you form a corporation, you must submit an Initial Report within six months to avoid penalties and fines against the Alaska Corporation.
- You must file a Biennial Report every two years and pay the state fee: $100. The Alaska Biennial Report is due January 2.
To incorporate in AK, an adult individual at least 18 years of age must submit Articles of Incorporation with the DOC, as specified by Alaska Statutes § 10.06.205. The DOC charges a filing fee of $250.
Once the formation is complete, entities are required to deliver:
- An IR aka Initial Report (no charge, must be filed within 6 months)
- A BR aka Biennial Report ($100, due January 2 every two years)
Failure to make these required state filings will result in penalties and the possible administrative dissolution of your Alaska Corporation.
Writing Corporation Bylaws
Bylaws are what lay out the ownership of your company and how the corporation will be governed. This is like a blueprint for your company. Bylaws can be written in advance or after the incorporation is concluded.
Bylaws should address, at minimum, the following subjects:
- Type of stock and number of shares of each class of shares (common stock, preferred stock, etc.)
- Initial shareholders and their contributions to the corporation
- Rights and responsibilities of shareholders
- Directors and corporate officers, their rights and duties to be performed
- Allocation of profits and losses with profit payment schedule
Bylaws are not filed with any government agency, but they are usually necessary to open business bank accounts. If there is an internal dispute that ends up in court, the Bylaws will have a quick answer for a Judge to rule on.
Alaska Online Maintenance Filing
Alaska online filing is offered to maintain your Alaska Corporation. With the use of a VISA or MasterCard, you can file your Biennial Report for the corporation, an Initial Report for the AK Corp and a Certificate of Compliance for the Alaska INC.
Biennial Reports and AK Taxes
You have to submit an Initial Report within six months. This must be filed with the DOC. This filing is free.
Every two years, all entities submit a Biennial Report, along with the $100 fee. The corporate tax rate ranges from 2% to 9.4%.
Why Hire Corporate Filing Solutions to Form Your Alaska Corporation?
Starting your Corporation in Alaska shouldn’t be a hassle or a time consumer. That’s why we offer Filings Made Easy™ to make starting an LLC in Alaska super easy.
Hire us and relax while our filing experts form your new Alaska Corporation. Our staff will process orders the same business day as they are received. To make things even easier, we bundle the first year of registered agent service and ensure your Alaska Corporation comes fully equipped and ready to do its job.
Start your Corporation in Alaska and get Registered Agent service for as low as $55.