What is an Alaska LLC?
Alaska LLC or Alaska Limited Liability Company is a business formation registered with the State of Alaska Division of Corporations. The Alaska Limited Liability Company is similar to the Alaska Corporation. The LLC is a hybrid of a Corporation and a Limited Partnership. This business structure in Alaska is more commonly used than a Corporation for small business owners and investors.
Alaska LLC Requirements
- Initial report within first 6 months of formation.
- State Filing Fee of $250.
- A Registered Agent located in Alaska. See our service here.
- Biennial Report (Every two years) compliance due by January 2nd.
- Beneficial Ownership Information Report filing. Report due after LLC formation starting January 1, 2024.
Alaska LLC Structure
AK Limited Liability Companies are structured legally with the Alaska Articles of Organization. Like many states, the document for an LLC is short and simple.
The required information to be listed:
- The LLC Name
- Disclosure of Purposes
- Name of Registered Agent and Registered Office
- Management Structure
- Date and Organizer Signature
Alaska LLC Name
The name of the Alaska LLC is required to contain the words Limited Liability Company. You can also use an abbreviation of Limited Liability Company. Acceptable abbreviations are L.L.C. or LLC.
Disclosure of Purpose
You must state the purpose for which the company is organized and list the six digit NAICS Industry Grouping Code that clearly states the initial activities of the company being formed in Alaska.
Alaska Registered Agent
Every business entity must appoint and maintain an Alaska registered office and Alaska registered agent. The Alaska registered agent is responsible for accepting service of process and other important business mail on behalf of clients and their Alaska LLCs. This ensures that notice of litigation (service of process) reaches all entities in a reasonable time frame, allowing them ample opportunity to prepare and respond to a lawsuit.
An Alaska registered agent is required to be:
- An individual living in the state, or
- A domestic corporation in good standing with a local physical office location, or
- A foreign corporation in good standing with a local physical office location
It is a violation of AK law for a limited liability company to act as its own agent. You must appoint a different individual or entity to be the Alaska registered agent.
State if the Alaska Limited Liability Company is managed by managers or if it is managed by members.
|Alaska LLC Facts|
|Formation Document||Articles of Organization|
|Corporate Filing Solutions Cost||$395 (includes registered agent & 1-Day filing)|
|Government Agency||Alaska Division of Corporations|
|BR Due||January 2|
How to File an Alaska LLC
Steps in forming an Alaska LLC:
- Choose an Alaska LLC name. An Alaska LLC name has to be in accordance with Alaska state law (for example: you cannot use the words City, Borough or Village in the name). The name you select must be distinguishable from other names already on file with the Alaska Secretary of State. You can conduct an Entity Name Search to check for the availability of your name.
- File Articles of Organization. To form a limited liability company, AK statutes require formation documents to be filed with the Division of Corporations. There is a fee of $250 to submit the Articles of Organization. Articles of Organization can be filed by mail, in person or online. Online filings are processed typically more quickly than mailed filings. Filings may be expedited with an additional charge.
- Registered agent. All entities must designate an Alaska registered agent and registered office located inside the state. The office has to be a physical street address, not a PO box. Service of process and other official mail will be delivered to this address, and your agent will accept all documents on your behalf. Documents will be forwarded to you in a timely manner.
- Operating Agreement. LLCs are governed by an Alaska LLC Operating Agreement, which outlines ownership and the way the business will be managed. A limited liability company may be managed by its members or by appointed managers. If managers are designated, there is no requirement that they also be members of the Alaska LLC.
- Open bank accounts. Business accounts are necessary for processing payments and other monetary transactions. Every bank has its own unique standards for opening business banking accounts, but most banks will need to see copies of your Articles of Organization, a copy of your Alaska LLC Operating Agreement, and an initial resolution authorizing the opening of all accounts for the AK LLC. It is advisable to contact the bank branch directly where you wish to open any accounts and find out exactly what is needed for their bank to open an LLC business bank account.
- Initial Report. Alaska requires an Initial Report to be filed within 6 months of formation with the Division of Corporations. There is no charge to file.
- Biennial Report. LLCs submit a Biennial Report every two years and pay $100 to the Alaska Secretary of State. Failure to file is a compliance violation and will result in fines or administrative dissolution. Corporate Filings Solutions will send you compliance reminders as your Alaska registered agent to make sure you do not forget to file every two years
- Submit Beneficial Ownership Information Report. You must a file a BOI report with the Financial Crimes Enforcement Network after formation, starting January 1, 2024. The BOI report is free to file and must be submitted online.
Under Alaska Statutes 10.50.070, an LLC is formed by filing Articles of Organization with the Division of Corporations. These can be filed as a paper copy or online. The filing fee is $250. After formation, an entity must file an Initial Report within six months of the formation date of the Alaska LTD Liability Company.
Alaska LLC Operating Agreement
This document (the Alaska LLC Operating Agreement) outlines ownership of the business and how the Alaska LLC will be run. It addresses ownership, rights and responsibilities of members, how the business will be managed, and how profits and losses will be distributed. It is not filed with any government agency. It is important to lay out in detail all the various aspects of owning and managing the business. A well-written and thorough Alaska LLC Operating Agreement will avoid confusion and management problems in the future. The document may be amended, but time spent now will save many headaches later. Distribute a copy for each manager or member to sign with a notary public. If you send an operating agreement to the Division of Corporations, it will be returned unfilled.
Alaska LLC Biennial Reports and Taxes
Alaska LLCs must file an Initial Report within six months of forming the AK LLC, and then a Biennial Report every two years by January 2. Biennial Reports must be accompanied by a $100 fee for the Alaska Secretary of State. Alaska LLCs are pass-through entities, and members must pay taxes on their individual tax returns. There is no state income tax in Alaska.
Federal Beneficial Ownership Information Report Filing
As a newly-formed LLC, you’ll probably need to submit a Beneficial Ownership Information (BOI) Report to the Financial Crimes Enforcement Network (FinCEN). The BOI report provides the federal government with basic information about your LLC and the people with the most power over your business decisions and profits. Starting January 1, 2024, this report is due following company formation. This report is a little complicated, but we can make filing painless with our $9 BOI report filing service.
Why Hire Corporate Filing Solutions to Form Your Alaska LLC?
Starting your LLC 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 LLC. 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 LLC comes fully equipped and ready to do its job.
Start your LLC in Alaska and get Registered Agent service for as low as $55.