It’s time for the second post of our “50 States of Incorporation” series! This week, we’re focusing on the great state of Alaska. Alaskan statehood was granted on January 3, 1959. The state is approximately 663,300 square miles and, according to the United States Census Bureau, the current estimated population count is 731,449. Juneau is the state’s capital, with a motto fondly recognized as, “North to the future.”
But getting-to-know-you facts aside, Alaska is a great state to start a business in. Unlike other states, Alaskan small businesses actually have a voice in the state’s regulatory process, making Alaska a pretty business-friendly environment. So if you live in Alaska and want to start your own business, filing in your own state is a good idea. In a time of economic hardship, Alaska has fared well with one of the lowest national unemployment rates in the country. If you do decide to take the plunge and incorporate or form an LLC in Alaska, here are a couple things to remember:
1) If you do not actually reside in Alaska, but choose to file your business in Alaska, you will be paying higher fees to the state when registering and filing biennial reports. On a positive note, however, filings are typically completed within one business day at the state level in Alaska – no delay!
2) You are required to have a registered agent if you form an LLC in Alaska. The LLC cannot act as its own registered agent, so that means you’ll need to find a separate agent, but that comes with its own set of benefits.
3) Additionally, LLCs in Alaska are required to file a biennial report stating the office’s address, the registered agent service’s address, the business manager’s address, and the address of anyone who owns more than 5% of the LLC.
If you keep those things in mind, filing in Alaska could be the perfect fit for your business.
Have any questions about filing in Alaska? Feel free to give us a call at 1(877) 692-6772.