Alaska Business Facts
Between its geographical advantages, strategic location, as well as strong brand, Alaska is a growing force in the global economy. It is estimated that 86% of economic growth in Alaska will transpire in foreign markets. Alaska is home to the country’s second-largest hub for air cargo commerce as well as international trade between the United States and Asia, and the fifth-largest airport in the world when it comes to cargo throughput, the Alaska International Airport System works aggressively to enhance investments from in-state, national, as well as international air-cargo and aviation based industries.
Major Companies Headquartered in Alaska
Alaska is the headquarters of many major companies including Farmers Loop Food Court, Bristol Bay Native, Chugach Alaska, Afognak, and Anchorage School District.
Alaska has the potential for a sustainable and strong future. The need to support the growth and development of new and emerging businesses is imperative. The use of promotional activities, business assistance, and research can sustain and accelerate business growth. Such approach has helped strengthen the seafood and visitor industries in Alaska.
There are 3 basic options: a Corporation, LLC or DBA. Click here to learn more about business entities.
Choosing a business name is easier said than done – many legal and business problems can arise from picking the wrong name (you can always change it later but the less times you have to do that the better). In Step 3 we’ll show you how to search for the name in Alaska, but we highly recommend you do the following before searching Alaska state databases:
NOTE: Familiarize yourself with the Alaska naming guidelines. LLC entity names need to contain the words Limited Liability Company or the abbreviation LLC, and certain words are restricted or prohibited.
Restrictions on Alaska Business Name & Business Purpose
Each state has its own requirements for registering a business. Now that you’ve chosen a business structure and picked your business name, here are the requirements to register your business in Alaska.
How to form an LLC in Alaska
TIP: Speak to your tax advisor about this important issue because it adds complexity to your LLC most people would rather avoid.
How to Incorporate in Alaska
Considerations when incorporating or forming an LLC in Alaska
How to File a DBA in Alaska
Your EIN is like your Social Security Number for your company. It’s required for Corporations and LLC’s and optional for DBA’s (if you don’t have any employees, then it’s required). However, if you are a DBA and don’t obtain an EIN you will be forced to use your Social Security Number on many documents so it’s typically recommended you obtain the EIN to prevent identity theft.
You can read more about corporate tax laws in Alaska on the Alaska Department of Revenue Taxation Division site.
Optional Considerations when registering a Alaska business
Ready to register a business in Alaska?
To keep business and personal expenses separate, you should open a separate account for your business. In addition, getting business credit cards is how you begin to build a company credit profile (corporation or LLC required) and can later qualify for larger loans and lines of credit. To open the account simply call your chosen bank and inquire on the steps to open a business bank account. Typically you’ll need a) your filed paperwork, b) your EIN and c) a company resolution authorizing your company to open the account (signed by the owners, members, officers or directors, etc.).
Top 5 Major Banks in Alaska
TIP: Our business formation service includes a free banking resolution for your use.
Now that you’ve registered your business name you need to obtain a business license for your company – this authorizes your company to do business in your city or county. Typically this also involves registering for state taxes and permits (the city may require them as part of the business licensing process).
TIP: We work with a company that can obtain and prepare business licenses and permits for you. Click here to learn more.
DBA: Your Fictitious Business Name should be valid for 5 years (unless you change company name or other information listed on the FBN) at which point you’ll need to renew it with the county.
LLC: Alaska corporations are required to file a Periodic Report with the Alaska Secretary of State every year on or before January 1, in addition to general taxation. Information on your business’ taxes can be found here.
Corporation: Business in Alaska should file a report once every two years on or before January 1 with the Secretary of State of Alaska. LLCs and Corporations will pay a filing cost of $100.
Division of Corporations, Business and Professional Licensing (for Corporation and LLC filings)
333 Willoughby AVE, 9th FL
State Office Building
Juneau, AK 99801-1770
Phone: (907) 465-2550
Alaska Taxation Departments
Alaska Labor and Employment Departments
Alaska Startup Resources
1. Small Business Administration (SBA) Alaska District Offices
2. SCORE Alaska
3. Alaska Legal Statutes
5. Alaska PTAC
6. Angel.co Alaska Startups
7. Alaska Business News
9. Alaska Small Business Development Center (SBDC)
10. Adventure Green Alaska
Wow loved it thankyou! I dreaded making this for a month thinking it would be a hassle. It wasn't thanks to you guys!
Excellent in all aspects. Perfect for new business owners with limited resources but wants to start it off right.