Limited Liability Company (LLC) Alaska is a great way for new entrepreneurs to incorporate their business in the state. The requirements to open an LLC in Alaska are not as restrictive as they would be in other states, and there are many professional advisors that will help you form an LLC in Alaska for less than the fees you would pay to register a business in any other state. Here are some tips on incorporating an LLC in Alaska.
There are some obvious things to consider when forming an LLC in Alaska. First, pick a name. You will need to choose a name that fits your business concept, if your business is all about fish frying, you might want to call it FishesFCE, whereas if it is a restaurant selling fishing poles, you might want to nameitPikes#1.com. You can also use adjectives to pick your name, such as PolarizedPike(TM). If you are going to be selling your own products rather than contracting out work, you might want to create a company called Pikesicle(TM).
Once you have picked a name, you'll need to file your Articles of Organization. These articles of organization must follow the state's procedures for filing a business name and must also include the name of your LLC. Along with these articles of organization, you'll need to formally submit a proof of authority for your business, such as a copy of the legal seal of the State or an official signed photograph of you. Any photos that show your business are also required to be 9mm or greater in size.
Operating Your Limited Liability Company In Alaska
When you file your Articles of Organization, your physical address will be the last listed first, followed by the name of your LLC, the business address and the street address. An example of an Article of Organization would be as follows: Name of Organization, Llc Alaskan Corporation, PO Box 12amps, Seward, AK 99ea. The opening line in the bottom of the document is the word "Articles of Organization" followed again by the name of your LLC. The bottom line is a colon and then the bottom of the page, the word "Filing." The filing process is very straight-forward.
As for your LLC, Alaska requires that it be registered with the secretary of state within 45 days of filing. Before you can do this, you'll need to check with the appropriate regulatory agency for your specific state. This agency will be able to tell you how to go about incorporating your business, and what you need to do in order to become registered as an LLC. They'll help you find a qualified accountant to help you set up your LLC, and they'll help you file any necessary paperwork with the appropriate state agencies.
While you're looking at filing your Articles of Organization, there are a few other items you should be aware of. One of these is that your LLC is not considered a partnership for tax purposes. If your business is a sole proprietorship or if you elect to be treated as a C corporation instead of a sole proprietorship for tax purposes, your LLC will be a valid and complete entity for tax purposes.
Finally, you'll want to make sure that you register your business with the Secretary of State. Here, too, there are differences between your LLC and your stand-alone corporation. A sole proprietorship is considered a C corporation, and your LLC is not. Once your LLC has been registered, all of the formalities for it to transact business will be complete, including legal business name registration, filing of its Articles of Organization, and payment of its annual registration fee.
As a business owner in Alaska, you'll need to understand and follow the laws and regulations regarding your LLC. You should consult your accountant and local officials before taking any major steps forward. But overall, your business should be more prepared and established than it would be if you did not have an LLC. Just remember that it doesn't hurt to be organized, even when you're doing business in Alaska!