Filing An Alaska Corporation
There are numerous advantages to filing an Alaska Corporation, including tax benefits and the opportunity to establish credibility with customers. However, many steps go into registering an Alaska Corporation. Fortunately, we have taken the time to outline the administrative process, which is highlighted below.
Steps To Filing an Alaska Corporation
Choose A Name
The first thing that those looking to form an Alaska Corporation must do is choose a name. The name that they select must be unique to their entity, meaning it cannot already be in use by another organization. To ensure that they don’t choose a name already in use, owners should use the DoMyLLC Name Availability Check Page. Alaska also requires companies to include an indicator of their corporate status. Companies can do so by adding something such as, “corporation,” “company,” “incorporated,” or an abbreviation such as, “Inc.”
Choose An Agent For Service Of Process
After choosing a name, those looking to form a business will then need to select a registered agent to serve on behalf of the company. The registered agent is responsible for accepting all legal correspondence and delivering it to proper members, thus making their role rather critical. Hiring a quality registered agent could make or break a business, which is why many Alaska Corporations often opt to retain the services of a professional third-party company, such as DoMyLLC.
File Articles Of Incorporation & Pay Filing Fees
Once the company’s members have chosen a name and registered agent, they must file Articles of Incorporation with the Division of Corporations, Business, and Professional Licensing. There is a filing fee of $250 to do so. Information required on these forms includes:
- The name of the company
- The purpose of the company
- Registered agent name and address
- Name and address of each alien affiliate
- Number of authorized shares
- Optional provisions and additional articles
- Signatures of incorporators
File Initial Report
Alaska businesses must also file an Initial Report within 30 days of formation. There is no fee to do so. Learn more about Initial Reports here.
Create Corporate Bylaws, Appoint Directors And Hold Meetings
Once the Alaska Secretary of State has authorized the new entity to begin conducting business, the company should hold an initial meeting. Those who filed Articles of Incorporation are responsible for overseeing the meeting. Incorporators should appoint individuals to the board of directors at this meeting and record this information in the corporate records. Directors will serve on the board until the next annual meeting of the shareholders, where they will be up for re-election.
Once the board is in place, directors will need to establish corporate bylaws and elect officers. Although the bylaws are a private document, many banks and insurance providers require them. The bylaws should serve as an internal operating manual. The company cannot exist or conduct business until the board of directors has adopted a set of bylaws.
An Alaska Corporation is also required to issue stock and maintain records in its ledger. Incorporators can work through these details at their initial corporate meeting, where the board of directors can give the necessary final approval to issue stock. The Articles of Incorporation will have declared how much stock the Corporation can issue. It’s essential that the organization maintain detailed records. Doing so will protect the corporate veil for future investors. The board of directors can continue to issue stock throughout the life cycle of the organization.
Obtain Employer Identification Number
An Alaska Corporation is also going to need to acquire an Employer Identification Number from the federal government. This ensures that they can pay taxes and open a business banking account. It also will allow the company to hire employees, as they cannot do so without an EIN. Learn more at the DoMyLLC Employer Identification Number page.
File Alaska Required Biennial Reports
The state requires an Alaska Corporation to file an Annual Report every other year. These Biennial Reports are due by January 2 and can be submitted online. There is a $100 filing fee to file this form. If not provided by February 1, there is an additional $50 late fee. Owners can learn more at our Alaska Biennial Report page.
Once an Alaska Corporation has completed their registration with the state it is important that they maintain the annual requirements set forth by both the state and the federal government. This includes filing taxes and renewing all licenses and permits.
How DoMyLLC Can Assist With Streamlining The Process
When starting a business, owners often don’t want to burden themselves with regulatory obligations. That’s why at DoMyLLC, we streamline the entire process for you. Our services include:
- Name availability check
- Prepare Articles of Incorporation
- File Articles of Incorporation with the Secretary of Alaska’s office
- Provide sample bylaws, meeting notices and minutes for meetings
- Dedicated account manager
- Unlimited customer support
Why risk the success of your Alaska Corporation? Contact DoMyLLC today to learn more about how we can help.