To join the business environment of America, you will need significant knowledge about this global jurisdiction and the right approaches, that apply to the registering of companies in the United States. This article details Alaska's business environment.
Alaska is the largest (1.718 million km2 together with island territory and waters) and sparsely populated (737,438 people as of 2018) US state, northwest of Canada. The administrative center of Alaska is the city of Juneau. The official language is English, residents also speak French and Russian. Alaska is a very promising state for the establishment of American commercial firms.
Most of all, the state was glorified by the Klondike Gold Rush. Modern Alaska builds the economy, mainly, on the extraction of a crude oil. In addition to a gold and a “black gold”, the state has mineral resources, industrial fishing and forestry, hunting and raising deer stock are developed. In many ways, the state’s economy depends on civil and military air transport. Alaska, as part of the state, is a member of the most important world organizations, in particular the OAS, UN, ICSID, IMF.
Please note, if you want to start business in Alaska, our highly qualified specialists accompany clients at all stages of registering companies in the United States of America or obtaining licenses for financial activities around the world, and are ready to provide other related legal services.
Alaska tax system
Unlike the European format, in Alaska taxes are regulated by lawmakers and are formed from penalties from income, sales (there is no such VAT in the USA), and the municipal budget is from property taxes. It is profitable to register a company in Alaska, as there is no income tax in this state, along with eight others. It is important to consider, that Alaska has a special fund from the oil industry, subsidizing residents for a quarter of its profits. Within the framework of taxation, local regulators are authorized to use both federal regulations regarding the establishment of incomes and domestic ones.
You can also request for legal advice of an international tax lawyer in the USA.
- A corporate tax in Alaska is 9,4%;
- Sales tax is 1,43%;
- Dividends are 0-35%;
- Royalty are 0-30%;
- US federal corporate income tax is 21%;
Legal forms of companies in Alaska
To establish a commercial organization in Alaska, there are such legal forms of enterprises to choose from:
- three forms of limited liability companies: the MM (Multі Мembеr), the СМ (Sіngle Мember) and a Free Zone;
- an LLP (limited partnership);
- Alaska corporation with sole (S) or collective (C) management;
- RO (representation);
- SP is a private entrepreneur.
What does it take to register a company in the USA
It is possible to register a company in Alaska within 7 days. To do this, you need:
- designate the legal form in the unique name of the company;
- the sole shareholder or their association has the right to establish a company in Alaska: both a resident and not, both individuals and legal entities;
- the director of a company can be a person of any residency. At the same time, the company must have an agent with American nationality;
- fee for registering an enterprise in Alaska is at least $1;
- first you need the address of the company (legal);
- you need to obtain a license in Alaska to do business here. If you need legal support in obtaining an American license, call YB Case experts. Our specialists will provide legal assistance in preparing all the documentation required by the regulator in order to establish a company in Alaska remotely, or will provide you with legal advice on opening an account in American banks:
- First National Bank Alaska;
- Alaska Commercial Fishing and Agriculture Bank;
- Alaska USA Federal Credit Union.
To get more detailed information about our range of services, as well as to order individual advice from an international specialist, please contact YB Case directly, in any way convenient for you.