How to Form an S Corporation in Alaska

Introduction

If you’re a small business owner in Alaska, you might want to consider establishing an S corporation. It’s a type of business entity that protects its owners from personal liability, provides tax benefits and simplifies their financial transactions with the IRS. In this article, we’ll walk you through the steps to forming an S corporation in Alaska.

Obtain and Complete your Certificate of Formation

To form an S corporation in Alaska, you’ll need to obtain a certificate of formation from the state. This document will contain all the information about your new corporation, including its name and address; its purpose (how it will be used); who owns it; and whether or not shareholders may also act as officers or directors.

Once you’ve completed this form, send it along with payment to the Division of Corporations in Juneau. They’ll then issue a charter number for your new corporation within 30 days or less.

If you’re forming multiple corporations at once, request that they all receive their charters on the same day so they can share one mailing address throughout their registration process.

Send a Copy of your Certificate of Formation

Now that you have your Certificate of Formation, it’s time to send a copy of it to the Alaska Division of Corporations. You will also need to send a copy to the IRS and your state’s Department of Revenue (usually called Taxation).

Next, take another look at your Certificate of Formation. If you are forming an S corporation in Alaska and you plan on hiring employees, there will be a section called Employee Retirement Plan which requires some additional information. If this is the case for your company, be sure to fill out this section and include any other required forms as well.

If everything looks good on all fronts, you can proceed with setting up an account with us so we can prepare all necessary documents for filing—and then finally get those tax returns filed!

Pay the Fees

You will also need to pay the $100 fee to form your S corporation. The fee can be paid in person, by mail or online at the Alaska Department of Commerce, Community & Economic Development.

Make a Notification

You should send a copy of your certificate of formation to the Alaska Division of Corporations. You can send a copy by mail, email or fax. This fee is $100 for businesses with up to $1 million in gross revenue and $50 for businesses with over $1 million in gross revenue.

As a small business owner, it’s unlikely that you’ve ever considered forming an S corporation. But this type of organization is a popular choice for many entrepreneurs, who may find its benefits attractive.

As the name implies, an S corporation limits your personal liability when compared with other types of businesses.

If you’re looking to take advantage of tax benefits or simplify your financial transactions with the IRS, then forming an S corporation could be right for you.

Conclusion

As you can see, forming an S corporation in Alaska is a straightforward process. All you have to do is gather the right information and send it to the state, pay the fees and make a notification. Once that’s done, your business will be set up in no time!