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Open LLC in Alaska

 
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Category : > Library To Create An LLC In USA
Posted On : Sat Sep 24th,2016

 
How to Start an LLC in Alaska?
 

 

An Ultimate Guide to Starting an LLC in Alaska

LLC is not a corporation or a partnership but it is a business structure allowed by various states. Limited Liability company offers many advantages. It provides limited liability avoiding excessive paperwork and taxation. One can enjoy the simplicity of a partnership and tax benefits with it.

 

What are “Members” in an LLC?


Owners of a Limited Liability Company are called members. Many states allow members to include foreign entities, LLCs, individuals, and corporations. Members are not liable for legal or financial obligation.

 

Who is a “Manager” in an LLC?

“A manager is an individual who manages company affairs.”

 

Why setting up an LLC in Alaska?

Getting an LLC in Alaska means you are going to reduce your taxes, effort, time, and the most important personal assets. Why people open an LLC in Alaska because it reduces your taxes.

 

How to file an LLC in Alaska?

All Alaska LLCs are required to be filed with the state of Alaska legally to open a business.


Following are the requirements to set up an LLC in Alaska:

 

  • Alaska LLC Name Search
  • Check the name availability with the Alaska Division of Corporation Data Base to ensure the required business name is available to register a Limited Liability Company. Reserving the business company name does not mean to start your business.

 

You are required to state following information while registering an LLC in Alaska:

  • You will provide an entity name- A limited liability company must have these words (L.L.C/ LLC/ Limited liability Company)

  • What is the purpose to file an LLC in Alaska?

  • Write the “NAICS Code”- It is a six-digit code that is used for initial business activities.

  • The name of a registered business agent who has business address in the state of Alaska.

  • Write the mailing and physical address of your register agent.

  • Entity mailing and physical addresses

  • Management- Either the LLC is being operated by a manager or by its members.

  • The articles of Organization of a Domestic LLC must be signed by one or more organizers electronically.

  • Add an organizer if you want


Expected LLC article filing processing time in Alaska!

The state of Alaska takes 24 to 48 hours (Standard processing time) to approve your article of the organization.

What is a Manager Managed Limited Liability Company?

An LLC that is supervised by a manager is called Manager LLC.

 

What is a Member Managed LLC?

A Limited liability company that is managed by its members or owners is called member managed Limited Liability Company. The members of LLC appoint a manager to carry the day to day tasks of the business.

 

EIN to set up an LLC in Alaska

EIN is the identity of your business tax. It provides you social security to your business entity. An Employee Identification Number helps you to open a business account. You can also use it for obtaining licenses, filing taxes or bank accounts.

  

Can a Non-US resident open an LLC in the USA?


Yes, a non-US resident can open a Limited Liability Company in the state of Alaska, and ITIN is given to each member to file taxes. Form W7 is submitted to the Internal Revenue Service to apply for the ITIN (Individual Taxpayer Identification Number).

   


An Operating Agreement to create an LLC


An operating agreement is not necessary to register an LLC in the state of Alaska and you can follow the following guidelines to prepare the operating agreement for your Limited Liability Company.

  • Obtain a copy of your state’s Limited Liability Company (LLC) legislation in order to determine the state specific requirements as to what can and cannot be included in your Operating Agreement.
  • Type on your letter head "Limited Liability Company Operating Agreement".
  • Enter the effective date of the operating agreement.
  • Name of the limited liability Company
  • Enter the purpose of the Company is to engage in any lawful act or activity for which a Limited Liability Company may be formed under the Limited Liability Law of the State of Alaska.
  • Enter the company's address, registered agent name and address, and the entity registration or formation date.
  • Enter the name and addresses of the members of the Limited Liability Company.
  • Capital contributions, including initial contributions, additional contributions and no interest on capital contributions.
  • Allocation of profits and losses distributions.
  • Indemnification
  • Powers and duties of the managers.
  • Salaries reimbursement and payment of expenses.
  • Books of account, Accounting Reports, Tax Returns, Fiscal Year and Banking.
  • Transfer of membership interest.
  • Enter general provisions if any.
  • Signature of all members.

  

Sales and Use Tax Alaska

Sales Tax is not appicable in the state of Alaska

 

  

Khizar Hayat

The Author of this article is a M.Phil in English Literature


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