The Secretary of State for Alaska is in charge of monitoring elections, managing public corporations, and keeping official documents. Shelly Hughes is serving as secretary of state as of 2021. Governor Mike Dunleavy chose her for the role in 2019.
Managing Alaska’s public corporations is one of the Secretary of State’s main duties. In Alaska, a commercial entity that is owned by the government and runs as a separate legal entity is referred to as a public corporation. The state legislature established these businesses, and it is their job to supply Alaskans with necessities like water and electricity. The Secretary of State is in charge of electing the board and making sure that these corporations follow all applicable state and federal regulations.
You might want to think about establishing a limited liability company (LLC) if you’re interested in launching a business in Alaska. An LLC is a type of company entity that combines partnership tax advantages with corporate liability protection. A licensing for an LLC in Alaska costs $250. However, there are additional costs associated with submitting paperwork and acquiring a company license. Depending on how complicated your company’s structure is, the total cost to incorporate an LLC in Alaska can range from $350 to $1,000.
In Alaska, forming an LLC normally takes two to three weeks. The Alaska Division of Corporations, Business, and Professional Licensing will need your articles of organization. After your articles of incorporation are accepted, you must apply for a business license and submit any required tax paperwork. Drafting an operating agreement, which describes how your LLC will be run and how earnings and losses will be divided among members, is also a smart idea. In summary, the Secretary of State is essential to the administration of Alaska’s public corporations and to the facilitation of economic operations in the state. It’s critical to comprehend the fees and processing times involved in creating an LLC if you want to launch a business in Alaska. You can make sure that your company is prepared for success by working with a skilled business lawyer or accountant.