The objective of the annual report is three-fold. The annual report keeps the Government informed about all the updates, communicates about all the modifications or changes, & keeps the LLC members informed about the necessary taxes and costs. This article has all the information about Alaska LLC annual report filing in Alaska.
An annual report can be called an address book, as it features all the relevant addresses of the company & the members. This yearly report is a record of all the company’s activities in an entire year. It is also referred to as the Annual Franchise Tax Report because it helps in filing the franchise tax.
On this page, you’ll learn about the following:
- Contents of the Annual Report
- Alaska LLC Biennial Report
- Does the State of Alaska Require an Annual Report Filing?
- Why Do LLCs Have to File the Annual Report?
- How to File an Alaska LLC Biennial Report
- Seek the Help of a Registered Agent
Contents of the Annual Report
Typically the annual report filed by an Alaska LLC (or any other business entity for that matter) will include all the information related to its business & members. The standard contents of the annual report or the annual franchise tax report are
- Office Address of the LLC
- Names & Addresses of the Members & managers.
- Identification Documents
- Social Security numbers of the key members of LLC
- The objective of the business of LLC
- List of all the signatories of the LLC
- Information of the registered agent, if any
Alaska LLC Biennial Report
In the state of Alaska, instead of an annual report, an LLC has to file a biennial report (a report to be filed every two years). Such a report must include updated information about the company addresses, registered agent addresses, etc.
Does the State of Alaska Require an Annual Report Filing?
The State of Alaska requires an LLC to file an initial report within the first 6 months of an LLC. A Biennial report is to be filed every two years with the office of the Alaska Department of Commerce, Community, and Economic Development.
Biennial Report Deadline
The Alaska Biennial Report is due every two years by 2nd January.
Penalties for Non-filing or late filing
If an LLC fails to file the Biennial Report within the prescribed time, the Alaska Department of Commerce, Community, and Economic Development charges a late penalty of $37.50
Why Do LLCs Have to File the Annual Report?
Some of the states are not required to file this yearly report, commonly known as the Annual Report. However, there are some reasons why states should file an LLC Annual Report. Here are some reasons,
To Maintain the Accuracy of the Information
An annual report filed by the LLC has all the updated information about its official addresses & the names or addresses of all its officials. This updated information allows the State authorities to track down any LLC when communicating.
To Provide the Correct Correspondence
Many times, any creditor or other entity willing to transact with the LLC requires the correct correspondence address. If this information (which can only be modified with the help of an annual report) is not updated every year, such entities will not be able to communicate with them.
To Notify the Government About All the Significant Changes
If you have changed your main business address or had new business appointments of managers or members, the annual public information report notifies the State Government Entities about it. So, the next time someone questions a newer reform that you have introduced in your LLC, you will be saved because you had submitted the information with the Government.
To Provide an Activity Log of an LLC
The Annual report is like an activity log of the LLC. It brings on record; all the transactions, new associations, appointments, etc. & keeps those records intact for all future references.
To Help You With the One-time Filing of Taxes
The annual report is an excellent means to keep you on your toes in case of your dues payment. Every LLC must pay the taxes through the annual report filing. By filing the report on time, the LLC can manage the exemptions & can avoid penalties imposed by the Government.
To Enable the State to Track the Payments
The government authorities use all the information filed through the annual report, for tracking the payment of State Taxes.
How to File an Alaska LLC Biennial Report
In Alaska, the Biennial report can be filed online or by mail. The Biennial Report is due on January 2 every two years. If an LLC fails to file the Biennial Report within the prescribed time, the Alaska Department of Commerce, Community, and Economic Development charges a late penalty of $37.50.
Steps to File Alaska LLC Biennial Report Online
Time needed: 5 minutes.
To file the report online LLCs have to register with the Alaska Comptroller of Publish Accounts official website. If the individual or the LLC is already registered then by signing in to the portal one can start filing the yearly LLC report. Here are the steps to file LLC annual report in Alaska online.
- Visit the Alaska Department of Commerce, Community, and Economic Development
The first step in filing the Alaska Biennial Report is to visit the Alaska Department of Commerce, Community, and Economic Development site.
- Enter your Alaska Entity Number
Upon clicking on the website link, you will see a box space for entering the Alaska Entity Number. Enter the entity number in the box & click on the file online button.
- Enter your Alaska Entity name
If you do not know what your Alaska entity number is, you can search with the Entity Name & click enter to know the entity number. When you search with your entity name, you can see that the entity number shall be displayed before the name of your entity name in the chart. Once you get the Alaska Entity Number of your Business, you can go to the first step followed by the third step in this guide.
- Fill Up The Form
After clicking on the file online button, you will have to fill-up the form with accurate information.
- Submit the form along with the required fees
Check the form to correct any errors & submit the form along with the required fees.
Filing Alaska LLC Biennial Report By Mail
To file the Biennial Report in Alaska by mail, you can follow the steps as below:
- Go to the Alaska Department of Commerce, Community, and Economic Development site.
- Click on the Print Form button.
- Fill up the form with the correct information and save it on your computer.
- Print the form and attach the required documents.
- Write a check properly to make the payment.
- Send the printed copies of the forms and documents to the Alaska Department of Commerce, Community, and Economic Development address, P.O. Box 110806, Juneau, AK 99811-0806.
Alaska LLC Biennial Report (Domestic & Foreign)
|State Office:||Alaska Department of Commerce, Community, and Economic Development, P.O. Box 110806, Juneau, AK 99811-0806. Links to Website, Forms|
|Due Date:||Every two years on January 2|
|Filing Fee:||The Biennial report filing fees in Alaska are $100 in the second year when the biennial report is submitted. In the first year, there is no fee.|
|Penalty:||If the Biennial Report is filed post-February 1(in the second year), then an LLC will be charged with a $37.50 late fee. If an LLC doesn’t file the biennial report at all, it may lead to the dissolution of the LLC.|
|Filing Method:||An LLC can file the Alaska Biennial report Online Or by Mail.|
|Forms:||The form to file the Alaska Annual Report can be found here.|
|Important Information:||It is a mandatory thing to file a biennial report in Alaska, & non-filing can have serious effects on the working of an LLC.|
Seek the Help of a Registered Agent
Every State will have a different rule for filing the Annual Report. Usually, it is submitted every year, but it is submitted once in two years in some states. Some states require the filing of the report only once in ten years.
Not only the timing, the mode of filing, the proper addresses, exemptions, legality, annual report compliance, etc., have to be taken care of while paying the taxes or filing any reports with the State authorities. In many such scenarios, it is advised that an LLC appoints a Registered Agent to manage all this. Check out the best LLC service that offers all the services at an affordable price. An experienced agent is required for:
- Streamlining the mandatory processes & filing.
- Sending or receiving any documents.
- Reminding you about important dates of filing or payment of taxes.
- Simplifying the filing procedures.
- Avoid any penalties.
- Flexibility in working.
- Maintaining Privacy (as it keeps your personal records off the public record)
You can read more about an Alaska Registered Agent here.
How Fast Can I Fill Alaska LLC Annual Report
You need to file biennial report in Alaska. Filing the biennial report for your Alaska LLC by mail may take up to 10-15 business days to process. The online filing is completed immediately.
If you are thinking about starting a business in Alaska, you will want to consider the process of creating and filing an Alaska LLC. An LLC is a legal business entity that offers limited liability protection. However, it is not without its challenges. You will need to make sure you comply with all of the state requirements, and you may need to hire an attorney to handle the paperwork.
Getting started with an Alaska LLC is an exciting endeavor. Unlike a corporation, an LLC is pass-through, meaning that its income is not taxed at the company level. This means that your personal taxes will not be affected, but you will still have to pay the necessary federal and state taxes. Your state will also require you to obtain a business license and other permits to operate.
Obtaining an Alaska business license is one of the most important steps you will need to take. Creating an LLC in Alaska is a great way to start your new business, but it can be a bit overwhelming. The Department of Commerce has a website that provides tools to help you with this process. In addition to the site, you will need to register with the Division of Corporations, and submit the required forms.
Choosing a unique name for your Alaska LLC is essential. It must include the abbreviation “LLC” and the full wording “Limited Liability Company” in order to be accepted. Depending on the exact details of your LLC, you may need to perform extra paperwork.
An Alaska LLC has its own set of laws and regulations, including its own EIN (Employer Identification Number). You will also need to make sure you have a registered agent, who will be your go-between with the state. A good agent will ensure that important business documents reach you in a timely manner. They should also be available during regular business hours, and have a physical address in Alaska.
Another thing to keep in mind is the state’s requirement to file an annual report. This form is similar to a census, and is meant to collect as much structural information about the LLC as possible. Among other things, it features the organization’s main office address, member/manager names, and other pertinent contact information.
The annual report also has a few other features, but is more geared towards keeping the state informed about the business. For instance, the Alaska Department of Commerce maintains a database that helps businesses find information about their names. Additionally, you will need to submit your company’s NAICS code in order to file your annual tax returns.
To ensure that your company is not out of compliance, you will need to make sure you fill out and file all of the appropriate documents on time. Not doing so could cost you administrative dissolution, so it is vital to remember to follow the instructions. Alternatively, you can opt for an outsourced agent to do the work for you.
Yes, an annual report is essential for every business entity in most states. Some states also ask to file biennial or decennial reports to be filed.
A Yearly Business Report or the annual report typically incorporates the address of the business, names & addresses of the members, a list of all the signatories, SSN of the members, & details of the registered agent.
A Registered Agent is well-aware of all the filing requirements, annual report filing fee, & overall Annual Report compliance. The knowledge & proficiency of the registered agent allows the smooth filing of reports & other fees.
The most important thing for filing an Annual Report is record keeping. Make sure that you document every other transaction well.
Yes, the fees may vary depending on the type of entity or the type of legal entity you are representing.
In conclusion, we can see that the annual report – which is also called the Franchise Tax Public Information Report is much easy to be filed. However, it is mandatory to file the report on time to avoid any penalties. If you are running an LLC in the state of Alaska, you have to comply with the filing of certain important documents including the annual report or the Franchise Tax Public Information Report as it is named in the state of Alaska.
It is also important to note that once this Public Information Report is filed with the Comptroller of Public Accounts, there is no need for additional filing with the secretary of state.