Incorporation in Alaska

Sitka Incorporation Attorneys, AK

Find the Right Lawyer Now

Alaska law allows a business to incorporate and be recognized as its own legal entity. As a separate entity from the owners, the business is then considered to be operating on its own when it buys and sells property, assents to contracts and exercises legal rights. The Alaska Secretary of State receives and processes applications for incorporation, which must be submitted in compliance with local guidelines.

Benefits of Incorporation in Alaska

There are distinct benefits to incorporating a business. Most importantly, liabilities the business accrues may be satisfied only by assets that the owners have specifically invested in it. Had the business instead remained a collection of the owners' personal assets, the personal property of the stakeholders could be liquidated to pay the liabilities of the business, if it runs into financial problems. A corporation also allows creditors in the Sitka area to assess the credit worthiness of the business as a whole rather than that of its owners, allowing the business to receive loans more easily. Lastly, a corporation's ownership stake is divided into equal slices or "shares" of stock, which make investments in the business much easier to transfer.

Find a Sitka Lawyer that Specializes in Your Area of Need:

2 Business - Transactional cases posted to LegalMatch lawyers in Sitka

Incorporation Attorneys and Law Firms in the Largest AK Cities

Show Alaska Cities

Costs of Incorporation

There are costs associated with incorporation, both short and long term. First, businesses in Alaska may be charged a fee to incorporate. Also, a corporation is taxed as its own entity. The individual incomes of the owners are still taxed also, and this can mean the same income is taxed twice, known as double taxation. With proper planning and assistance from a local Sitka lawyer, you can avoid this disadvantage.

Find the Right Lawyer Now

Breach of Contract Lawyers in Other Alaska Cities and Towns

Top Rated Lawyers

View attorney profiles and see how other LegalMatch users rate attorneys that may respond to your case.

Family Law Lawyer
LegalMatch Family Law Lawyer Shahid M.

Shahid M.

PLACER, CA

Family Law

Rating (2 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer David A.

David A.

COLUMBIA, PA

Family Law

Rating (1 users) *****
See Reviews
Personal Injury Lawyer
LegalMatch Personal Injury Lawyer Jeff G.

Jeff G.

LUNA, NM

Personal Injury

Rating (1 users) ***
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Kyle C.

Kyle C.

WYOMING, NY

Family Law

Rating (1 users) *****
See Reviews

Need a Business Lawyer?

No obligation - Lawyers compete for your case. Choose your issue & get started now: