{"id":3553,"date":"2016-05-06T16:21:10","date_gmt":"2016-05-06T23:21:10","guid":{"rendered":"http:\/\/evergreensmallbusiness.com\/?page_id=3553"},"modified":"2019-06-27T13:19:17","modified_gmt":"2019-06-27T20:19:17","slug":"setting-up-an-alaska-s-corporation","status":"publish","type":"page","link":"https:\/\/evergreensmallbusiness.com\/s-corporation-kits-for-all-fifty-states\/setting-up-an-alaska-s-corporation\/","title":{"rendered":"Setting Up an Alaska S Corporation"},"content":{"rendered":"

\"Picture<\/a>A lot of people in Alaska are self-employed and don’t even know it. There are lots of stories about fishermen and the IRS. Everybody’s got the friend of a friend who got hit hard.<\/p>\n

If you\u00a0profit in the upper five figures (or more) annually from 1099’s or self-employment activity, you may be a prime candidate to operate as an s-corporation.<\/p>\n

The Subchapter S election is\u00a0straightforward way to save on self-employment taxes. One caveat is that\u00a0it does require a few more forms to file annually, so it really shouldn’t be considered unless you are willing to invest the time and effort to learn how to prepare them yourself. Or, more likely, be willing to pay a qualified person a reasonable sum to prepare them for you.<\/p>\n

For tax savings on up to 15% of your first $120,000 in profits (plus an additional 3-4% on amounts beyond that!), it might be very worthwhile though.<\/p>\n

Our Alaska\u00a0S Corporation kit<\/h2>\n

We provide two base entity options of the kit, one with a limited liability company. The other with a corporation. If you are a one-man operation or don’t have immense complexity, odds are you will want our LLC kit. The reasoning for this is because it has fewer annual requirements and generally is easier to set up and operate.<\/p>\n

Both kits include instructions for setting up the entity type in the state of Alaska as well as filing IRS Form 2553 federally.<\/p>\n

Option 1) LLC:<\/p>\n