Corporate Tax in Anchorage, Alaska

Find the right Corporate Tax attorney in Anchorage, AK

Corporate Tax Lawyers in Anchorage

In Anchorage, Alaska, a "corporation" is defined as a legal entity that's separate from its owners. Therefore, from a legal standpoint, the owner of a corporation and the corporation itself are not the same "person."

This doctrine is recognized as "corporate personhood." While the concept is somewhat abstract, the law of Alaska treats corporations as individual persons, for most purposes. This means that, legally, corporations have many of the same rights, privileges, and obligations as living, breathing human beings.

One of these obligations is the duty to pay income tax in much the same way as an individual person.

Corporate Tax Rate in Anchorage, Alaska

Every corporation in the United States is required to pay federal income tax. Most states also have a corporate income tax, which corporations doing business in Anchorage, Alaska are required to pay.

At the federal level, and in some states, corporations are taxed at different rates from individuals. Federally, the top corporate tax rate is 35% - a rate applying to corporations earning more than .3 million per year. Corporations earning less than ,000 a year pay a 15% corporate tax rate, and there are a few tax brackets in between. For comparison, the federal income tax for individuals maxes out at 33%.

The tax rate in Alaska for corporations probably also differs from the taxes that individuals must pay. In some states, the government has decided that their interests would be best served by making corporate taxes as low as possible. So in many states, the tax rate for corporations is much lower than the one paid by individuals, unlike the federal corporate tax.

Whatever a company's legal tax rate is, all corporations in Anchorage, Alaska must pay the taxes assessed against them. If they don't, they can be made to pay very massive fines - normally much larger than their original tax bill.

How Can a Anchorage, Alaska Corporate Tax Lawyer Help?

Most very large corporations have tax attorneys and accountants on staff, as full-time employees, who help them stay in compliance with all applicable state and federal income tax laws.

But if you are the owner of a small corporation in Anchorage, chances are you don't have a full-service legal department on your payroll. Therefore, if you need help with your corporate taxes, it's important that you speak with a lawyer in Anchorage, Alaska who practices tax law.

Talk to a Tax Law Attorney now!

Life in Anchorage

Anchorage has been voted an "All America City" four times and makes up over 40% of Alaska's total population. The city motto is "Big Wild Life" and there's plenty of it. A survey found roughly 300 black bears and moose, along side 60 grizzly bears call Anchorage home year round. The numbers of moose increase over 1,000 in the winter months. There are also wolves, foxes, beavers, and all other manner of moderate and small native animals that can be easily spotted in Anchorage. That's why so many people decide to visit Anchorage each year.

Tourism play a major role in the economy with natural resource extraction, local and federal government, transportation services, and the military. There are two major military installations in Anchorage, Elmendorf Air Force Base and Fort Richardson, as well as the Kullis Air National Guard Base. In addition to military personnel, the military employs another 8,600 Anchorage civilians. There are a number of airlines headquartered in Anchorage like Alaska Central Express and Hageland Aviation Services but the petroleum industry is one of the most important. Giants like BP and ConocoPhillips have drilling and transportation services in Anchorage that employ thousands of locals.

The International Ice Carving Competition is one aspect to the annual of the Fur Rendezvous Festival held in Anchorage's Alaska Center for the Performing Arts. The festival had a record attendance in 2000 with over 250,000 people visiting. The legendary 9-15 day long Iditarod Trail Sled Dog Race begins ceremonially each year downtown on 4th Street and ends in Nome, Alaska. The race stretches 1,049 miles that are timed. It's known as one of the most intense sporting events due to the distance and blizzards.

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