Creating a Corporation
This is taken
from the business section of the Alaska State Page, and
tells how to actually form a Corporation in the State
of Alaska. Each state is a bit different, you will need
to go to your State's webpage or office to find out exactly
what needs to be done there. This will give you an idea
of what is involved. You can find your state site at http://
state.(your states abbreviation).us for example Alaska's
address is http://state.AK.us
Incorporating
in the State of Alaska
Facts About Corporations
One or more
“natural” persons 19 years or older may act as incorporators
by filing Articles of Incorporation with the Department
of Commerce and Economic Development Corporations Section.
Once the Articles are filed in conformance with Chapter
10 of the Alaska Statutes and all necessary fees and taxes
are paid, a Certificate of Incorporation is issued naming
the corporation and date of incorporation.
Articles of Incorporation
Although the
Corporations Section does have forms for completing Articles
of Incorporation, it is strongly recommended that clients
seek legal counsel before incorporating.
Once the Articles
of Incorporation are signed and verified by the incorporators,
an original and exact copy, along with the filing fees
and biennial corporate tax are delivered to the Corporations
Section. The filing fee is $150 and the biennial corporate
tax is $100. If the Articles are found to be in compliance
with AS 10.06, a Certificate of Incorporation is issued.
The Articles must conform to and include the following
provisions:
Corporate Name
If you cannot
reserve a corporate name while incorporating, it is advisable
to call the Corporations Section, (907) 465-2530,
for a name availability check before filing Articles of
Incorporation, obtaining licenses, printing checks or
stationery. A tentative name availability check can be
given over the phone if you ask specifically for name
availability.
Name availability
cannot be guaranteed over the phone because the number
of calls and documents received each day prevent making
a thorough name check. A more definitive name availability
search is available for those who write in and request
a name. If you wish to possess a particular name before
proceeding to file, you should submit a name reservation,
signed by the owner or incorporator of the corporation,
along with a $25 filing fee. If the name reservation is
accepted, you will be the sole owner of that name for
120 days, and your subsequent filing will be accepted.Please
keep in mind that the reservation of a name with the Corporations
Section does not necessarily mean that you can use the
name without penalty. There may be users who did not file,
but who have a prior common law right to the name. They
may be able to prevent you from using a name, even though
it is available in the files.
Purpose and SIC Code
A corporation
may be organized for any lawful purpose. The SIC (Standard
Industrial Classification) codes most closely describing
the type of business must be stated. A list of SIC codes
is available upon request.
Period of Duration
The period of
duration is the life expectancy of the corporation. Duration
can range from a brief period to perpetual.
Registered Agent and Registered
Office
All corporations
are required to maintain a registered agent and registered
office in Alaska. The registered agent can be an individual
or another corporation but must be registered and in good
standing with the Corporations Section. The registered
agent is the person upon whom process is served on behalf
of the corporation. The registered address is the address
used to mail corporate reports. A change of Registered
Agent and/or Office may be made by requesting Form 08-184.
The Number of Authorized
Shares
The corporation
may authorize any number of shares. The Articles need
only list the total number authorized. No par value or
stated value is required, although the Articles may include
par value.
Names and Addresses of Directors
The initial
number of directors on the board must be stated in the
Articles. Each director holds office until his/her successor
is elected and qualified. A director who is not elected
at an annual meeting holds office until the first annual
meeting of shareholders.
Names and Addresses of Alien
Affiliates
Any Articles
being filed must list the names and the mailing address
of any foreign national either individuals or legal entities
whether located in the state or outside the state.
Names and Addresses of Incorporators
The Articles
must list the names and mailing addresses of each of the
incorporators. There must be a least one incorporator.
Each incorporator must be a “natural” person of at least
19 years of age.
Signatures/Acknowledgments
The Articles
must be signed by each of the incorporators, and the signatures
must be notarized. In addition to the above requirements,
the Articles may set forth any provision not inconsistent
with law, which the incorporators elect to set forth for
the regulation of the internal affairs of the corporation,
including a provision which, under AS 10.06.210, is permitted
to be set out in the bylaws.
Articles of Amendment
A corporation
may amend its Articles of Incorporation to include or
modify any provision not specifically required to be included
in the Articles.
Procedures to Follow When
Filing Your Corporate Report
The following
sections cover: the Biennial Report (description), certain
steps to follow when filing the report, time required
for filing and processing the report, and common reasons
why documents are returned unapproved and not accepted
for filing by the Corporations Section.
Biennial Corporate Report
Both domestic
and foreign corporations are required to file a corporate
report every two years. The report is due January 2nd
and is delinquent after February 1st when penalties apply.
Upon incorporation, a domestic corporation has six months
to file an initial biennial report.The report is mailed
to the registered agent of the corporation. It is important
that the Corporations Section be advised of any change
of registered agent and/or registered office address.
The biennial corporate tax is payable upon filing the
corporate report.
Failure to file
the report or pay the tax will result in involuntary dissolution
of the Certificate of Incorporation or revocation of the
Certificate of Authority.
Steps to Follow When Filing
With the Corporations Section
STEP 1
To ease the
filing process, standard forms are made available from
the Corporations Section for many of the documents required.
The guidelines described in this booklet should not serve
as substitutes for statutory analysis and consultation
with legal advisors.
STEP 2
The document
must be typewritten with dark black ink. All documents
are microfilmed, this process demands a high quality black
typewritten copy. Handwritten documents, documents typed
with a light ribbon, or those typed on colored paper,
cannot be accepted for filing.
STEP 3
Proper fees
must accompany the document (see fee schedule at the end
of this chapter).
STEP 4
Documents should
be mailed to:
Division
of Banking, Securities & Corporations
Corporations Section
P.O. Box 110808
Juneau, AK 99811
Time Required
for the Filing and Processing of Corporate Documents
At least two
weeks should be allowed for reviewing and processing corporate
documents.
Common Reasons
Why Corporate Documents Are Returned Unapproved and Not
Accepted for Filing