Primer: Corporate Income Taxes Alaska

If you have chosen to incorporate your business, you must file and pay federal income taxes, and, in many cases, state and local income taxes as well.

Local Companies

C2 North Llc
(907) 569-9122
360 W Benson Blvd
Anchorage, AK
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(907) 283-6007
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(907) 276-6660
400 D St Ste 210
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(907) 272-0824
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The Growth Company Lynne Curry
(907) 276-4769
121 W Fireweed Ln
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(907) 479-0472
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(907) 457-7870
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Cli Crossroads Leadership Institute
(907) 258-7002
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Ima
(907) 562-0462
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If you have chosen to incorporate your business, you must file and pay federal income taxes, and, in many cases, state and local income taxes as well.

If you are a C Corporation, you will pay income taxes on income left over after business expenses. These taxes are calculated on a sliding scale that usually increases as your income rises. You may also be liable for other taxes, such as personal-holding-company taxes and the accumulated-earnings tax. You should consult with your tax advisor to see exactly what corporate income taxes apply to your company.

If you are an S Corporation, your company, in most cases, will not pay direct taxes. Instead, the income or loss is passed on directly to the shareholders, who pay the tax at the personal rate. Be aware that some states do not recognize S corporation status and tax the company directly. No matter what kind of corporation you are, your federal corporate returns are due a month prior to personal income tax returns -- the fifteenth day of the third month after the company's fiscal year ends. So, if your year ends on December 31, your tax return is due March 15, instead of April 15. Corporate estimated taxes are due on the 15th day of the fourth, sixth, ninth, and twelfth month after the end of the fiscal year. For a year ending on December 31, that would be April 15, June 15, September 15, and December 15.

Related Articles
- Deciding whether to incorporate out of state Alaska
You are not required to incorporate your business in the state where you're based; you can choose from any of the 50 states or the District of Columbia. However, in almost all cases, it is advisable for a closely-held small business to incorporate in its home state.
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Related Articles
- Deciding whether to incorporate out of state Alaska
You are not required to incorporate your business in the state where you're based; you can choose from any of the 50 states or the District of Columbia. However, in almost all cases, it is advisable for a closely-held small business to incorporate in its home state.
- S Corporation Facts Alaska
- Avoid These Common Errors and Audit Triggers Alaska
- Primer: Employment Taxes Alaska
- Incorporate Out of State? Alaska
- Primer: Personal Income Taxes (sole proprietorships, partnerships) Alaska
- Business Income Taxes Alaska
- Common Business tax mistakes Alaska
- Nonprofit Corporations FAQs Alaska
- How To Deal with Home Business Taxes Alaska

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