POPULATION: 669,140 (2006)
LABOR FORCE: 335,679 (2004)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Petroleum, government, tourism, mining, fishing, forest products
EXPANDING INDUSTRIES: Transportation, mining and oil, tourism and hotels, aerospace industries, minerals exploration
COLLEGE GRADUATES: (Age 25 and over) 24%
BASIC BUSINESS TAXES:
Corporate Income Tax: 1 percent on taxable income under $10,000; 2 percent on $10,000 to $20,000; 3 percent on $20,000 to $30,000; 4 percent on $30,000 to $40,000; 5 percent on $40,000 to $50,000; 6 percent on $50,000 to $60,000; 7 percent on $60,000 to $70,000; 8 percent on $70,000 to $80,000; 9 percent on $80,000 to $90,000; 9.4 percent on $90,000 or more
Biennial Corporate Tax: Domestic, $100; foreign, $200; nonprofit fee, $15; limited liability corporations/ partnerships fee: domestic $100; foreign $200
Sales and Use Tax: Several boroughs and cities impose a sales and use tax of up to 7 percent on retail sales and certain locally provided personal services; neither Anchorage nor Fairbanks levies a retail sales tax. There are no state sales, income, gross receipts, or inventory taxes.
Property Tax: Real and personal property is taxed by boroughs and cities; the tax is levied primarily on real estate, but some communities also tax personal property; property is required to be assessed at 100 percent of value, however, generally, property is assessed at between 90–96 percent valuation with tax rates ranging from 5 mills to 20.5 mills.
BUSINESS INCENTIVES:
Agriculture Revolving Loan Fund
Alaska Industrial Development and Export Authority (long-term
financing)
Rural Development Initiative Fund Program
Small Business Economic Development Revolving Loan Fund
Foreign-Trade Zones
Alaska Growth Capital
Commercial Fishing & Agriculture Bank (fishing, tourism & natural resources loans)
Alaska State Training and
Employment Program
University of Alaska, Corporate
College Programs
Education Tax Credit
Oil & Gas Exploration Tax
Incentive
Minerals Exploration Tax Incentive