POPULATION: 735,132 (2013)
LABOR FORCE: 363,400 (2013)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Oil and gas, mining, tourism, fishing, forest products
EXPANDING INDUSTRIES: Oil and gas, tourism, aerospace, seafood processing, mining, maritime industrial services
COLLEGE GRADUATES: (Age 25 and over) 27.5%
BASIC BUSINESS TAXES:
Corporate Income Tax:
0% on taxable income under $25,000;
2% on $25,000 to $49,000;
3% on $49,000 to $74,000;
4% on $74,000 to $99,000;
5% on $99,000 to $124,000;
6% on $124,000 to $148,000;
7% on $148,000 to $173,000;
8% on $173,000 to $198,000;
9% on $198,000 to $222,000;
9.4% on $222,000 or more
Biennial Report Taxes and Fees:
Business corporation: domestic $100, foreign $200; limited liability companies/partnerships fee: domestic $100, foreign $200; cooperative corporation: domestic $100; foreign cooperative corporation, $100
Sales and Use Tax: Alaska does not impose a statewide sales tax. Several boroughs and cities impose a bed tax, alcohol tax, and a sales tax of up to 7 percent on retail sales and certain locally provided personal services; neither Anchorage nor Fairbanks levies a general 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. Alaska levies a property tax on oil and gas properties.
BUSINESS INCENTIVES:
Foreign-trade zones
Oil and gas exploration tax incentive
Minerals exploration tax incentive
Film tax credit incentive
Gas Storage Facility Credit
LNG Storage Facility Credit
Oil and Gas Industry Service Expenditures Credit
Veteran Employment Credit
Salmon Product Development Credit
Education Tax Credit
Alaska Industrial Development and Export Authority (long term financing)
Alaska State Training and Employment Program
University of Alaska, Corporate College programs
Agriculture Revolving Loan Fund
Rural Development Initiative Fund Program
Small Business Economic Development Revolving Loan Fund
Alaska Microloan Revolving Loan Fund
Alternative Energy Conservation Loan Fund
Commercial Charter Fisheries Revolving Loan Fund
Mariculture Revolving Loan Fund
Commercial Fishing & Agriculture Bank (fishing, tourism, and natural resources loans)
PRINCIPAL MANUFACTURING INDUSTRIES
Petroleum and coal products
Seafood processing
Building products
Source: Alaska Departments of Revenue, Tax Division; Alaska Department of Commerce, Community & Economic Development
