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Alaska

A guide to help you understand the ins and outs of business in Alaska

Overview

Alaska, “The Last Frontier”, is the largest state in the country. However, its population is just the opposite in comparison, with 710,000 residents, making it the 3rd least populous state. Anchorage is the largest city in the state and the commercial capital, but Juneau serves as the capital. Alaska’s GDP in 2019 was $54,386,000,000.

The three top industries in the state are oil and gas, tourism, and fishing. Furthermore timber, mining, and agriculture also play large parts in Alaska’s economy.

In 2019, Alaska exported $110,006 to Qatar, with its top exports being: pharmaceutical products, vehicles (except railway and tramway, and parts), miscellaneous articles of base metal, natural pearls, precious stones and minerals, and coins.

Alaska has a graduated corporate income tax rate. It has nine tiers that range from 2% on the first $25,000 of income, to 9.4% on everything greater than $222,000. The state has 29 incentive programs, seven of which are tax credit incentives. Furthermore, Alaska has four free trade zones, located in Anchorage, Fairbanks, Kodiak, and Valdez.

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