New Business Checklist

Legal Requirements

1. Decide if you wish to be a sole proprietor, partnership, LLC, or corporation.
2. File appropriate papers with the state, see http://commerce.alaska.gov/web/cbpl/ or call 465-2570.
3. Obtain an Alaska Business License, call 465-2550, or visit www.commerce.state.ak.us/cbp/
4. Obtain a local business license, if required. Get local sales tax info (for CBJ call 586-5265).
5. Check for occupational licensing or special permits needed (above web-sites), city planning and zoning.

Hiring Independent Contractors

1. In general, independent contractors set their own hours, provide their own tools, have a business license, work for more than one business or client, and perform a specific task (i.e., bookkeeping) rather than being an integral and ongoing part of the business operation.

Strongly Recommended

1. Prepare a written business plan, complete with marketing plan and financial projections.
2. Verify feasibility of the business (and secure financing, if needed) prior to investing significant amounts of money.
3. Take advantage of free (or subsidized) consulting services from one or more of the following organizations: JEDC, SBDC, T&H.
4. Open a business bank account and keep personal & business accounts & expenses separate.

Hiring Employees

1. Obtain an Employer ID# (EIN) from the IRS: call 1-800-829-3676.
2. Review Publication 15 from www.irs.gov to understand the payroll tax obligations.
3. Register with the Alaska Department of Labor, 907-465-2700.
4. Obtain Worker’s Compensation coverage through an insurance company.
5. Maintain compliance with the Occupational Safety and Health Act (OSHA): 465-4855.
6. Notify the Alaska Child Support Enforcement Division of all new hires within 20 days, www.childsupport.alaska.gov