Economic Incentives & Tax Credits
High impact incentives for small businesses in Alaska
Alaska is the largest U.S. state by area, comprising more total area than the next three largest states of Texas, California and Montana combined. It is also the most sparsely populated U.S. state with a population of 736,081 as of the 2020 census. While the State of Alaska does not offer business attraction programs comparable to the Continental United States, the state does offer several targeted incentive programs to support growth for start-ups as well as the main industries of natural resource extraction (Agriculture, Fisheries, Forestry, Timber, Minerals, Mining, Oil & Gas), renewable energy, film/digital media and tourism industries.
Top tax incentive programs for small and medium-sized businesses in Alaska
Alaska Education Tax Credit
Alaska's Education Tax Credit program encourages private businesses to make charitable contributions to support schools in Alaska.
Alaska State Grant Funds for Federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR)
The grant provides funding opportunities to businesses that have a Phase I or II SBIR or STTR grant
Bulk Fuel Revolving Loan Program
The program works to assist communities, utilities, and fuel retailers with purchases of bulk fuel to generate power or supply the public with fuel for use in rural communities.
Mining Exploration Incentive
The credit a deduction for qualified costs including personnel, transportation, fuel, camp, communications, geochemical, geophysical and contractual expenses for new mines.
National Petroleum Reserve-Alaska (NPR-A) Impact Grant Program
The program hopes to help mitigate significantly adverse impacts related to oil and gas development in Alaska.
Salmon Product Development Tax Credit
A taxpayer that is a fisheries business may claim a salmon product development tax credit of 50 percent of qualified investment.
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Get the Tax Money You're Owed in Minutes
Subcity empowers small businesses, CPAs, and finance professionals to identify and apply for economic incentives and tax credits. Each year, over $100 billion is allocated for incentives across local, state, and federal programs in the U.S. Unfortunately, a significant portion of this money goes unclaimed or to large corporations with teams of tax attorneys and legal experts.
Subcity utilizes a comprehensive database of incentives to connect small businesses with the programs that were designed to help them create jobs, invest in their communities, and grow their business. Subcity charges a 10-20% fee for the programs they successfully secure, ensuring zero risk for clients as payment is contingent on results. Subcity is on a mission to democratize access to capital for America’s small businesses and has already delivered tens of millions of dollars in tax incentives for clients across the country.