Alaska tax system, please explain! (Fairbanks, Wasilla: sale, new home, buying)

[RayinAK]

Originally Posted by Classic Satch

Fortunately, Wasilla's sales tax is capped at $12. To me, that qualifies as pretty much nothing.

Didn't they have a gasoline tax in Wasilla not too long ago? As fas as I remember, the sales tax in Wasilla was implemented to proportionally reduce property tax. Is it still functioning the same way?

Thanks.

[31st State Citizen]

Originally Posted by MissingAll4Seasons

Quickish question about Corporate Tax... if my husband and I form an LLC or S-Corp, to save ourselves from some of the liability issues inherent with Sole Proprietorship, would we have to pay Corp Taxes on all "business income" regardless of whether we actually make a net business profit or even pay ourselves a "salary"? Is there a better way to set up our farm than LLC or S-Corp that allows us to qualify for federal business deductions and amortization/depreciation without ending up paying Alaska Corp Tax?

I'm sure your question has been answered since you asked it in 2008, but my understanding from the Business Associations course I took was that if you have an S-Corp or LLC, you pay the individual tax rate like any other individual taxpayer, but if you have a C-Corp, you get double taxed and pay the federal and state (if there is one) corporate income tax. However, with a C-Corp I think you can deduct business expenses.

Best bet is to spend a little money upfront on a tax attorney or CPA for the correct info than have to pay much more later down the road. Or just do a lot of research to find your answer.

[rwjoyak]

Originally Posted by dannie_h11250

How much is property tax in the Fairbanks North Star Burogh

2012 Fairbanks North Star Borough tax rates (in mills):

- areawide: 11.294
- non-areawide: 0.528 (economic development and emergency managment/EMS, levied outside the cities of Fairbanks and North Pole)
- solid waste: 1.237 (levied outside the City of Fairbanks)
- service area add-on: varies by area

See page 7 of http://www.co.fairbanks.ak.us/Financ...d%20Budget.pdf for more info on what each of the above categories means.

If the property is also located within the City of Fairbanks, there is an additional city mill rate of 5.734. If the property is within the City of North Pole, there is an additional city mill rate of 3.0.

[Dakster]

Living in the City of Fairbanks your millage is 18.793. Are they any additional set fees in your property taxes?

Overall that is very close to what I pay here, although the value can only go up as much as the CPI or 3% whichever is LESS... Garbage and some other fees are set fees and not based on value though. Overall m millage is around 18.

[rwjoyak]

Found the actual FNSB Assembly resolution that set the 2012 mill rates - http://co.fairbanks.ak.us/meetings/r...2/r2012-24.pdf - they're slightly different than but pretty close to the ones in my last post. The resolution also shows all the service area mill rates.

http://www.fairbanksalaska.us/wp-con...-SCHEDULE1.pdf shows current City of Fairbanks fees. For example, garbage is $70 ($52 for seniors) per quarter per residence.

[Glitch]

Originally Posted by rwjoyak

Found the actual FNSB Assembly resolution that set the 2012 mill rates - http://co.fairbanks.ak.us/meetings/r...2/r2012-24.pdf - they're slightly different than but pretty close to the ones in my last post. The resolution also shows all the service area mill rates.

http://www.fairbanksalaska.us/wp-con...-SCHEDULE1.pdf shows current City of Fairbanks fees. For example, garbage is $70 ($52 for seniors) per quarter per residence.

Ouch! It only costs me $5 per quarter to take my household trash to the landfill.

[globetraveler]

Originally Posted by Glitch

Ouch! It only costs me $5 per quarter to take my household trash to the landfill.

If I remember correctly, the rates for Fairbanks are for residential pickup. If you want residential trash pickup services here in the valley, the monthly rates from Alaska Waste are:

32 Gallon container, weekly pickup - $16.97 per month
64 Gallon container, weekly pickup - $22.00 per month
96 Gallon container, weekly pickup - $23.84 per month

[Glitch]

Originally Posted by globetraveler

If I remember correctly, the rates for Fairbanks are for residential pickup. If you want residential trash pickup services here in the valley, the monthly rates from Alaska Waste are:

32 Gallon container, weekly pickup - $16.97 per month
64 Gallon container, weekly pickup - $22.00 per month
96 Gallon container, weekly pickup - $23.84 per month

Thanks, but I will pass on residential trash pickup services. It costs $5 per pick-up load of household trash at the landfill (providing it is under 400 pounds). In three months time I produce approximately twelve 30-gallon bags of trash which fills my pick-up. Therefore, I pay around $20 per year to dispose of my trash.

[RayinAK]

Originally Posted by Glitch

Thanks, but I will pass on residential trash pickup services. It costs $5 per pick-up load of household trash at the landfill (providing it is under 400 pounds). In three months time I produce approximately twelve 30-gallon bags of trash which fills my pick-up. Therefore, I pay around $20 per year to dispose of my trash.

Something else: I believe that the Borough taxes (property tax) we already pay covers for the landfill maintenance and transfer stations' dumpsters. The trash pickup businesses are private companies.

I just take my trash to the dumpster site instead of having a smelly trashcan or two in front of the house for someone to take care of it.

[Glitch]

Originally Posted by RayinAK

Something else: I believe that the Borough taxes (property tax) we already pay covers for the landfill maintenance and transfer stations' dumpsters. The trash pickup businesses are private companies.

I just take my trash to the dumpster site instead of having a smelly trashcan or two in front of the house for someone to take care of it.

I just finished building an 8x8 shed for my household trash this past Spring. I use to keep it in the garage until I had a pick-up load, but that created a mouse/shrew/vole problem, and regular visitations from Peppe a wild northern saw-whet owl.

Now that I keep my trash in my shed, my mouse/shrew/vole problem has virtually disappeared, and I have not seen Peppe since this past Thanksgiving.

Before I discovered the solid-waste transfer point on Hollywood Boulevard, near Vine, I use to haul my trash all the way to the Palmer landfill. (I use to live in Hollywood, one block from Hollywood Boulevard, and about eight blocks from Vine in California. Strange that I would end up near Hollywood and Vine almost 3,500 miles away in Alaska. )