AK HB122

Changes "biennial report" to "status report" filed every four years instead of every two years for for-profit corporations, cooperatives, nonprofit corporations, limited liability companies, and limited liability partnerships.

Increases corporation tax for domestic corporations from $100 to $200 and foreign corporations from $200 to $400, with tax due every four years instead of biennially.

Changes cooperative license fees from biennial to every four years, with fees due before July 2 of the reporting year.

Transitions entities that were scheduled to file biennial reports in 2016 to file status reports in 2018, and those scheduled for 2017 to file in 2019.

Takes effect January 1, 2016, with authority for the Department of Commerce to adopt implementing regulations.