How to Syndicate an Apartment Deal in Alaska

On this page

What is the Alaska Rule 506 notice filing?
How do you form the deal LLC in Alaska?
What Alaska landlord and tenant rules should a sponsor know?
Why are comparable sales harder to find in Alaska?
How does Alaska property tax work for an apartment building?
Does Alaska tax the deal LLC or its investors?
How DoorRaise fits in
FAQ

To syndicate an apartment deal in Alaska, you form the deal LLC (or register an outside LLC with the Alaska Division of Corporations), raise under Rule 506(b) or 506(c), and file a Form D notice with a $600 fee through NASAA's EFD, one of the higher state fees. Alaska has no personal income tax and no real estate transfer tax, and it does not disclose sale prices publicly, so comparable sales come from brokers and appraisers.

This is the Alaska version of our general syndication guide. It covers what changes when the building, the investors or both are in Alaska. It is general information, not legal advice.

What is the Alaska Rule 506 notice filing?

Alaska treats Rule 506 interests as federal covered securities and asks for a notice: a copy of the SEC Form D and the fee, filed through the NASAA Electronic Filing Depository (EFD) for the Division of Banking and Securities in the Alaska Department of Commerce. DoorRaise's state data, from NASAA's fee schedule, lists the fee as $600; file within 15 days of the first sale to an Alaska investor. EFD shows the exact amount before you pay, and that amount wins. See blue sky notice filings and blue sky fees by state.

How do you form the deal LLC in Alaska?

An Alaska LLC is formed by filing Articles of Organization with the Alaska Division of Corporations, Business and Professional Licensing; the published fee is $250. Every two years the LLC files a biennial report, with a $100 fee, and it also needs an Alaska business license. An LLC formed elsewhere that will own Alaska property registers as a foreign LLC. Confirm fees with the Division before you file. See forming an LLC for a syndication and foreign qualification in the property state.

Alaska's Uniform Residential Landlord and Tenant Act is AS 34.03. A security deposit cannot exceed two months' rent unless the monthly rent is above $2,000, and the landlord returns it, with an itemized list of deductions, within 14 days when the tenant gave proper notice, or 30 days when not (AS 34.03.070). Evictions follow the notice and forcible entry and detainer steps in AS 34.03 and AS 09.45. Your property manager should use Alaska forms.

Why are comparable sales harder to find in Alaska?

Alaska does not require sale prices to be recorded publicly, so county-style sales records are thin. Use a broker opinion, an appraisal and lender data for comparables, and see sales comps and exit value.

How does Alaska property tax work for an apartment building?

Alaska has no statewide property tax on apartments; property tax is set by organized boroughs and cities, such as the Municipality of Anchorage, and some areas levy none. Where a tax applies, the assessor values the building at full market value each year. Underwrite taxes with the local assessor and mill rate for the building's exact address. See property tax reassessment in apartment underwriting.

Does Alaska tax the deal LLC or its investors?

Alaska has no personal income tax, so investors generally do not file an Alaska return for the deal's income. A corporation pays Alaska corporate income tax, but an LLC taxed as a partnership generally does not. Ask your CPA early; the investor side is in state tax returns for nonresident syndication investors.

How DoorRaise fits in

DoorRaise helps sponsors raise equity for apartment buildings from their friends and followers under Rule 506(b) or 506(c), and verifies that every investor is accredited before they sign. Investors fund by wire into the deal's escrow account at Enterprise Bank & Trust. By default DoorRaise files the notice in the property's state; the first investor from another state pays that state's filing fee by card when they sign, later investors from that state pay nothing, and the sponsor never fronts it. Sponsors pay a $1,500 setup fee (non-refundable) and a flat $5,000 a year administration fee; see pricing or how it works.

FAQ

How much is the Alaska Rule 506 notice fee?

$600, per NASAA's fee schedule. EFD shows the final amount before you pay.

Do investors owe Alaska income tax on the deal?

No. Alaska has no personal income tax.

Does Alaska have a transfer tax?

No.

How large can an Alaska security deposit be?

Up to two months' rent, unless rent is above $2,000 a month.

Sources

This article is general information as of November 2026, not legal, tax or investment advice. State laws and fees change: confirm with the state agency and your own attorney before you file. DoorRaise is not a law firm, broker-dealer, investment adviser or funding portal.