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A statement of domestication is used to change the home state of an entity. This process can become complicated for entities registered in multiple states.If a foreign entity intends to or is already transacting business in Texas, what are the penalties for not registering with the secretary of state? There are many reasons to domesticate your Alaska corporation to Florida. For example, business owners here are not subject to state income tax. The company simply files the necessary paperwork with the current state to reflect the domestication. Domesticating to a Domestic (Alaskan) Professional Corp. If designating a registered agent, it must be a person residing in Minnesota, a Minnesota entity, or foreign entity authorized to do business in this state. For example, California imposes a franchise tax on every corporation or LLC that is registered to do business there. 2. Domesticate your LLC.