FishBiz Project

Financial and business tools for Alaska commercial seafood harvesters brought to you by the Alaska Sea Grant Marine Advisory Program

Initiating Permit or Quota Sales

Bristol Bay. Photo credit Alaska Sea Grant.

Before you can legally sell or transfer fishing permits or quota, you must comply with certain state and federal government requirements. Links to several required forms are in this section.

If you are planning to sell federal IFQs, you'll need to complete an "Application to Transfer QS/IFQ" form. Your buyer will need to hold a "Transfer Eligibility Certificate."

If you are planning to sell or transfer an Alaska State commercial fishing permit, at least 60 days before the transaction you need to file a "Notice of Intent to Permanently Transfer Entry Permit". To complete the transfer, both you and your buyer need to complete a "Request for Permanent Transfer of Entry Permit" together. Both forms are found on the Commercial Fisheries Entry Commission website

Remember, capital gains taxes are due upon the transfer or sale of permits and quota. Many fishermen amortize the cost of permits and quota, so the net sale price will be taxable. A discussion of transfer tax implications is found in the Directed Transfer publication found in our Looking Ahead section. Check with your tax preparer to better understand these implications in your overall exit planning.