This guide will help you set up an LLC in Idaho. It includes step-by-step instructions for obtaining tax IDs and filing documents.
Because they are affordable to set up, offer flexibility for the owners and are simple to manage, LLCs are the most preferred business structure. Your LLC legalizes your business and limits your personal liability. It also allows you to have tax flexibility. As you go through this process, the following steps will guide you.
Step-by-Step Idaho LLC Instructions
Check Name Availability
Your LLC’s legal name may not be in conflict with any registered name. You can search for the name you want to check availability.
Name Search: Idaho Secretary of State Name Reservation: Optional Suffix: A limited liability company’s name must include the phrase “limited liability” or “limited company”, or the abbreviation L.L.C., “LLC,” or “LC.” “Limited” can be abbreviated to “Ltd.” and “company” can be abbreviated to “L.L.C.,” “LLC,” “L.C.” or “LC.”
Designate a registered agent
Before you can file to officially create your Idaho LLC, it is necessary to determine who your Idaho registered agent will actually be. Register agents are the legal representative of a business that receives notices about lawsuits and other legal notices.
Every LLC must have a registered agent according to state law. When you file Idaho articles, the registered agent is identified.
Idaho Certificate of Formation
To create a limited liability company, file the articles of organization
Agency: Idaho Secretary of State Form:
Certificate of Organization Limited Liability Company
Filing Method Online and Mail Agency Fee: $100 + $20 optional expedite fee Turnaround: ~1 week. 1 week with $20 expedite charge Law:
Idaho Statues Title 30: Corporations Chapter 6: Idaho Uniform Limited Liability Company Act
Notes: Two copies are required.
Establish Company Records
Your LLC must maintain accurate and complete records. Your LLC’s first records will be your filed articles of organization. Other official records that your LLC may produce include:
- Minutes of meetings
- Operating agreement
- EIN verification letter
- Modifications and other filings to the LLC during its lifetime
Make the Operating Agreement
An Operating Agreement is the governing document of the LLC. This document outlines the rules and procedures for how the LLC will operate, such as holding an annual meeting. The agreement will be reviewed and approved at your organization meeting.
Organise the Organizational Meeting
The organizational meeting is the first meeting of members of an LLC. To conduct this meeting, you will need to have your filed articles of organisation and your operating agreement. Keep a record of the meeting and keep it in your company records book.
Register for a Federal Employer Identification Number.
An EIN is required for any LLC that has more than one member, or hires employees. A bank account opening requires an EIN.
Agency: Internal Revenue Service (IRS). Form:
IRS Form S-4
Filing Method You can send mail, phone, fax or online. IRS fee $0 Turnaround: Online or over the phone, immediately. 4 business days via fax. 4-5 weeks via mail Notes: Only certain hours are available for the IRS website. Before closing your session, print your EIN. For more information, please refer to IRS Pub 1635 Understanding Your EIN.
Find Idaho State Tax Identification Numbers/Accounts
An Idaho seller’s license is required if your LLC sells retail products. An Idaho withholding account is required for employees. Register online for Idaho tax accounts. Register your LLC with the Idaho Department of Labor and the Idaho State Tax Commission.
- Send your submission to:
- Idaho State Tax Commission
- Filing Method
Online at Idaho Business Register System and Permit/Account Application
Consider Electing C-Corp Taxation or S-Corp Fiscal
Your LLC will automatically be subject to pass-through taxation. However, the majority of LLCs maintain this tax classification. Some LLCs can choose to elect S-Corp and C-Corp tax treatment.
- S-Corp is a tax-saving tool that can be used by owner-employees earning more than $75,000 annually.
- Double taxation is a problem for C-Corps: members pay taxes on distributions and the corporation pays taxes. You may be eligible for C-Corp tax treatment if your profits exceed $250,000 or you offer employee benefits.
Get Business Licenses and Permits
You must have the appropriate licenses and permits to run your business legally. It is easy to find the right licenses and permits for your state and federal business.
Idaho Business License
Idaho does not require licensure for general business licenses.
Idaho does not have an overall business license at the state-level, but licenses from local authorities are required.
You must continue to file for your LLC
You are required to file both federal and state tax returns.
To maintain good standing with the secretary-of-state, many states require that business entities file an annual report. The table below shows the requirements for Idaho LLCs to file an annual report.
Idaho Corporation Annual Report Requirements
Agency: Idaho Secretary of State Form: The Secretary of State’s Office can send you a report by mail. Filing Method Mail or online. Agency Fee: $0 Due: Each year, by the end of each anniversary month. If you were foreign-qualified or incorporated on March 15, your annual report must be submitted by March 31. Law:
Idaho Statutes, SS 30-21-213.
Penalties: No late fee. Your business will be dissolved or cancelled by the secretary within 60 days. Notes:
- Anybody with authority can file.