Costs to Form an LLC in Idaho: TRUE Prices Revealed
The main expense of starting a Limited Liability Company (LLC) in Idaho is $100. When filing the LLC’s Certificate of Organization, this fee is paid to the Idaho Secretary of State. Contained in this article are the lists of necessary fees associated with forming an Idaho LLC.
- Start an Idaho LLC for The Best Price With PRO Help
- Forming an LLC in Idaho: Various Costs
- Costs Breakdown for Idaho LLC
- How to Form an Idaho LLC on Your Own?
- Filing an Annual Report for Idaho LLC
- Registered Agent in Idaho
- Business License in Idaho
- Operating Agreement in Idaho LLC
- Get Professional Help in Forming an LLC in Idaho
Forming an LLC in Idaho: Various Costs
|Online Filing Fee||$ 100|
|Idaho’s Annual Report Fee||FREE|
|Fee for a Registered Agent (on 1st year)||$ 39|
|Forming a Foreign LLC||$ 100|
|Reservation of the LLC Name||$ 20|
|Registration of a Foreign LLC Name||$ 60|
|Name of “Doing Business As” (DBA)||$ 25|
|Copies of Certified Documents||$ 10|
|Copies of Certified Documents – Per Page||$ 0.25|
|Good Standing Certificate||$ 10|
The $100 price to file your LLC’s Certificate of Organization online with the Idaho Secretary of State is the most expensive part of incorporating an LLC.
LLCs must file an annual report with the Secretary of State in Idaho and the fee for filing this is being waived.
This form can be submitted through the Idaho SOSBiz website. It is payable every year at the end of the month in which the business was founded.
You may be your own registered agent in Idaho but hiring a registered agent service keeps your company compliant and informs you of critical filing dates so you don’t have to pay late fines.
For the first year, registered agent costs start at $39 per year.
If you currently have an LLC in another state and want to extend your business into Idaho, you’ll need to register it as a foreign LLC in Idaho.
The cost of forming a foreign LLC in Idaho is $100. A Foreign Registration Statement for a Limited Liability Company can be used to establish a foreign LLC in Idaho.
Permits and Licenses for Businesses
Your business may require federal, state, and municipal permits/licenses to lawfully operate in Idaho, depending on your industry and geographic area. This is true whether you create an LLC or any other sort of business entity.
Other Fees for Forming a Limited Liability Company in Idaho
There are a few extra costs involved with forming an Idaho LLC:
By completing an Application for Reservation of Legal Entity Name and paying the $20 filing fee, you may reserve your name for up to four months before forming your LLC.
If a Foreign LLC’s name is not available in Idaho, they can file an Application for Foreign Name Registration and pay a $60 filing fee to register a new name.
To create a name different than your official LLC business name, file a Certificate of Assumed Business Name and pay the $25 filing fee.
You may purchase certified copies of your Idaho business paperwork from the Secretary of State for $10 with an additional $0.25 per page.
An Idaho certificate of good standing can be obtained by contacting the Secretary of State and paying the $10 cost. Banks and lending institutions frequently demand a certificate of good standing.
Costs Breakdown for Idaho LLC
When starting an LLC in Idaho you will mainly have a few choices which are as follows:
- Forming it yourself (total cost: ~$190): Filing Articles of Organization with the state ($100) + Name reservation (avg. $30) + Choosing a Registered Agent (avg. $60).
- Forming an Idaho LLC With ZenBusiness (~$49 for a basic option).
- Forming an Idaho LLC With Northwest Registered Agent ($35/mo for the best solo package they have).
… or you can read our best LLC formation services guide to find out about other prices with other LLC service providers.
FAQ: Idaho LLC Various Costs
Is it necessary to pay an annual fee for an Idaho LLC?
Idaho LLCs must file an annual report each year, but they are exempt from paying any state fees.
Is it really required to form a LLC?
An Idaho LLC or LLC in general offers a limited liability protection. This implies that in the case of a business loss, such as a lawsuit or unpaid debt, an LLC protects your personal assets. Any small firm with even the tiniest degree of risk or liability should incorporate an LLC, according to our research.
What is the most cost-effective approach to form an LLC?
By completing the formation procedure yourself, creating your own operating agreement, acting as your own registered agent, and obtaining your own EIN, you may save money on an LLC.
Is it possible for me to pay myself a salary from my LLC?
You can pay yourself a salary from your LLC, but if your LLC is taxed in the IRS’s default manner, it would be referred to as a draw or distribution.
Is a S corporation preferable than an LLC?
An S corporation (S corp) is a tax status administered by the Internal Revenue Service, not a form of commercial entity. An LLC can be taxed either as a regular corporation or as an S corp. Being taxed as a S corporation might make a lot of sense for some firms.
Which is preferable: a single proprietorship or an LLC?
Because sole proprietorships do not provide any liability protection, they are only suitable for enterprises with a very low risk of liability.
How to Form an Idaho LLC on Your Own?
It’s simple to start an LLC in Idaho by yourself; just follow the five procedures below.
5 Easy Steps in Forming an Idaho LLC on Your Own
Step 1: Give Your Idaho LLC a Name (Price: $20-$45)
When naming your Idaho LLC, make sure it meets the following criteria:
- Is legal in the state of Idaho to utilize.
- Idaho’s naming standards are met.
- Is it possible to purchase a web domain?
We suggest looking online to see whether your company name is accessible as a web domain. Even if you have no plans to construct a company website right now, you may wish to purchase the URL to prevent others from doing so.
Step 2: Find a Person/Company to Act as Your Registered Agent (Price: $50-$300)
In Idaho, all LLCs are required to have a registered agent. The principal point of contact for your LLC with the state is a registered agent. They are also in charge of accepting service of process in the event that your company is being sued.
Your registered agent in Idaho must:
- Be at least 18 years old.
- Have a physical address if you live in Idaho.
- Be ready to accept service of process during regular business hours.
Step 3: Certification of Organization Filing (Price: $100)
The Idaho Certificate of Organization (aka Articles of Organization) is a document that must be filed with the Idaho Secretary of State in order to incorporate an LLC. A Certificate of Organization costs $100 to file online.
Step 4: Create an Operating Agreement for Your Idaho LLC (Price: FREE)
Although an operating agreement isn’t necessary for Idaho LLCs, having one is a good idea.
What is the definition of an operating agreement? An operating agreement is a legal document that spells out an LLC’s ownership and running processes.
What are the benefits of operating agreements? A detailed operating agreement guarantees that all firm owners are on the same page and decreases the likelihood of future disagreement.
Step 5: Obtain an EIN (Price: FREE)
What is an EIN number? The Internal Revenue Service (IRS) issues an EIN, or Employer Identification Number, to identify a firm for tax reporting reasons. An EIN is a company’s version of a Social Security number (SSN).
What is the purpose of having an EIN? For the following, an EIN number is required:
- Getting a company bank account is a big step
- Recruiting staffs
Filing an Annual Report for Idaho LLC
To be in good standing and prevent costly fines or penalties, you must stay on top of your state’s filing deadlines after forming your Idaho LLC.
For an Idaho LLC, we will answer these questions:
- What is an Annual Report?
- What is the Procedure for Submitting an Annual Report?
- Is it Necessary for me to Hire a Registered Agent?
What is an Annual Report?
In Idaho, an annual report is a yearly document that your LLC must submit to keep your business information up to date, including:
- Address of the company
- Name and address of the registered agent
- LLC governors’ names and residences (i.e., members or managers)
This report is intended to keep your company records up to date with the State of Idaho. This enables creditors and other interested parties to check up your company address in the event that they need to get in touch with you. This information is used by the government to trace the payment of your LLC state taxes.
What is the Procedure for Submitting an Annual Report?
The Secretary of State’s website is where you may file your Idaho LLC yearly report. You’ll need an account with the state’s Online Business Services site, as well as access to your company’s information.
Filing an Annual Report for Idaho LLC
|Mailing Address||Secretary of State 450 N. 4th St. P.O. Box 83720 Boise, ID 83720-0080|
|Due Date||Idaho LLC annual reports are due by the end of the month in which your LLC celebrates its first anniversary (i.e., the month when you initially formed your LLC with the state).|
|Late Filings||While there are no late filing costs, failing to file an annual report may result in your Idaho LLC being dissolved.|
Is it Necessary for me to Hire a Registered Agent?
A registered agent is a person or corporation designated by your firm to receive and submit official documents on your behalf. You may ensure that your LLC’s reports are always filed on time to the relevant government agency by employing a registered agent service. The following are the three primary benefits of employing a registered agent service for your limited liability company:
- Prevent yourself with penalties from filing: If an Idaho LLC fails to file an annual report, the Secretary of State has the authority to dissolve it. A registered agent service will remind you when reports are due, and for an extra cost, they may also file the paperwork for you.
- Acquire adaptability: A registered agent service may receive and deliver paperwork for your LLC during normal business hours, allowing you to avoid being on the clock from 9 a.m. to 5 p.m. till 5 p.m. once a week In places where you don’t already have a company presence, you can also employ a registered agent service to incorporate an LLC.
- Safeguard your confidentiality: Using a registered agent service keeps your personal address off public records, preserving your privacy. Furthermore, if your LLC is sued, the lawsuit will be served at the registered agent’s address rather than your company address.
Registered Agent in Idaho
Every formal business in Idaho is required by law to have an Idaho registered agent. A registered agent receives any official documents from the State of Idaho, as well as any service of process that may be served on a business in the course of litigation.
We’ll go over everything about what a registered agent is, what they do, and how to choose one in our Idaho Registered Agent guide.
What is a Registered Agent in Idaho?
An Idaho registered agent is an individual or corporate organization that serves as your company’s point of contact for:
- All correspondence with the State of Idaho, including the Idaho Annual Report and a certificate of good standing.
- In every litigation, receives all serve of process for the company.
A registered agent is needed by law for any formal business in Idaho, such as an LLC, corporation, or partnership.
Why Do Companies Hire a Registered Agent in Idaho?
Yes, any owner or employee of a company can serve as its registered agent in Idaho if they are at least 18 years old and have a physical address in the state.
You might even elect a member of your LLC, or even a trusted friend, as long as they match these standards as well.
Many firms, however, choose to employ a registered agent service.
You might even elect a member of your LLC, or even a trusted friend, as long as they match these standards as well.
Many firms, however, choose to employ a registered agent service.
If you do not reply swiftly to service of process, you may face legal challenges, costs, or other concerns. Your papers will be scanned, shared with you online, and you will be notified when they are ready.
If you function as your own registered agent and work from home or a private office, your address will be made public on the Idaho Business Search.
A registered agent service will use their own address instead of yours if you value your privacy.
Getting service of proceedings for a litigation at your place of business can be a delicate circumstance to deal with in front of your staff and customers.
A registered agent will accept any service of process and other papers at their office and quietly deliver them to you online to avoid this problem.
You must be available at all times throughout normal business hours, every working day of the year, if you are your own registered agent.
Registered agent services have actual offices and employ personnel to cover those hours, allowing them to be accessible when needed.
Hiring a registered agent service gives you greater flexibility in terms of working hours and locations. So go on a holiday, work from home or the office, or tour the world knowing that your paperwork will be taken care of.
A reputable registered agent service will scan your papers as soon as they arrive, preserving a digital record of all your company documents as well as any service of process on a user-friendly dashboard.
If you hired an LLC creation provider, you’ll most likely employ them as your registered agent as well. As a result, a copy of your formation paperwork will be available online as well.
When you need to conduct things for your business, such as create a business bank account, apply for a business credit card, apply for small business loans, and many other things that require a copy of your paperwork, having all of this information available as PDFs is really beneficial.
A registered agent is required for your foreign LLC or other company if you want to grow your business into other states, such as by employing an out-of-state employee or opening a new sales office.
Most registered agent services are available in all 50 states and Washington, D.C.; simply pay a small fee for each additional state, and they will transmit all of your paperwork to the same online dashboard.
What Does it Cost to Hire a Registered Agent?
The annual cost of using a registered agent service is normally between $50 and $300. When you consider how much time you’ll save, this is a modest amount to pay – it’s definitely worth it.
In Idaho, how do I choose a registered agent?
When you finish your LLC’s Certificate of Organization in Idaho, you’ll be asked to choose a registered agent. In Idaho, the Certificate of Organization is the most important document for forming an LLC.
Mailing a Request for a Registered Agent – download the Certificate of Organization form ($100 filing cost plus $20 processing charge), fill out the appropriate fields, and mail it to the Idaho Secretary of State.
How can I change my registered agent in Idaho?
Simply fill out a Statement of Change of Registered Agent, Registered Office, or Both form and send it to the Idaho Secretary of State, along with a $20 filing fee paid by cheque or with credit card (online).
This can be done over the phone, over the mail, or in person.
Your new registered agent will have to agree to their appointment as well. They sign the Statement of Change form to do so.
FAQ: Registered Agent in Idaho
Is it necessary to have a registered agent in Idaho?
With the exception of New York, every state in the United States requires all corporations and limited liability companies (LLCs) to have a registered agent. In various places, a registered agent may be referred to as a resident agent, a statutory agent, or an agent for service of process.
What does it mean to “serve of process”?
Receiving legal documents, such as a summons, is known as service of process. Due to a pending litigation, a summons is an order to appear before a judge.
Is the term “registered agent” synonymous with “owner”?
No. A registered agent can be a business owner, although a registered agent is not always a business owner.
What is the function of a registered agent service?
A registered agent service is a business that undertakes to accept service of process on behalf of a limited liability company, corporation, or nonprofit organization.
Business License in Idaho
An Idaho business license can be obtained online. The information you’ll need to get federal, state, and municipal licenses and permissions for your small company, including the seller’s permit, will be outlined in this document.
How to Obtain a Business License in the State of Idaho?
By submitting an application to the appropriate licensing or regulating body for your business, you can obtain a business license online or by mail.
The type of license you’ll need depends on your business’s activity and location (zoning requirements).
The following are the three primary licensing authorities:
Business Licensing in the State of Idaho
The sales tax permit, often known as a seller’s permit, is Idaho’s most important state-level authorization or license.
If you do any of the following, you must acquire a sales tax permit:
- Are you a businessperson in Idaho?
- Intend to sell or lease items or services that are subject to sales tax in your state.
Idaho also needs additional licenses or permits for some firms in specific sectors and professions. The website for the state’s Licenses, Permits, and Regulations includes connections to several state professional licensing boards where you may learn more.
Local Business Licensing in Idaho
Depending on your company activity or location in Idaho, you may require additional licenses or permissions from your local government.
The city of Boise, for example, demands a separate business license for a variety of occupations.
For further information, contact your local Idaho city or county clerk or recorder’s office.
Steps for Obtaining a Business License in Idaho
Permit to Collect Sales Tax in Idaho
You may apply for a sales tax permit in Idaho online or by mail.
If your company has numerous locations, you’ll get a different sales tax permit for each one, but you only need to fill out one form if they’re all under the same name. You will need to register each site separately if they operate under different names.
Apply for An Idaho Sales Tax Permit
|Option 1||Use the Idaho Business Registration System to Submit an Application Online.|
|Option 2||Submit an Application by Mail|
|FREE||Idaho Business Registration P.O. Box 36 Boise, ID 83722-0410|
Other Corporate Licenses in Idaho
Other Idaho business licenses need other procedures. For further information, contact the appropriate state, county, or local government office.
It is not necessary to renew the Idaho sales tax permit.
For further information on the renewal procedures for any other licenses or permits your company holds, contact the applicable state, county, or local government agency.
Business Licenses and Permits from the Federal Government
You can obtain a business license by submitting an application to the appropriate licensing and regulatory body for your industry. The type of license you’ll need depends on your business’s activity and location (zoning requirements).
If your company engages in activities that are controlled by the federal government, you must get the necessary business license or permission.
FAQ: Business License in Idaho
Who needs a business license in Idaho?
An Idaho sales tax permit is required for every firm that sells taxable products or services. Other licenses may be required for businesses in particular professions or localities.
To start a business in Idaho, what licenses do I need?
Most companies will require an Idaho sales tax permit at the very least. Other licenses may be required for businesses in particular professions or localities.
What is the cost of an Idaho business license?
An Idaho seller’s permit has no registration fees. Other licenses are priced differently.
How do I obtain a business license in Idaho?
You may apply for a sales tax permit in Idaho online or by mail. Use the Idaho Business Registration System website to register online. The procedure for obtaining additional licenses differs.
Is it necessary for me to renew my business license in Idaho?
It is not necessary to renew the Idaho sales tax permit. For further information on the renewal procedures for any other licenses or permits your company holds, contact the applicable state, county, or local government agency.
Operating Agreement in Idaho LLC
An operating agreement should be in place for every Idaho LLC owner to secure their company’s activities. While an operating agreement is not legally needed by the state, it will create clear norms and expectations for your LLC while also establishing your legitimacy as a legal company.
An LLC’s ownership structure and running processes are outlined in an operating agreement, which is a legal document.
Your operating agreement should include all of the items below, whether you’re creating a single-member or multi-member LLC. Some of these provisions will have little impact on the day-to-day activities of a single-member LLC, but they must be included for the sake of legal etiquette.
- Organization: When the LLC was legally founded, who its members are, and how ownership is distributed are all things to consider. Multi-member LLCs might have an equal ownership structure or allocate different “units” of ownership to different members.
- Management and Voting: Determine whether the LLC will be governed by its members or by an appointed management, as well as how members will vote on business concerns. Each member usually has one vote, but you may want to give certain members greater authority than others.
- Capital Contributions: The amount of money invested in the firm by each member. This is also the time to plan how you can raise extra cash in the future.
- Profits and losses will be distributed among the members according to the distributions. The most popular method is to equitably divide earnings. You should specify how you want them divided in your operating agreement if you want them shared differently.
- Changes to the Membership Structure: How will duties and ownership be transferred if a member departs the organization? In the LLC’s governing document, it’s critical to spell out the procedure for buying out and/or replacing a member.
- Dissolution: If all of the members of your LLC decide that you no longer want to do business, you should dissolve it formally. The procedure of hypothetically dissolving your company is a crucial part of your operating agreement.
Get Professional Help in Forming an LLC in Idaho
It can be difficult and time-consuming to form an LLC. It might be beneficial to have some assistance, and we’ve compiled a list of two of the top LLC creation services available.
#1 – ZenBusiness can help you form an LLC in Idaho
ZenBusiness provides LLC creation services at a low cost and with a number of useful features. Most LLCs will benefit from two of these aspects in particular. All of ZenBusiness’s products include a year of complimentary registered agent service. With their Pro and Premium Packages, they offer ensure worry-free compliance. ZenBusiness will file your yearly report and notify you if there is anything further you need to do to be in compliance with the state under this assurance. For $119 per year, those with the basic package can purchase worry-free compliance.
ZenBusiness will help you form an LLC in Idaho for $100. They have a customer satisfaction rating of 98 percent and over 4500 verified reviews.
Review count: 4500+
Form an LLC today with ZenBusiness for only $49. They Have 98% customer satisfaction rating and over 4500+ verified reviews.
#2 – Create a LLC in Idaho using Northwest Registered Agent
With decades of expertise, Northwest Registered Agent is an exceptional LLC creation service. They deliver excellent, well-informed customer service. Their biggest benefit, though, is the seclusion they provide. They don’t outsource any of their services to third parties, don’t sell your information, and even build their own code.
Northwest can help you form an LLC in Idaho right now. They have a customer satisfaction rating of 98 percent and over 4150 verified reviews. They’ll come with a complimentary year of registered agent service!
From $35+State Fees
Review count: 4150+
Form an LLC today with Nortwest. They have 98% customer satisfaction rating and over 4150+ verified reviews. They will include 1 year of free registered agent service!
In the event of a lawsuit or business collapse, forming a Idaho LLC is a fantastic method to safeguard your personal assets. Fortunately, Idaho makes forming an LLC simple and offers a favorable business climate. If you want to create a Idaho LLC, simply follow the instructions above and you’ll be up and running in no time.
Alternatively, you may hire one of the professional services listed above to get everything taken care of for you.