Forming an LLC in Idaho
Located in the northwestern United States, Idaho is a geographically diverse state that’s home to around 1.8 million people. The main industries in the state include agriculture, manufacturing, mining, tourism and forestry.
For most business owners, the fastest and easiest way to start a business in Idaho is by creating an LLC. A limited liability company (LLC) is a type of business entity that’s ideal for startups and small- to medium-sized businesses. You get the advantages and protections of larger Idaho corporations but with much simpler rules and regulations.
Briefly, the benefits of starting a Idaho LLC include:
- Separating and limiting your personal liability from your business liability and debts
- Quick and simple filing, management, compliance, regulation and administration of your Idaho LLC
- Easy tax filing and potential advantages for your tax treatment
Learn more about the benefits of the LLC business structure here.
Six Quick Steps to Forming Your Idaho LLC
This guide has plenty of information on how to form your Idaho LLC, but you can break down the basics of forming a business in ID into just a few simple steps.
First, you need to gather basic information about your LLC, including the names and addresses of the managers or members.
The LLC members are typically the people who own and run the business. They are also the ones who can take profits out of the business to pay themselves.
You will need a distinctive and original name for your LLC that’s not used by any other business in ID. To find out if another company is using your chosen business name, carry out a business entity name search on the ID Secretary of State website.
There are a few rules you’ll need to follow when choosing an LLC name. You can find out more in our guide to naming your Idaho LLC.
Every Idaho LLC must have a designated street address. That could be your home address (if you’re running the company from your residence), your company’s office building or any physical address of your preference. The address must be inside the state of Idaho, but it cannot be a P.O. Box.
Every ID LLC must have a “Registered Agent.” This is an official position; the Registered Agent is someone who receives official legal and tax correspondence and has responsibility for filing reports with the Idaho Secretary of State.
This position can be filled by you, another manager in the business or a dedicated Registered Agent service. Your Registered Agent must have a physical street address in Idaho and must be present to receive important documents for your company during business hours.
At Incfile, all of our packages include a Idaho Registered Agent service that is free for the first year and just $119 per year afterward. We also have a dashboard where you can log in and easily view any document your Registered Agent has received on your behalf.
You will need an EIN to identify your business with the IRS. You use this number when filing and paying taxes or when submitting payroll information and payments for your employees. You can obtain one directly from the IRS, or we can get one for you as part of the Idaho LLC business formation process.
Once you've gathered all the information for your LLC, you’ll need to file a formal document with the ID Secretary of State. This document is known as your “Articles of Organization,” and filing the document creates your Idaho LLC. Here’s what is typically included:
- Your business name and address
- Details of your Registered Agent
- Names of managers or members of the LLC at the time of filing
- Addresses of managers or members of the LLC at the time of filing
- Name of the incorporator
You can file your Idaho Articles of Organization online, mail in a form or have Incfile do it on your behalf. There is a fee to file and start an LLC in Idaho, but you only need to file your Articles of Organization once.
Other Information from the Idaho Secretary of State
These are all the basic steps for forming an LLC in Idaho, but the Secretary of State has plenty of additional information. Try these resources below:
Special Types of Idaho LLCs
A regular Idaho LLC is suitable for most business needs, but you also have a few other options to incorporate a special type of LLC.
Some states, including Idaho, allow certain occupations to form “Professional LLCs.” These types of businesses typically have special requirements and licensing. Here are the occupations that the CO Secretary of State allows to form Idaho professional LLCs:
If your business is already operating in another state and expanding to Idaho, you’ll need to form a foreign LLC.
More information on Idaho filing and licensing requirements here.
What to Do After Forming Your Idaho LLC
Want to know your next steps after creating a new LLC in Idaho? We’ve got you covered. Here’s our guide to understanding your ongoing requirements, setting up new bank accounts, protecting your business name, getting accounting in place and more.
Other Information in This Guide
You’ll find plenty more insight and guidance on the other pages of this guide, including:
Naming Your Idaho LLC
How to search the Idaho business registry of the Secretary of State and find the right name. Includes information on naming rules, fictitious names, reserving a Idaho LLC name and more.
Idaho Registered Agents for LLCs
How to appoint a Registered Agent to your new LLC or change to a different Registered Agent. Includes information on Registered Agent rules and searching forIdaho Registered Agents.
Fees and Requirements for Idaho LLCs
How to understand the various fees you’ll need to pay and the requirements you’ll need to meet for both federal and Idaho rules. Includes details of Employer Identification Numbers (EINs), Idaho and federal business licenses, annual reports and more.
Federal, State, Sales and Other Taxes for Your Idaho LLC
How to understand the various taxes you will need to pay to the federal and Idaho government. Includes details of federal taxes like income and self-employment, and Idaho taxes like sales tax and income tax.
