How Much Does It Cost to Start an LLC in Idaho?
Legal business registration — and making sure your business is in compliance — involves some necessary expenses. Some of these costs are payable to the Idaho Secretary of State, while others are due to additional state entities or the federal government. Here are some of the most common requirements and fees.
Please note that Idaho business license and permit fees may need to be paid when you first form your business, on an ongoing schedule or on an ad hoc basis. Find more details below.
Initial Idaho LLC Fees
You’ll need to file as an LLC with the Idaho Secretary of State and pay a filing fee when you first formally form your business. Here are the current Idaho LLC fees and filing times:
When you form your LLC with us, Incfile will charge you this fee and forward it to the Idaho Secretary of State when we file your formation paperwork.
Employer Identification Number
Every LLC in the U.S. should obtain a unique Employer Identification Number (EIN) from the Internal Revenue Service. You'll use it when you open a business bank account, file taxes and pay employees. It's available at no cost from the IRS, or have Incfile obtain one for you.
When you want to do business in a state other than the one where your business is based, you must create a foreign LLC.
Idaho Foreign LLC Registration
Foreign companies are those which are formed in another state or country. In order to transact business in Idaho these entities must file a Foreign Registration Statement with the Idaho Secretary of State.
The registration must be accompanied by a certificate of good standing or a certificate of existence from the domestic state of formation. Register your out-of-state foreign company by filing your statement with the Secretary of State. The filing fee for an Idaho Foreign LLC is $100. The state may have additional requirements so contact the Idaho Secretary of State for more information.
Foreign Qualification to Operate in Another State
If you plan to expand your Idaho LLC into another state, you’ll first need Foreign Qualification or a Certificate of Authority or Compliance from that state. This is necessary if you'll have a physical presence, employees or banking in that state.
This process will likely require you to complete an application and pay a filing fee. Each state typically has its own requirements, so you’ll want to contact the state government entity that administers business (usually the Secretary of State) for specific instructions.
If you need assistance, Incfile provides complete Foreign Qualification service for all states.
Annual Report Requirements
Most states — including Idaho — require businesses to file an annual (or other periodic) report with the Secretary of State. For the state of Idaho, the Secretary of State requires an annual report to be filed once every year. You can file your annual report online via the Idaho Business portal for free. Here are the Idaho annual report filing requirements:
Within 60 days immediately preceding first day of anniversary month.
Idaho Business License and Permit Requirements
As a business owner, it’s your responsibility to make sure you have the proper state, federal or local business licenses to operate your Idaho LLC. Some of the associated fees only need to be paid once, while others are ongoing charges.
Permits and licenses vary based on:
The state of Idaho does not require businesses to have an LLC Operating Agreement in place.
An Operating Agreement is a document that covers the rights and duties of pertinent members, how the business will be run, how managers and members are chosen and several other key areas. It's usually filed with your Certificate of Organization at the time of your formal business formation.
This document can be extremely helpful in making sure you’re organized and prepared for any future events that may affect your business.
Incfile can draft a general Operating Agreement template when you form your Idaho business.
Other Potential Idaho LLC Fees or Requirements
It is normal for your business to pay and meet several other fees and requirements during the life of your LLC. These ad hoc fees will only be payable in specific circumstances, as listed below.
Reserving a Name for Your LLC
If you don’t want to form your LLC right away, you can reserve a business name for 120 days with the Idaho Secretary of State by filing an Application for Reservation of Legal Entity Name form and paying a filing fee of $20. First, perform an Idaho business search and learn about business name rules to ensure you choose a name that meets state requirements.
Amending Certain Facts About Your LLC
Your business formation documents state certain facts about your Idaho business at the time it's formed. Over time, these facts may change. If they do, you'll need to file an Amendment to Certificate of Organization with the Idaho SOS for a filing fee of $30. You can do this yourself or have Incfile file the amendments on your behalf.
Getting an Idaho Certificate of Compliance
Some organizations will request that you prove your LLC’s compliance with laws and tax requirements. Most states refer to this as a Certificate of Compliance or Existence - Idaho calls it a Certificate of Good Standing. If you need to prove you have met your commitments, you’ll need a Certificate of Good Standing from the Idaho Secretary of State. You can request a Certificate of Good Standing from the SOS and pay a fee of $10.
The fees listed above detail many of the charges a standard LLC will be required to pay in Idaho. In some unusual circumstances, there may be other one-off, periodic or ad hoc fees not listed above.
Of course, your LLC will also probably need to pay self-employment, payroll, federal, state and sales taxes. More information about taxes can be found on the Idaho Business Tax page.