Legal Bueno

    How to Start Your LLC in Idaho

    Legal Bueno helps with everything you need to start your business. We take care of all the paperwork so you don't have to worry about it. Want to learn more about the process we handle? Keep reading!

    Quick Summary:

    • Filing Fee: $100
    • Turnaround time: 5-7 business days

    How do I start an LLC in Idaho?

    Thinking about starting an LLC? The process is pretty similar across the states. You'll start by picking a unique name for your business (you'll need to check to make sure it hasn't been taken!) and then filing some paperwork—usually called Articles of Organization or a Certificate of Formation—with your state's agency.

    If you want to check the name availability for Idaho, visit https://sosbiz.idaho.gov/search/business.

    After that's taken care of, you'll want to draft a governing doc for your business called an operating agreement & find any licenses you might need. Just keep in mind that each state has its own little quirks, so it's always a good idea to double-check specific requirements for your area.

    What are the costs & processing times of starting a business in Idaho?

    Here's the rundown for Idaho:

    • The filing fee is: $100
    • There are ongoing fees of $0 (however, an information report must be filed every year)
    • It usually takes 5-7 business days if you're filing online or 5-7 business days (plus mail time) if by mail.

    Why Idaho is a great state for your LLC

    Starting a company in Idaho offers numerous benefits for entrepreneurs. Here are some key advantages:

    • Business Incentives and Grants: The Idaho Department of Commerce provides various business incentives, such as workforce development reimbursements, which can give your company up to $3,000 for training new employees. This financial assistance can significantly reduce training costs and encourage business growth.
    • Simplified LLC Formation: Forming an Idaho limited liability company (LLC) is streamlined and straightforward, making it an ideal choice for startups and small to medium-sized businesses. This simplified process allows entrepreneurs to focus more on their business rather than getting bogged down by complex regulations.
    • Flexibility and Protection: An LLC structure offers personal asset protection, shielding your personal finances from business liabilities and debts. This is particularly beneficial for entrepreneurs seeking peace of mind as they navigate the challenges of starting a new venture.
    • Tax Advantages: LLCs in Idaho can benefit from advantageous tax treatments, allowing you to file taxes more simply than other business structures. This can lead to potential savings and ease the financial burden in the early stages of your company.
    • Supportive Business Environment: Idaho boasts a friendly business climate that fosters growth and innovation. The state's commitment to supporting local businesses enhances the probability of long-term success for entrepreneurs.

    By leveraging these benefits, starting a company in Idaho can be both an appealing and strategic decision for many entrepreneurs.

    Legal Requirements

    Remember! Legal Bueno will handle all of these requirements for you, but if you're interested, here are the legal requirements for Idaho:

    Articles of Organization

    A certificate of organization must include:1. The name of the LLC;

    1. The street and mailing addresses of the company's principal office;
    2. The information required by Idaho Code § 30-21-404(a);
    3. The name and mailing address of at least one governor of the LLC; and
    4. If the LLC is a professional entity, a statement that the company is a professional LLC and the principal profession or professions for which the company's members are duly licensed or otherwise legally authorized to render professional services.

    Idaho Code § 30-25-201

    Filing fee: $100

    Filing Process

    After you've prepared the initial formation documents, you need to file it! Here is what Idaho laws require for filing:

    A document that is permitted or required to be filed by the secretary of state must:1. Be physically delivered in written form unless and to the extent the secretary of state permits electronic delivery;

    1. Be in English, and numbers must be in Arabic or Roman numerals, but the name of the entity need not be in English if written in English letters or Arabic or Roman numerals;
    2. Be signed by or on behalf of a person authorized or required to sign the filing;
    3. State the name and capacity, if any, of each individual who signed it, either on behalf of the individual or the person authorized or required to sign the filing, but need not contain a seal, attestation, acknowledgment or verification; and
    4. Be accompanied by any required fee, tax, interest, or penalty.

    The secretary of state may require that an entity filing delivered in written form be accompanied by an identical or conformed copy.

    Idaho Code § 30-25-205; Idaho Code § 30-21-201

    The secretary of state may require that a cover sheet for an entity filing and an annual report be on forms prescribed by the secretary of state.

    Idaho Code § 30-25-205; Idaho Code § 30-21-202

    Additional Legal Considerations

    Here are some additional relevant laws that might be useful when operating your business in Idaho:

    Certificate of good standing or registration

    Idaho Code § 30-21-208

    Annual Report for Secretary of State

    Idaho Code § 30-21-213

    Operating Agreement–scope, function, limitations

    Idaho Code § 30-25-105

    Operating Agreement–effect on LLC and person becoming member–preformation agreement

    Idaho Code § 30-25-106

    Operating Agreement–effect on third parties and relationship to records effective on behalf of LLC

    Idaho Code § 30-25-107