State Information

Idaho

Selecting the Idaho Corporation or LLC Name

When selecting a business name to use for your Idaho corporation, it should be remembered that the name will need to be unique and will need to identify you as a separate entity transacting business in the state. The name of a corporation must end with “Incorporated,” “Corporation,” “Corp” or “Inc.”. When developing a name for a limited liability company it must end with “Limited Liability Company” or “LLC”.

It is important to note that the name will be identifying your corporation or LLC as a unique entity. The name will not be accepted if it is likely to mislead the public or if it too closely resembles the name of another corporation or LLC formed in Idaho.

Do not use any type of punctuation such as dashes, periods or commas in name selection. It is recommended that you to try to name your corporation or LLC so that it identifies with the goods or services you provide, but this is not required.

Selecting a Board of Directors

A corporation can have several members as directors but is only required to have one. Since the board is responsible for managing the corporation, it is suggested that the board be comprised of individuals that are officers or shareholders who have some type of daily involvement with the corporation. There is no minimum age requirement for a director of a corporation or LLC in Idaho.

Idaho Taxes

Idaho formed corporations are expected to file the Idaho Corporation Income Tax return, Form ID 41 or Form ID 41S annually, whether a “C” or “S” corporation. The amount of tax is dependent on a number of factors but the minimum tax is $30.00. All corporations are required to file an annual franchise tax report and pay a franchise tax. The minimum amount due is $30.00.

An LLC within Idaho is required to file as either a corporation or a partnership dependent on the election made on the SS-4. Idaho maintains an individual income tax so employers are expected to withhold state income tax and unemployment tax. Idaho maintains a sales and use tax of 6%.

Registered Agent

The registered agent must have a physical street address within Idaho state. PO boxes are not acceptable, within Idaho.

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