Overview of Starting an LLC in Idaho
To start an LLC in Idaho, you will need to file the Certificate of Organization with the Secretary of State, which costs $100-$120. Idaho is an attractive state to start a business, offering a beneficial regulatory environment, lower-than-average tax situation, strong state economics, and low startup costs.
Idaho Business Registration Costs
- Idaho LLC Initial Registration: $100
- Idaho Corporation Initial Registration: $100
- Idaho Non-Profit Initial Registration: $30
- Foreign LLC Initial Registration: $100
Benefits of Starting a Business in Idaho
Idaho is ideal for starting a business due to its low cost of living, attracting roughly 20 million tourists annually, creating opportunities for small businesses. The state keeps costs and taxes low for small businesses and offers tax credits for hiring employees and purchasing equipment.
Licensing and Permit Information
- In Idaho, a sole proprietorship does not require a general sales tax permit. However, specific permits are necessary, with costs ranging from $90 to $1,200.
- All businesses need a sales tax ID number and those with employees require a federal employer identification number (FEIN).
Business Incorporation in Idaho
The cost to start an Idaho LLC is $100 for filing the Certificate of Organization. This document officially establishes your Idaho Limited Liability Company. Additionally, incorporation requirements are outlined in the Idaho Business Corporation Act and Idaho Nonprofit Corporation Act.
Additional Information
- Idaho does not have a state business license, but specific state and local licenses and permits may be needed based on your business type and location.
- Idaho offers online resources, training, networking programs, and simple licensing regulations to assist businesses.
- An annual subscription fee is typically around $125 for Registered Agent services.
Conclusion
Starting a business in Idaho can be a rewarding venture with its favorable business environment, opportunities, and resources available to support entrepreneurs.