Cost To Form An LLC In Idaho 2024: Detailed Reviews & Guides
The cost of turning your business entity into an Idaho LLC can be hard to figure out. The Idaho Secretary of State and Idaho State Tax Commission charge various sums for different Idaho LLC certificate tasks.
Plus, you may be interested in hiring a professional service to help your assumed business become a limited liability company or even a registered agent service. These can all factor into the overall price you pay to get your operating agreement and certificate of organization on file with the Idaho Secretary of State.
That’s why we’ve put together this guide. It covers every filing fee that you need to know about when paying for an Idaho limited liability company. So, without further delay, let’s get started.
What Is an LLC in Idaho?
Before covering your Idaho LLC cost, let’s look at what it really means to start an LLC. A limited liability company is a type of business entity that offers some benefits.
With an LLC, you get a favorable tax situation with the IRS website. LLC owners also receive liability protection for personal assets, and have more flexibility under Idaho law as to how they conduct business.
There are professional services available to help you create a domestic LLC, file online, and complete a foreign registration statement if you need to do so. But you may be able to save some money by filing a certificate of organization and operating agreement with the Idaho Secretary of State on your own.
LLC Cost in Idaho
The cost of turning your sole proprietorship into the legal entity of a manager-managed LLC or member-managed LLC can be broken down into different charges.
All legal documents that you need to submit to obtain business licenses and complete the LLC formation process with the internal revenue service and Idaho Secretary of State are included below.
Idaho LLC Filing Fees
The standard Idaho LLC cost is $120 for your certificate of organization. However, the filing fee increases by $20 if you submit the form via paper instead of online. Plus, you can pay $40 more for expedited service or $100 more for same-day service.
Idaho LLC Annual Report Fees
When you start an LLC, you will have to submit an annual report each year to the Idaho Secretary of State. Some states charge a fee for these Idao business documents, but Idaho doesn’t charge anything.
Registered Agent Fee
You don’t have to pay anything to set up your LLC’s registered agent in Idaho. You can become your own registered agent for your assumed business name to avoid any charges.
But you also have the option of hiring an LLC formation service or registered agent service to act as your registered agent. In that situation, you would pay this third-party company a fee for the service, but there would still not be any Idaho LLC costs for the Secretary of State.
Read more: Best Registered Agent Services 2024
Cost to Form a Foreign LLC in Idaho
The cost of creating a foreign Idaho LLC is the same as it is to create a domestic organization. The Idaho Secretary of State still charges $120 as a base rate, with the same modification options covered previously.
Business Permits and Licenses
Idaho charges different fees for different business licenses. These can range from as little as $20 to more than $500. It all depends on the government agency you need to submit the legal documents to, your business structure, and the kinds of operating agreements that you’re filing.
For example, Idaho business documents for a new pharmacy may cost more than Idaho LLCs looking to sell basic home goods.
Taxes
Idaho LLCs must pay taxes like any other individual or business entity. We’ve broken down what this could look like in the following sub-sections.
Sales Tax Rate
The sales tax rate in Idaho is 4%. This is what youll pay each time you complete a transaction after the Idaho LLC formation process is complete – whether you have an organization online or in person.
State Income Tax
The state filing fees for income tax depend on the amount of money earned during the year. They can range from 1.125% to 6.925% for the highest earners.
Federal Self-Employment Tax
The self-employer tax is charged by the federal government, not the secretary of state. These federal taxes are 15.3%.
LLC Employer Payroll Tax Withholding
The rate for this tax can range from 0.306% to 5.4% depending on various factors associated with how you hire employees and run your LLC in Idaho.
Other LLC Filing Costs
There are other costs associated with creating an Idaho LLC that are worth looking at as well. You may or may not end up paying these depending on the information in your certificate of organization and operating agreement.
LLC Name Reservation Fee
The base filing fee to complete an Idaho LLC name reservation is $20. But you will have to pay another $20 if you submit the paperwork to reserve an assumed business name physically instead of online.
Foreign LLC Name Registration
Idaho uses the same fee structure for foreign LLCs looking to reserve a business name.
“Doing Business As” (DBA) Name
Idaho charges $25 to file a DBA name.
Business Domain Name & Website
The charges for setting up a website and getting a domain can vary substantially depending on how you decide to go about this process and how desirable your domain name is.
Certified Document Copies
You may sometimes need certified document document copies for things like business debts, applicable state taxes, and to open business bank accounts. These cost $16 each.
Certificate of Good Standing (Certificate of Compliance)
The state charges $10 for a certificate of compliance, and the request can take between 7 and 10 business days to process.
Articles of Organization Fee
To file articles of organization for your new limited liability company in Idaho, you will need to pay $100 plus an optional $20 fee to expedite this process.
Attorney Fees
Your attorney fees can vary quite a bit depending on the kinds of support you want. For example, hiring registered agent services that can act as a physical street address and your Idaho registered agent for limited liability protection can cost extra.
Tax ID Number (EIN)
It’s 100% free to get an employer identification number (EIN). You may need one of these for business insurance, setting up a business bank account, and to collect sales tax.
6 Basic Steps to Start an LLC in Idaho 2024
Now that we’ve covered all of the filing fees you need to worry about while setting up a business with a physical address in Idaho, let’s look at the process for getting that principal office address up and running while remaining in good standing with a valid mailing address.
Choose a Name for Your LLC in Idaho
First, you need to choose a business name for your certificate of organization and operating agreement. This business name can’t be in use already and must comply with all relevant rules as outlined in the state’s operating agreements.
Choose a Registered Agent in Idaho
Next, you’re ready to choose a registered agent. You can be your own registered agent or hire a service. The registered agent will accept important legal documents related to your business, and must have a physical address in the state.
File Organizational Paperwork With the State
Now it’s time to file paperwork with the state, such as your operating agreement, certificate of organization, and employer identification number. This is when you will pay the filing fee that we talked about in the previous section.
Obtain a Certificate from the State
Once you’ve paid your filing fee and have submitted valid paperwork, the state will send out the paperwork you need to start running a valid LLC in the state of Idaho. You just need to wait to receive this documentation in the mail.
Prepare an LLC Operating Agreement
At this point, you’re ready to prepare your operating agreement and pay any remaining filing fee. This document tells the state how you plan on running your business for legal and compliance purposes.
Obtain an EIN for Your LLC in Idaho
Finally, you’re ready to set up your EIN in the state of Idaho so that you can do things like open up a business bank account. You can complete this process online entirely for free.
The Top 2 LLC Services in Idaho
If you don’t want to have to create your LLC on your own, then you have the option of hiring a professional service to help you out. Here are two of the best options in the state of Idaho for this.
| Product | ||
| Name | ZenBusiness | Northwest Registered Agent |
| Full review | Read full review | Read full review |
| Link | Check Price | Check Price |
Zenbusiness
ZenBusiness is a great alternative to Northwest that can help you create an LLC at no additional cost if you’re already planning on using their registered agent support. They can also assist you with submitting your annual report, paying your filing fee, and more.
What makes ZenBusiness unique is their offering of after-hours customer support. This allows you to get support for your business whenever you need it most. The company consistently receives positive reviews from customers, in large part, because of the quality of this support.
Northwest Registered Agent
Northwest is a fantastic business services company that can help you out with everything from filing a certificate of organization to completing your annual report. They’ll guide you through the whole process of starting an LLC from A – Z.
The amount you’re charged for this will depend on how you use Northwest. They’ll give you access to all of the documents you need for free. But if you want them to finish those documents and file the paperwork for you, then it will cost $225 annually plus state filing fees. However, this comes with their registered agent service as well.
Read more: Best LLC Formation Services In Idaho (ID) 2024
Final Thoughts
The filing fee that you pay the Secretary of State to launch your Idaho LLC will typically be $120 plus any expediting fees you’re willing to pay. But you may have other charges on top of that depending on the kind of business you’re running and whether you want to hire a professional provider to help you get the paperwork completed.
That being said, the costs of starting an LLC in Idaho are typically worth paying. They give you many nice benefits related to asset protection and taxation that should make the fees you’re charged to get the business up-and-running negligible in the long run.
We hope this guide has been useful to you as you work to get your new company started in Idaho.
The base rate for filing LLC paperwork in Idaho is $120. But you can pay more than that if you want to expedite the process or submit your paperwork physically instead of online.
There aren’t any fees for submitting annual reports in Idaho. However, you may have to pay other fees when creating a new LLC if you want to do things like create a DBA name or reserve a name in advance of filing.
Yes, you can complete the entire process from start to finish without hiring a professional service. But this can be a complicated, time-consuming process, and you may prefer to have the help.