Select a business name in the first step. You must select a distinctive business name before submitting your articles of incorporation. The name must be distinctive from those of any other companies with Idaho business registrations. On the website of the Idaho Secretary of State, you can determine whether your preferred business name is available. Once you’ve decided on a name, you may submit a Name Reservation Application to reserve it for up to four months.
Determine Your Business Structure in Step 2 Choosing your company’s organizational structure is the next step. You have the option of establishing a corporation, limited liability company (LLC), or other types of business entities in Idaho. Your business demands and objectives will determine the structure you select.
Create the Articles of Incorporation in Step 3 Creating articles of incorporation is the next step after choosing your company structure. The following details must be included in the articles of incorporation:
– Your company’s mission
– Your registered agent’s name and address
Fourth step: submit articles of incorporation You can submit the articles of incorporation to the Idaho Secretary of State after completing them. The articles of incorporation can be submitted in person, via mail, or online. For online and mail submissions, the filing fee is $100; for in-person submissions, it is $120. Do Articles of Incorporation Need to Be Filled Out in Every State?
Yes, in order to legally establish a company entity, all states require that articles of incorporation or other comparable paperwork be filed. State to state, however, may have different criteria and procedures. What Are the Articles of Incorporation Composed of?
The business’s name, address, purpose, number of authorized shares, registered agent, and original directors are normally listed in the articles of incorporation. The particular standards, meanwhile, could differ from one state to another.
The income and costs of an LLC are taxed as pass-through entities in Idaho, which means that they are reported on the owners’ individual tax returns. In Idaho, LLCs are not required to pay state income tax, but they must pay a charge for submitting yearly reports.
The filing fee for the articles of organization is $100 in Idaho, which is the cost of creating an LLC. There is also an annual report cost in Idaho, which is $0.50 per $1,000 of capital, with a minimum fee of $20 and a maximum fee of $5,000.