How To Set Up An LLC In Idaho (2024 Guide)

There are a few preliminary items to handle before you file documents to set up a limited liability company. These must-do items are detailed in the following sections.

Hire a Registered Agent

Getting a registered agent is essential for registering an LLC in Idaho. Whether an individual or an outside business, this agent receives important legal documents on your company’s behalf. Your agent can be an individual Idaho resident who is at least 18 and has a physical address within the state of Idaho.

If it is not possible to act as your own registered agent, you can hire a company that’s registered with the Secretary of State’s office. You can expect to spend between $35 and $300 a year to hire a registered agent company.

Check Business Name Availability

Before you file LLC papers, it is best to make sure your desired business name is available for use in Idaho. Confirm name availability with a quick search on the Secretary of State’s website. Please note that when you select your name, it must include the words “limited liability company” or “limited company” or the abbreviation “LLC,” “L.L.C.” or “L.C.”

If you aren’t planning to form your LLC right away, you can reserve an LLC name for up to four months by filing a Reservation of Legal Entity Name form. You can expect to pay $20 if filing online, but there is an additional $20 fee for any paperwork filed manually.

If you’re not filing online, documents can be mailed to the Secretary of State’s office at 450 N. 4th Street, P.O. Box 83720, Boise, ID 83720-0080. You can also go directly to the office to deliver your forms.

Expedition and Other Fees

In Idaho, there is often a $20 manual handling fee for paper documents filed by mail or in person. There is also a $40 charge to expedite processing and a $100 fee for same-day filing service. Be aware of these charges and options, as they can impact both the cost of your LLC filings and the amount of time it will take to approve your Idaho LLC formation.

You can avoid the $20 manual fee by filing your LLC documents online.

For domestic LLCs, complete your Certificate of Organization paperwork and include the required $100 fee. The fee remains the same for foreign entities registering to do business in Idaho, but these businesses must file a Foreign Registration Statement form instead. In addition, foreign LLCs need a Certificate of Good Standing or Existence that is no more than 90 days older than the completed registration statement document.

The LLC processing time is typically seven to 10 days. By paying expedition fees, your documents may be processed within eight hours.

Although the immediate process is complete, you will have a few additional steps to take after creating your LLC. Please read the next sections for further insight.

Create an LLC Operating Agreement

An LLC operating agreement is a guide for running your LLC. It may not be legally required, but it is often treated as necessary for providing legitimacy to an LLC. Operating agreements address important details such as owner voting power, financial rights and obligations, the way you’ll deal with departing owners and the day-to-day functions of the business.

Get an Employer Identification Number (EIN)

Most businesses are required to get an EIN for the government to keep track of their business, though single-member LLCs that don’t have employees can elect to use a Social Security number. Even if you’re not required to get an EIN, you may want one for enhanced security and personal privacy.

EINs might sometimes get called a federal EIN (FEIN) or federal tax identification number (FTIN). They are available for free on the IRS website.

Buy a Web Domain for Your Business

If you do not already have a web presence associated with your upcoming LLC, now is a good time to build one. If you do already own a domain, try to get a domain name that matches your business name or reflects your brand identity. Getting a domain name now ensures you’ll have the web identity you want when you’re ready to build a website. In the same vein, it’s never too soon to set up profiles on the social media channels you plan to use to promote your business.

Submit an Annual Report

Every year, Idaho LLCs are required to hand in a yearly report. There is no charge, but it is necessary to keep your business in good standing with the state. Idaho annual reports are filed online through the state’s SOSBiz portal. They are due on the anniversary month of your business’s formation.