You may be asked to provide a certificate of good standing for your Idaho limited liability company (LLC). In addition, many creditors ask for a certificate of good standing before issuing business credit.
An Idaho certificate of good standing is relatively easy to obtain, but it does take some know-how.
What Is an Idaho Certificate of Good Standing?
A certificate of good standing issued by the state verifies that your LLC complies with all Idaho regulations. The state will issue the certificate if you’ve met all deadlines, such as annual report filings.
Keep in mind that in Idaho, you’re not required to get a certificate of good standing, but banks and creditors might request one, so it’s wise to have it on hand.
In What Situations Would I Need a Certificate of Good Standing?
A bank or creditor might request a certificate of good standing as part of their due diligence and risk assessment when they apply for a business loan or business credit.
They need to verify that you’re registered to do business in the state and fully compliant. If you expand your business to other states, you’ll have to register as a foreign LLC. In such cases, the new state may request a certificate of good standing from your home state.
Requirements to Obtain a Certificate of Good Standing in Idaho
You must have a registered business entity in the state, either an LLC or a corporation. Sole proprietorships and partnerships do not register with the state, so they cannot obtain a certificate of good standing.
You’ll also need to be up-to-date on all Idaho business licensing, permits, and reporting requirements for your LLC or corporation in Idaho.
Which Department Issues Certificates of Good Standing in Idaho?
In Idaho, the Secretary of State issues certificates of good standing. You can obtain one online at the Secretary of State’s website.
Search for your business, then click the “Request Certificate.”
The fee is $10, and assuming your LLC is in compliance, you should be able to access your certificate online immediately.
Alternatively, you can download the request form and mail it to the following:
Office of the Secretary of State
450 N 4th Street
PO Box 83720
Boise, ID 83720-0080