If you’re starting a business in Idaho, you may consider forming a limited liability company (LLC). Before diving in, you should know that this comes with costs.
To prepare you, this handy guide details all you need to know about launching an LLC in Idaho.
Idaho LLC Costs
|Name Reservation Fee||$20
|LLC Registration Fee||$100
|Business License Fees||Vary by localities and type of business
|Annual Report Fee||No fee
Name Reservation Fee
One of your first decisions will be what to name your LLC. Once you’ve chosen the perfect name, you can reserve it with the state until you’re ready to form your LLC officially.
To do so, you’ll need to make sure the name is available. Here’s how:
1. Check for availability in Idaho
To ensure the business name is available, go to the Secretary of State’s website and enter the names you like as well as similar names. You don’t want a business name that can be easily confused with other businesses in Idaho.
2. Check Idaho LLC name regulations
In Idaho, your LLC name must include the phrase “limited liability company,” or an abbreviation such as LLC or L.L.C. Your name cannot include words that could confuse your LLC with a government agency or words like bank, insurance, or university without state approval.
Additionally, your name must be distinguishable from all other business names in Idaho.
3. Check Trademarks
It’s a good idea to ensure the name has not been trademarked. Check with the US Patent and Trademark Office to ensure the name is available nationally.
4. Check domain name availability
You’ll want to ensure the domain name is available. You can check at a site like GoDaddy.com and use .com or .org, as those give your business more credibility.
5. Google it
Do a Google search to ensure the name is not being used in the U.S. or internationally. This is particularly important if you plan to have a strong online presence for your business.
Once you’ve done your due diligence and know your preferred business name is available, you can reserve the name by using this name reservation form. The fee is $20 plus $20 for manual processing, and the name will be held for four months.
To avoid the manual processing fee, you can file on the Secretary of State’s website by creating an account and filling out the name reservation form.
Cost to Register Your LLC in Idaho
To officially form your LLC, you’ll file a certificate of organization at the Secretary of State’s website. You’ll need the following information:
- Business name
- Business address
- Registered agent name and address
- Names and addresses of LLC governors, meaning members and managers
- Mailing address for correspondence
In Idaho, the fee is $100, and your LLC should be approved in seven to 10 days.
Business Licenses and Permits
Your LLC may also need to obtain licenses and permits at the federal, state, and local levels. These, of course, come with varying fees.
At the federal level, licenses and permits are generally industry-specific and may include health licenses and permits from the Occupational Safety and Health Administration (OSHA).
You may need a general business license to operate at the state level. If you sell tangible goods or services subject to sales tax, you’ll need a sales tax license, also known as a seller’s permit.
Check the SBA guide for specific licenses required for your business. Here are some standard licenses and permits you may need:
- Industry-specific licenses for certain professions and industries such as construction, plumbing, electrical, childcare, food handling, liquor, architecture, and finance
- Building and zoning permits
- Doing business as (DBA) permit if you’re doing business using a name other than your LLC name
- Health licenses and permits at federal, state, and local levels
- Fire permits
- Sign permits
This is a significant step in the LLC formation process, so make sure to check with your state and local government offices to find out all the licenses and permits that you need and their costs. If you operate without the proper licenses and permits.
If you need help, it’s a good idea to consult a business attorney to ensure you’re in full compliance. You can also use a service like MyCorporation to do the research and provide you with all the forms you need to license your business.
Doing Business As (DBA) Name
If you plan to do business under a name that is not your LLC, you’ll need to register a “doing business as,” or DBA, name. To do so, you’ll visit the Secretary of State’s website and sign into your account.
Registering a DBA, an assumed business name in Idaho is $25.
In Idaho, your LLC must file an annual report to verify your business information and confirm you’re still doing business. The report can be filed with the Secretary of State, and there is no fee.
Starting an LLC in Idaho is rather a complicated process that includes a handful of fees. There are many hoops to jump through. Still, the benefits of ensuring your LLC is properly registered, and fully compliant are huge, while the alternative risks significant penalties.
LLC formation can be daunting, so many entrepreneurs prefer a professional service like ZenBusiness. This ensures the process is done correctly, saving time and giving you peace of mind.