How to Dissolve a Idaho Corporation
How do you dissolve an Idaho Corporation?
To dissolve your corporation in Idaho, you can sign in to your SOSBiz account and choose “terminate business.” Or, you can provide the completed Articles of Dissolution form in duplicate to the Secretary of State by mail or in person, along with the filing fee.
A dissolved corporation may not carry on any business except as appropriate to wind up and liquidate its business and affairs.
Idaho Corporation Dissolution FAQ
Is there a filing fee to dissolve or cancel an Idaho Corporation?
To dissolve your Idaho Corporation the following filing fee is required: $30.
Do you need a Department of Revenue clearance before the Idaho Secretary of State will accept your dissolution?
How long does it take the state to process the filing?
In Idaho, it takes approximately one week to dissolve a corporation or LLC.
You will receive a confirmation copy of the change by mail. You will also be able to print a copy directly from their website.
How long before someone can take your business name?
The day after the Idaho Secretary of State processes your Articles of Dissolution, the business name can be requested by another entity.
A corporation may revoke its dissolution within one hundred twenty (120) days of its effective date. However, you will want to call the Idaho Secretary of State to make sure the business name has not already been taken by another entity. If the corporation has been dissolved for any reason and the name is unavailable, the Articles of Amendment form must be filed as a change of corporate name. Idaho registered agent.
What is the penalty if you do not dissolve properly and just don’t file your annual reports?
Idaho has no penalty as long as you file your annual report within 60 days of your due date, after which you will simply be administratively dissolved. Domestic businesses may reinstate within ten years of the dissolution for a $30 filing fee. You will need to call the Idaho Secretary of State to obtain the reinstatement form as it is not offered on the Website. (208) 334-2301.