Start an LLC in Idaho

Before you can file your formation documents, you need to choose a unique name for your LLC. Idaho Statute § 30-21-301 contains the rules for naming an LLC. Basically, your LLC name must:

• Include either the words “limited liability company,” or an abbreviation like “L.L.C.” or “LLC.”
• Be unique among registered businesses in Idaho.
• Not use any words or abbreviations that suggest it’s a different entity type or government agency (for example: “Inc.” or “State Department.”)

Already have a business name? Check to see if it’s available.

The next step is to choose an Idaho registered agent. A registered agent is a person or entity that is authorized to accept lawsuits and other important legal mail on behalf of a business. Your registered agent could be you, another Idaho resident, or a registered agent company. All Idaho LLCs are required to have a registered agent. You’ll list your registered agent’s name and address on your Certificate of Organization.

Learn why the pros use a registered agent service.

Once you’ve settled on the perfect name and appointed your registered agent, you’re ready to file the Certificate of Organization with the Idaho Secretary of State. You can file this document online, by mail, or in person. Keep in mind that Idaho charges a $20 manual processing fee for any forms that are not filed electronically.

Note: All of the information on the Certificate of Organization will be on the public record.

Here’s the information you’ll need to include about your LLC:

• Business Name: Must include an LLC designator.
• Principle Office: Has to be a physical street address.
• Registered Agent: Whoever will accept legal mail in person on behalf of your LLC.
• Registered Office: Must be a physical address in Idaho.
• LLC Governor: A fancy term for someone in your LLC who has decision-making power—either a member or a manager.
• Mailing Address: Can be a P.O. Box.
• Organizer: The person who signs and submits the Certificate of Organization.
• Contact phone number and email address: How the Secretary of State’s office will reach you if there’s a problem with your filing. This doesn’t have to be the contact information of anyone in your LLC.

An operating agreement lays out the rules that everyone in your LLC will follow. It covers how much each member invested, how you will distribute profits and losses, how voting will work, and even what you will do if your business falls apart.

Check out our attorney-drafted Idaho LLC Operating Agreement.

An EIN (employer identification number) is basically your company’s social security number. You’ll put your EIN on tax filings so that the IRS can identify your business. You can apply for an EIN from the IRS for free, either online or by mail. The fastest way to get an EIN is to apply on the IRS website. However, if you do not have a social security number, you’ll need to mail in a paper form.

Learn How to get an EIN for your LLC.

Starting January 1, 2024, most Idaho LLCs will need to file a Beneficial Ownership Information (BOI) Report with the Financial Crimes Enforcement Network (FinCEN). LLCs formed in 2024 have 90 days after registering with the state to file this report. LLCs formed before 2024 have until January 1st, 2025 to file. Starting in 2025, new LLCs will need to file the BOI Report within 30 days of formation. On the BOI Report, you’ll need to provide identifying information about your company applicant and all beneficial owners, as well as some information about the LLC itself.

A Beneficial Owner is anyone with at least 25% membership interest in your LLC, or with substantial control over its finances or operations.

Your Company Applicant is the person who filed your Idaho LLC Certificate of Organization with the Idaho Secretary of State, aka your LLC organizer.

It’s important to set up a business bank account once you’ve formed your LLC. Why? LLCs have limited liability protection, which means the state considers them to be separate legal entities (with separate liability) from the people who own them. But the only way to maintain that limited liability is by keeping personal and business finances separate.

To open a business bank account in Idaho, here’s what you need to take to the bank:

• Idaho LLC Certificate of Organization (a copy is fine)
• the LLC’s operating agreement
• the LLC’s EIN
• an LLC Resolution to Open a Bank Account (unless it is a single-member LLC).

If your LLC has more than one member, use our free LLC Resolution to Open a Bank Account.

Once you’ve formed your LLC and opened a bank account, it’s time to fund it! Each LLC member should make an initial investment to stake their membership claim. In most cases, members make their investment by writing a check to the LLC bank account, but members can also invest by contributing property or services to the LLC. Keep in mind that contributions in the form of property or services often result in tax events.

Idaho LLCs are required to file a state report every year. This annual report basically ensures that your business information is up to date and the state knows who to contact if they need to get in touch with you. Idaho’s annual report is free to file.

Don’t want to worry about your Idaho annual report? We can file it for you.

*This is informational commentary, not advice. This information is intended strictly for informational purposes and does not constitute legal advice or a substitute for legal counsel. This information is not intended to create, nor does your receipt, viewing, or use of it constitute, an attorney-client relationship. More information is available in our Terms of Service.