Each state has different requirements for forming a corporation. Whether you are starting a business or incorporating a business already in existence, you’ll want to understand state requirements for Idaho incorporation.
The name must contain the word "Corporation," "Company," "Incorporated," "Limited" or an abbreviation thereof, provided that if "Company" or "Co." is used, it may not be immediately preceded by the word "and" or the symbol "&." It may not contain any word or phrase indicating or implying the corporation is organized for any purpose other than one or more of the purposes contained in its Articles of Incorporation. It may not be the same as or deceptively similar to that of a domestic corporation or a qualified foreign corporation or a reserved name, with qualified exceptions. The words "Engineer" and "Survey" require approval by the engineering board.
The following are Idaho’s requirements for directors of corporations:
The document required to form a corporation in Idaho is called the Articles of Incorporation. The information required in the formation document varies by state. Idaho's requirements include:
Idaho allows professionals, such as accountants, attorneys and physicians to form a professional corporation (PC).
After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for Idaho corporations.
Idaho corporations must keep the following items with their corporate records at the principal place of business:
The following are taxation requirements and ongoing fees for Idaho corporations:
Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.
Idaho recognizes the federal S corporation election and does not require a state-level S corporation election.
The state in which you form your company can provide certain benefits.
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