If you already have an LLC in another state and want an Idaho LLC, then how to start an LLC would be somewhat different. You must register as a foreign LLC. We have here a guide on how you can qualify and register for a foreign LLC in Idaho.
On this page, you’ll learn about the following:
- Forming an Idaho Foreign LLC
- Steps to Filing Idaho Foreign LLC Online
- After Forming Idaho Foreign LLC
Forming an Idaho Foreign LLC
A foreign LLC does not need to be a company from another country but a business formed under the laws of another state. To start a foreign LLC in Idaho, you need to register it with the Idaho Secretary of State.
Step 1: Choose Idaho Foreign LLC Name
Obtain a name reservation certificate and submit it with your foreign qualification requirements at the Idaho Secretary of State. Your LLC’s legal name outside of Idaho will be listed on the application, along with the name it will use in Idaho. Take note of the requirements for naming your LLC.
Step 2: Select Idaho Foreign LLC Registered Agent
You’ll need a registered agent to form a foreign LLC in Idaho and take note that an Idaho registered agent must have a local address. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries:
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Step 3: File Registration of Idaho Foreign LLC
Fill out and submit a Foreign LLC Application for a Registration form by mail to the Office of the Secretary of State, 450 N 4th Street, P.O. Box 83720, Boise, ID 83720-0080.
Include the following:
- LLC’s full legal name.
- A fictitious name or a DBA (only if your LLC’s legal name is not available); Attach a statement of adoption of the fictitious name signed by all LLC members.
- LLC’s principal office and mailing addresses.
- LLC formation state and date.
- Registered agent’s name and address in Idaho.
- Date when your LLC will start operations in Idaho.
- Credit card information on the last page of the form for the $150 application fee.
The LLC cost in Idaho, even for foreign LLCs will differ between online filing and by mail.
Step 4: Determine How Your Idaho Foreign LLC is taxed
Foreign LLCs are also subjected to the Idaho Business Privilege Tax, and they must file LLC annual reports each year.
Note that forming a foreign LLC would be good for your business as you can legally operate in a different state thus reaching a larger market and opening more opportunities for higher profit.
Steps to Filing Idaho Foreign LLC Online
Time needed: 5 minutes.
When you are registering for the foreign LLC in the State of Idaho, you will have to submit your Application for Registration of foreign LLC with the Secretary of State which costs $100. After approval, you will receive a Verification Certificate from the State Office. We have explained the aspects you need to cover when you apply for Idaho Foreign LLC.
- Go to the Official State of Idaho Website
Visit the Idaho Online Business Services on the Idaho Secretary of State website. The platform offers an easy option to file business entity documents.
- File Online
On the page, click on the “Business” tab available as the third option on the left corner of the page. The page offers online application filing options for different types of business entities. On that page, go to the option “Foreign Registration Statement” and select the option of “Foreign Registration Statement (Limited Liability Company)”. A box containing the details of the registration will appear on your screen. Next, click “File Online”.
- Create your Account
The link will navigate you to the Idaho SOSbiz login Page, where you must first register your account before proceeding with any further filing process. If you have already created an account on the page, then fill in your username and password and continue to “Log in”. In case you do not have an account, then click on the “Create an Account” option available on the left bottom side of the page.
- Create your Idaho Account
Proceed to fill in your details on the following page, such as first and last name, email address, phone number, and password.
After the creation of your Account, proceed with the registration and business filing online on your account. Enter all the important information.
Complete the payment: Finally, make the payment online. Once done, you will receive a notification regarding the completion of the filing of your Idaho LLC.
Steps to Register for your Foreign LLC via Mail
- Visit the website: Open the Idaho Secretary of State Paper Forms page. After the page opens up, click on the tab “Limited Liability Company”.
- The tab will direct you to the section containing the Foreign Limited Liability Companies forms. In this section, click on the link “Foreign Registration Statement”.
- The link will direct to the Foreign Registration Statement Form of the State of Idaho. Download the Application Form PDF on your system.
- Read the instructions carefully and fill out the application form. It is mandatory to type your details in the form and then get it printed.
- Make the payment of $120 in the name of “Idaho Secretary of State”. If you require an expedited service, an additional $40 should be added to the filing fees.
- After you complete the application form, mail your application to the following address: Office of the Secretary of State 450 N 4th Street PO Box 83720 Boise, ID 83720-0080.
After Forming Idaho Foreign LLC
Here are added things you need to accomplish after forming your Idaho Foreign LLC
- Obtain Business Licenses. Find the business licenses you’ll need using the Business License Search.
- File LLC annual reports and Business Privilege Tax.
- Pay State Taxes like sales tax; you’ll need an EIN for your LLC.
It is convenient plus easy to file for the foreign LLC if you are doing it online. The steps are very easy and that’s why it’s possible to go along with the steps and form a foreign LLC in Idaho.
How Much Does It Cost to Register a Foreign LLC in Idaho
First, you’ll need to determine if your business qualifies as a foreign entity. This is essential because a dissolved LLC can’t transact business in Idaho and will face harsh penalties if it doesn’t comply with the rules. After you’ve determined whether your business qualifies, you can then file your Foreign Registration Statement, also known as the Form 8862. You can file this online or request hard copies of your form. To file an Annual Report, you’ll need to pay $100 if you’re filing online. You’ll pay $120 if you want to file a paper version, and you’ll have to submit it only once.
Once you have determined whether your business is foreign-registered, you’ll need to file a Foreign Registration Statement with the Secretary of State in Idaho. This document must be filed with the Secretary of State. The form is a very simple form, and you can get the required information on it. A Certificate of Organization is the most important document to file for a Foreign LLC, so make sure it’s in a good standing. A certificate of existence must be issued by the secretary of state in the state in which you organized your business. Your statement must be dated within 90 days after filing the Foreign Registration Statement. In addition to filing the Foreign Registration Statement, you’ll need to pay a filing fee, which is usually $100 for a typed statement or $120 for a handwritten one.
There are some exceptions to the requirement for foreign company status in Idaho, and these include businesses that have no employees or physical presence in another state. If you don’t have any employees or clients in another state, then you’re not required to file for foreign company status in Idaho. You must file a Foreign Registration Statement with the Secretary of State in the jurisdiction where you organized your LLC. You can file your foreign registration statement online or mail your form.
If your LLC is formed under the laws of another state, it is referred to as a foreign LLC in Idaho.
Businesses incorporated outside of the state where they operate must have “foreign qualifications” issued in the other states.
A domestic LLC is a company registered in Idaho as an LLC. The entity type that has a physical presence in another state is a foreign LLC.