Idaho C Corp Formation

Idaho C Corporation Formation

Steven Stark C Corporation Lawyer for ID

For over 30 years, Steven Stark has offered counsel to non-profit organizations and private companies. He has a passion for helping small businesses in particular since he himself started several businesses of his own in New York and Florida. He understands the importance of small businesses having a reliable attorney to advise them about legal matters from their inception.
196 reviews

Joshua Garber C Corporation Lawyer for ID

Representing notable clients like Tesla and the City of Los Angeles, Josh Garber excels at helping clients with employment and labor laws. Many of his past clients have had great success using Josh for employment agreements and Division of Labor Standards Enforcement (DLSE) hearings. With his practical advice, he has even helped clients avoid going to court.
152 reviews

Cameron Tousi C Corporation Lawyer for ID

Cameron Tousi is an attorney at law with almost two decades worth of experience. He is licensed to practice law in Virginia, Maryland and the District of Columbia. Cameron is also a member of the Maryland Patent Bar. He received his Juris Doctorate degree from the George Washington University Law School. Cameron primarily specializes in patents. He has been the managing partner of the IP Law Leaders PLLC since January 2012.
2 reviews

Michael Osty C Corporation Lawyer for ID

Michael Osty is both a corporate attorney and a legal adviser. He is licensed to practice law in Illinois and has been serving corporate clients for more than two decades. Michael received his law degree from the John Marshall Law School. He primarily specializes in dealing with legal cases that involve commercial contracts. Michael has been serving as the director and legal advisor of Beijing Yunhan Longxing Science & Tech Company since October 2011.
2 reviews

Nicholas Grimaldi C Corporation Lawyer for ID

Nicholas Grimaldi became a member of Fierst, Kane & Bloomberg, LLP in 2014. He represents individuals and businesses in real estate, corporate transactions, commercial law, and bankruptcy matters. In the past, he has represented a manufacturer in multi-million dollar acquisitions, practiced extensively in bankruptcy, and worked in both state and federal appellate courts.

Christian Woods C Corporation Lawyer for ID

Christian Woods is a California-based business lawyer. He specializes in numerous legal practice areas, including labor and employment law, legal research and writing, commercial contracts, business formation and general corporate lawsuits. Christian has a J.D. in law, which he obtained from the University of La Verne College of Law. In May 2017, Christian founded his own legal office, where he now serves as the founding partner and principal attorney.

Ripal Patel C Corporation Lawyer for ID

Ripal provides legal counsel to clients in startup formation, contracts, negotiations, compliance law, trademarks, and copyrights. He has successfully worked with many startups in addition to beginning his own startup in 2007. Ripal chooses to only practice in the areas of law that he is passionate about and providing the best possible service for his clients.

Ronald Scott (Ron) Kaniuk C Corporation Lawyer for ID

Ronald Scott is an up-and-coming lawyer working for Kaniuk Law Office, P.A. He is currently the founder and Principal Attorney of this law firm, handling matters regarding business and corporate law, civil litigation, bankruptcy, real estate, wills and probate, and other vital legal issues for both individuals and businesses. Ronald attended Saint John's University School of Law in 1993 and graduated with a J.D. in 1996. A few years later, he received his Master of Law Degree in Bankruptcy.
2 reviews

Austin Jones C Corporation Lawyer for ID

Austin Jones is a partner attorney at the Law Office of Gideon and Jones, PCCL. He focuses on assisting companies and professional entrepreneurs in forming new companies, as well as in managing corporate legal issues. Austin has worked for the Court of Appeals in Texas and was a legal assistant at Hance Scarborough between 2009 and 2010. In 2014, Austin obtained his J.D. in law from the Texas Tech University. He is also registered with the Texas Young Lawyers Associations.

Why use UpCounsel to form your C Corporation in Idaho?

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Why use UpCounsel to form an C Corporation in Idaho

Starting an C Corporation in Idaho with a business startup attorney on UpCounsel is easy, informative, and cost-effective. In just three simple steps, our C Corporation attorneys will help you protect your business and personal assets, and help you organize your business for state and federal compliance for an C Corporation.

When forming an C Corporation in Idaho with UpCounsel, the attorney you choose to help you will conduct a business name search for your Idaho C Corporation and assist you in preparing your C Corporation Operating Agreement, along with providing other legal services based on your needs. Once your Articles of Incorporation have been prepared and successfully filed with the Idaho Secretary of State, your Idaho C Corporation has been formed and begins its existence as a corporate entity.

Choosing a Company Name for Your C Corporation

One of the first steps in the process of forming your C Corporation is to choose your business name.

The business name that you choose must contain the words "Incorporated" or "Inc."

It must be distinguishable (not the same as or deceptively similar to) the name of an S Corp or foreign C Corporation reserved or registered.

Your C Corporation name may contain the name of one or more members.

By using UpCounsel, you can choose several business names in order of preference. Your attorney of choice can then conduct a name check for your Idaho S Corp before filing to see which names are available. Once you have chosen an available name, your chosen C Corporation attorney can help you properly register your name with the State of Idaho.

Requirements for Forming a Idaho C Corporation

Articles of Incorporation: When forming an C Corporation in Idaho, the Articles of Incorporation must be filed following NRS Chapter 86 with the Idaho Department of State Division of Corporations. Idaho state law requires that certain information be included in your Articles of Incorporation when forming your Idaho C Corporation.

This information mustinclude:

  1. The C-Corp's name and address.
  2. The C-Corp's purpose.
  3. The C Corporation must appoint a statutory agent designated to for its' service of process. The Original Appointment of Statutory Agent (incorporated into the Articles form) must provide the agent's name and address as well as the agent's signature accepting the appointment.
  4. The number of shares the C Corporation is allowed to issue.
  5. The incorporator's name, address, and signature.

Additionally, a Idaho C Corporation formation generally requires inclusion and/or consideration of the following:

C Corporation Operating Agreement: Although the C Corporation Operating Agreement is not required with the Articles of Incorporation, it is a good idea for every C Corporation with more than one member to have one. The Articles of Incorporation may contain restrictions or prohibitions on the power of the members to adopt, amend, or repeal an operating agreement. Idaho recognizes operating agreements as governing documents.

Membership: A C Corporation must have one or more members.

Eligibility Requirements: A natural person or an entity.

Procedure for Membership: The member may acquire an interest in the C Corporation directly from the C Corporation at the time of formation and, after formation, at the time provided in and upon compliance with the Articles of Incorporation or the operating agreement or, if not provided, only upon the vote of a majority in interest of the C Corporation members, excluding the vote of the person acquiring the membership interest, and only when the person becomes a party to the C-Corp's operating agreement.

Resident Agent needed for a Idaho C Corporation

Remember every Idaho C Corporation must have a registered agent in Idaho, which is the person or office designated to receive official state correspondence and notice if the company is "served" with a lawsuit. The statutory agent may be a Idaho resident or business entity authorized to do business in the state. However, the registered agent must have a physical Idaho street address.

Idaho Secretary of State

Once you create an C Corporation in Idaho, the Idaho Secretary of State will require that certain recurring responsibilities and duties be fulfilled. The most important of these are explained below.

For further information, contact the Idaho Secretary of State.

Recurring Responsibilities and Duties for Idaho C Corporations

Annual Report: Each C Corporation shall provide an annual report to the Idaho Secretary of State regarding its financial condition to each of its officers, directors, and registered agent. The first annual report is due by the last day of the first month after C-Corp's Article of Incorporation was filed. The initial filing fee is $125.

Records: Each Idaho C Corporation must keep the following records open to inspection at its office:

  1. The Articles of Incorporation and any amendments
  2. The C-Corp's Bylaws
  3. A stock ledger or a statement of where it is kept.
  4. A signed "Incorporator's Statement" showing the names and addresses of the initial directors who will serve on the board until the first annual meeting of shareholders.

Business Licenses: Business licenses and/or permits are required for most businesses. Contact the Idaho Secretary of State for specific licenses.

Annual List of Officers: All corporations doing business in Idaho must file a List of Officers, Directors, and Registered Agent and State Business License Application every year with the Idaho Secretary of State. Forms will be mailed to the corporation's registered agent each year. The filing fee is $125.

Filing Fees for a Idaho C Corporation

The processing fee for the Articles of Incorporation is $100 but can expediate for more. Also, the filing and reservation of the C-Corp's name is $20. These fees can change so it would be best to check with the Idaho Secretary of State on what the latest fees are. You may pay these fees in many different forms including cash, check, money orders, or debit and credit cards

Taxes for a Idaho C Corporation

Idaho C Corporation shareholders do not report any of the business income and expense on their individual tax return. The corporation files tax returns and pays its income taxes (at generally lower tax rates than would individuals) while the individual shareholders report and pay personal income taxes only on monies paid them by the corporation.

It should be noted that shareholders are required to pay personal income taxes on income from dividends paid by a C Corporation even though income taxes have previously been paid by the corporation. This leads to what is commonly referred to as "double taxation".

Idaho state law follows federal law for income tax purposes. Therefore if a corporation is classified as an association taxable as a C Corporation for federal income tax purposes, so will it be taxable as a corporation for state tax purposes.

Federal Income Tax: For federal income tax purposes, a C Corporation is recognized as a separate taxpaying entity. A corporation conducts business, realizes net income or loss, pays taxes and distributes profits to shareholders.

Idaho State Income Tax: Idaho imposes a corporate income tax. Idaho taxes corporate income at a flat rate of 7.4%.

Federal Tax Identification Number: Your corporation will need to obtain a federal tax identification number, which is also known as an Employment Identification Number (EIN). You do not need to get a new EIN after the corporation choose to become a C Corporation An EIN is similar to an individual's social security number. You will need an EIN for your C Corporation as long as there is one member, even if the C Corporation does not have employees. For certain tax filing requirements the attorney you choose on UpCounsel can help prepare your Federal Tax ID Application, if you have not done so already.

Start Your Business Off Right with an Affordable C Corporation Attorney in Idaho

Start Your Company Off Right with Affordable C Corporation Attorneys in Idaho

Connect with Top Idaho C Corporation Formation Attorneys & Lawyers

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