Idaho C Corp Formation

Idaho C Corporation Formation

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Steven S.

Steven Stark

258 reviews
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.
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Richard G.

Richard Gora

153 reviews
Looking for an attorney with experience? Richard Gora is the exact attorney you want. Having defended over 100 cases both in state and federal courts and working with clients from around the globe, Richard has an array of different experiences. His services are wide-ranging and include business litigation, securities litigations, employment litigation, and business counsel. Prior to founding Gora LLC, he worked for Finn, Dixon & Herling LLP for eight years.
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Joshua G.

Joshua Garber

185 reviews
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.
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Jennifer Hope B.

Jennifer Hope Bernstein

Jennifer Hope Bernstein is a startup attorney that focuses on providing legal assistance to entrepreneurs, startups and small business. She has over 12 years’ experience and is licensed to practice law in New York. Jennifer has a J.D. in law, which she obtained from the Benjamin N. Cardozo School of Law, Yeshiva University. Jennifer is exceptionally experienced in dealing with legal matters related to trademark and copyright law.
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Beatrice B.

Beatrice Bianchi Fasani

2 reviews
I am one of the partners of Bianchi Fasani & Fantacci Law, PA where I practice real estate, contracts, corporate and tax law. I attended Boston University, where I grad... read more
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Merlaine B.

Merlaine Bissainthe

2 reviews
With a vested interest in all her clients, Merlaine Bissainthe supports small startups in business formation, contract drafting, and negotiation. A speaker of Haitian Creole and Spanish, she is experienced in navigating clients through the legal immigration system to retain employees. Ms. Bissainthe currently works as in-house counsel, providing legal advice to all levels of management.
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Ben B.

Ben Bekel

Currently working as an Attorney in Roller Law Office, Ben Bekel is expanding his area of expertise. He has worked as an Attorney for Pastrnak Law Firm, as well as a Litigation Specialist for Scheldrup Blades. His areas of focus include commercial and residential real estate, corporate and business law, wills, estates, trusts, and banking law. Ben appeared on the Dean's list twice and graduated from Drake University Law School in 2011.
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Christine  S.

Christine Shin

2 reviews
Christine Shin is a partner in the corporate group at Russ August & Kabat and chair of the M&A practice. Christine has represented US Fortune 500 companies, int... read more
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Steven W.

Steven Weber

Steven Weber is a business-focused lawyer who has been given the Rising Star award by the Florida Super Lawyers. He also obtained the highest possible rating from Martindale Hubbell. Steven has 10 years of experience as a lawyer and is licensed to practice law in both Florida and New York. He received his J.D. in law after graduating from the Emory University School of Law. Steven founded his own law firm, Weber Law, in September 2016.
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Carolyn M. S.

Carolyn M. Suhocki

I obtained my undergraduate degree in accounting and legal studies at Duquesne University in Pittsburgh, Pennsylvania, and then completed my Juris Doctor at the Charleston ... read more
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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

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