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Idaho
Corporate Name Endings
- 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 "&."
The name 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. The name 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.
Corporation Requirements
- Director Information
- Minimum Number - One or more.
- Residence Requirements - No provision.
- Age Requirements - None.
- Directors are not required to be listed in the articles of incorporation.
- Officer Information
- Officers are not required to be listed in the articles of incorporation.
- Stock Information
- An increase in shares or par value does not affect initial filing fees.
- Corporate Records
- A corporation must keep minutes, a record of shareholders and records of account,
at its registered office.
Taxes and Fees
- Annual Statements
- Domestic and qualified foreign corporations must file an annual report. The reports
should be filed with the Secretary of State between July 1st and
November 30th of the year. The first annual report of a corporation
must be filed between July 1st and November 30th of the state fiscal
year (July 1st - June 30th), which next succeeds the state fiscal
year in which its articles of incorporation or its application for
certificate of authority was filed. There is no filing fee if the
report is filed by the due date.
- Income Tax Rate
- The income tax rate is 7.6% of taxable Idaho income. A minimum tax of $20 is
imposed on all corporations.
- S Corporation
- S Corporation status is recognized by the State of Idaho. A separate
state election from the federal election is not required.
- License Requirements
- Idaho requires most businesses to obtain a license and pay a fee if operating in
the state. Please check with the state to make sure your business
is complying with the license requirements for your particular profession.
For more information on taxes, visit
www2.state.id.us/tax/home.htm.
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