How to Form a C Corporation in Idaho

Introduction

The process of forming a C corporation in Idaho is fairly straightforward. The first step is to choose a business name that meets the requirements set forth by the Idaho Secretary of State (SOS) office. A registered agent must be named in your articles of incorporation, and then you can file those documents with the SOS. If you want to add shareholders, you’ll need to hold an organizational meeting, create corporate bylaws and issue stock certificates for each new owner. Finally, obtain any required business licenses or permits before opening up a bank account for your company’s use—and you’re ready to go!

1. Choose a business name.

To start the process of forming a c corporation, choose a business name. The first step is to make sure that your desired business name isn’t too similar to another registered business or trademark. To avoid any confusion, it’s best to pick something unique and memorable.

2. Select a registered agent.

The most important requirement for a registered agent is that he or she must be located in Idaho. As such, you cannot hire an out-of-state company to act as your registered agent. The law also requires the person or business to have a physical address in Idaho and be available during regular business hours.

3. File your articles of incorporation.

Once you decide on a name and have it checked for availability, you can then file your articles of incorporation online. If you choose to do so, they must be filed with the secretary of state within 90 days after incorporation is approved. You can also request that a copy be mailed to your home address or pay an additional $5 for them to send one via certified mail.

A corporation may also incorporate by submitting its articles of incorporation in person at any county clerk’s office within Idaho, or by mailing them along with appropriate fees to: Secretary of State Corporations Division PO Box 83720 Boise ID 83720-0093

4. Create corporate bylaws.

When you incorporate, you must create corporate bylaws. These are the rules and regulations that govern your corporation’s behavior. Your bylaws set out how management functions, what roles each individual has in the company and how decisions will be made. You should also include a description of your company’s purpose, as well as its capitalization structure (that is, what type of stock it will issue).

Bylaws are filed with the Idaho Secretary of State after they have been adopted by shareholders at an annual meeting or special meeting called for this purpose; however, there is no specific format required for these documents. You can create them yourself or hire someone to help draft them. Bylaws must be kept available at all times for inspection by shareholders or any other interested parties (for example: customers).

5. Hold an organizational meeting, appoint officers and issue stock certificates.

The purpose of an organizational meeting is to elect officers, who will run the corporation on a day-to-day basis. If you’re a one-person corporation, this may be as simple as appointing yourself president and treasurer. However, if there are multiple owners involved in your business (such as two partners), then you’ll need to appoint someone as president and someone else as vice president.

It’s also important that you issue stock certificates at this point in the formation process because they can help ensure that all shareholders have clearly defined ownership rights in their company. There are many ways to do so: some businesses simply print out certificates on paper; others use electronic stock registers; while some companies choose to invest in more expensive equipment like printers or scanners that can automatically create digital copies of these documents for each shareholder.

6. Obtain any required business licenses and permits.

• Business License
• Retail Food Permit or Temporary Food Establishment Permit (if applicable)
• False Advertising Complaint with the Attorney General’s Office, or any other state or local government agency or association that regulates advertising practices in your area. If you are unsure of how to file a complaint, there are resources available online for most states and localities.

7. Open a bank account for the company to use for ongoing financial transactions

A bank account is a financial holding area that allows you to receive funds and make payments. It’s like your company’s personal piggy bank.

To open a bank account, you will need the following:

• A social security number or employer identification number (EIN) for your business. If you don’t already have one of these numbers, contact the Idaho Department of Commerce and see if they can help you get one. You can also try applying for one through the IRS website at http://www.irs.gov/Businesses/Small-Businesses–Self-Employed/Apply-for-an-Employer-Identification-Number-(EIN)-Online or by calling 1-800-829-4933 (1) at any time during regular business hours Monday through Friday 8:00 AM – 4:00 PM EST/EDT (excluding holidays).
• A checking account in your name, not in the name of the corporation

You’ll also need an address where all correspondence should be sent, including checks deposited into this account; a Social Security number or Employer Identification Number (EIN) issued by either the Internal Revenue Service (IRS), state tax authority or other government agency identifying that entity as an employer;

Takeaway:

The takeaway from this article is that forming a C corporation in Idaho requires more effort than setting up a sole proprietorship or LLC. But the benefits of having a C corporation are worth the extra work, such as allowing you to earn more money by deducting corporate losses.

To form your own C corporation, you must first check with your state’s Secretary of State to see if they allow it. Then, you need to draft Articles of Incorporation and file them with their office while paying fees for filing and registering your company name with the county clerk’s office. Lastly, you’ll have to register as an employer with DEERS (Defense Enrollment Eligibility Reporting System) and file an EIN (Employer Identification Number) Application Form with the IRS

Conclusion

Congratulations! You’ve formed a C corporation in Idaho. We hope this article has given you the information you need to make that decision. The first step is choosing a business name, which should be unique and memorable but also not too long or complicated so that people can easily say it when referring to your company. Next, you will want to select an authorized registered agent who can receive legal documents on behalf of your organization (and pay them for their services). Finally, once all necessary paperwork is completed then all that remains before starting up operations is issuing stock certificates which allows employees access ownership in their workplace by purchasing shares from investors through loans from banks or other sources.