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Why Incorporate in Idaho
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Choose one of business types and use Division of Corporation
Home Page to get all important informations about starting a business.
Starting bussiness in Idaho
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Selecting a particular form of business organization may be a difficult
step in starting a business. Each type of organization raises different
considerations relating to, among other things operations, personal
liability, and tax status. The types of organizations are: general
partnerships, limited partnerships (LP), limited liability partnerships
(LLP), limited liability companies (LLC), and corporations.
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Online Search - Check if Corporation or LLC name is available
Information about setting up new company
For Profit Corporations
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The corporation is the original structure for providing personal liability
protection to the owners of a business. Although a corporation is now easier
to organize, it may not be the best choice of entity for starting up a
business. A corporation must have a board of directors that may be one
person. A corporation must also maintain certain books and records and
hold annual meetings of shareholders. In small, closely held corporations,
the documentation of these activities may be more onerous than is warranted.
MORE INFO
Idaho Corporation online order form
Not For Profit Corporations
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A nonprofit or not-for-profit corporation is a corporation normally
thought of as one created for religious, charitable, educational or
eleemosynary purposes.
MORE INFO
Limited Liability Company
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The Idaho Legislature in 1993 authorized the organization of Limited
Liability Companies (LLC). The LLC has some of the characteristics of a
sole proprietorship, some of a partnership, and some of a corporation.
An LLC may, for tax purposes, be disregarded, be taxed like a partnership
or taxed like a corporation.
MORE INFO
Idaho LLC online order form
Limited Partnerships
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Limited partnerships must have one or more general partners and one or more
limited partners. The organizational documents filed with the Secretary of
State's Office are not required to identify the limited partners.
Limited partners are not normally personally liable for the debts of the
limited partnership. It is certainly possible for limited partners to lose
the amounts they have invested. Beyond that, limited partners will normally
be subjected to personal liability for the debts of the limited partnership
only if they are actively engaged in the management of the entity.
MORE INFO
Limited Liability Partnerships
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The key word for LLP's is "partnership". They are more like general
partnerships than LP's because all of the partners in an LLP benefit from
some liability protection. The intent of the legislation creating this
entity is to provide protection from personal liability for a partner in
a general partnership for the acts of the partnership and other partners
in the absence of the partner's own negligence, misconduct, or wrongful act.
LLP's are taxed like partnerships.
MORE INFO
Information about registering foreign company in Idaho
Foreign For Profit Corporations
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The corporation is the original structure for providing personal liability
protection to the owners of a business. Although a corporation is now easier
to organize, it may not be the best choice of entity for starting up a
business. A corporation must have a board of directors that may be one
person. A corporation must also maintain certain books and records and
hold annual meetings of shareholders. In small, closely held corporations,
the documentation of these activities may be more onerous than is warranted.
MORE INFO
Foreign Not For Profit Corporations
-
A nonprofit or not-for-profit corporation is a corporation normally
thought of as one created for religious, charitable, educational or
eleemosynary purposes.
MORE INFO
Foreign Limited Liability Company
-
The Idaho Legislature in 1993 authorized the organization of Limited
Liability Companies (LLC). The LLC has some of the characteristics of a
sole proprietorship, some of a partnership, and some of a corporation.
An LLC may, for tax purposes, be disregarded, be taxed like a partnership
or taxed like a corporation.
MORE INFO
Foreign Limited Partnership
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Limited partnerships must have one or more general partners and one or more
limited partners. The organizational documents filed with the Secretary of
State's Office are not required to identify the limited partners.
Limited partners are not normally personally liable for the debts of the
limited partnership. It is certainly possible for limited partners to lose
the amounts they have invested. Beyond that, limited partners will normally
be subjected to personal liability for the debts of the limited partnership
only if they are actively engaged in the management of the entity.
MORE INFO
Foreign Limited Liability Partnerships
-
The key word for LLP's is "partnership". They are more like general
partnerships than LP's because all of the partners in an LLP benefit from
some liability protection. The intent of the legislation creating this
entity is to provide protection from personal liability for a partner in
a general partnership for the acts of the partnership and other partners
in the absence of the partner's own negligence, misconduct, or wrongful act.
LLP's are taxed like partnerships.
MORE INFO
Information based on Idaho's Corporations Division website.
Last update September 30, 2003.
If you have any questions,
please visit Idaho's
Corporations Division Website.
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