How to incorporate in Idaho
Incorporating a company in Idaho is similar to incorporating a company in other states. The basic steps that you have to take are the same, but what is different is the type of information that has to be included. For example, some states require that you include the director’s information, while other states do not require you to provide the information when filing the articles of incorporation.
If you decide to incorporate a company in Idaho, the first thing that you want to do is decide who is going to incorporate your business. When it comes to incorporating your company, you have three choices to choose from. The first choice that you have is hiring a lawyer to incorporate your business. Lawyers are going to charge hourly fees, plus any filing fees that are incurred. Your next choice is hiring an online incorporation service to form your corporation; they will charge you a flat rate plus any applicable filing fees. The last choice that you have is forming the corporation yourself, which if you have an operating agreement in place, you can use that to form your articles of incorporation and bylaws. Choosing to do it yourself will save you a ton of money because you will only have to pay the filing fees that are incurred from forming your corporation.
To begin forming your corporation you will need to select a name for your corporation. When naming your corporation you will need to have a term included n the name that identifies the business as a corporation. You will also have to avoid using certain terms or phrases that are restricted by the state. The name must be unique, meaning it cannot be the same as or similar to any other business that is registered in the state.
Once you have, the name picked out you will need to fill out the articles of incorporation. The articles of incorporation must include basic information about your business, including the present address for your business. You can also include the director’s information, but it is not required. When choosing your director in the state of Idaho the good news is that there are no age or residence requirements, which means you can live in another state and incorporate your business in Idaho. You will need to include information for a registered agent for your corporation that lives in the state so that they can receive any legal documents that pertain to your business, such as lawsuits.
Once you have filled out the articles of incorporation you will need to file them with the Secretary of State. When filing the articles of incorporation you will need to pay the filing fee. The good news about the initial filing fees is that if you decide to increase the shares of stock that you are authorized to issue or increase the par value of the stock it will not affect your filing fees.
Once you have filed your articles of incorporation you will want to have a board meeting so that you can adopt the corporation’s bylaws. At the board meeting, you should also decide if you would be making a custom corporate seal. Custom corporate seals are often needed for doing business in other countries, but they can also be useful for daily business. For example, when issuing a stock certificate stamping it with a corporate seal makes it authentic.
