Our next state is famous for producing 33% of the potatoes grown in the U.S., and 85% of commercial trout. This state is also home to the famous Salmon River- the longest free-flowing river to flow within a single state. Who is our mystery state bachelor? None other than Idaho!
Idaho is located in the northwestern region of the United States. It comes in as the 14th largest, 39th most populous, and the 7th least densely populated of the states. Its capital is Boise.
As far as starting a business in the potato state goes, Forbes ranks it at number 19 for the best states for business due to its average rankings of business costs, labor supply, regulatory environment, economic climate, growth prospects, and quality of life.
Idaho is famous for its top three industries: manufacturing, agriculture, and tourism. If you plan on starting a business in one of these industries, this could be the ideal state for you to incorporate or form an LLC in! If you do decide to go the Idaho route, here are some filing tidbits to keep in mind:
- The Idaho Secretary of State handles most matters related to forming a Limited Liability Company. Those business owners who do want to form an LLC are required to file a Certificate of Organization with the Secretary of State’s office. Businesses in Idaho that decide to file as an LLC also legally have to include the words ‘Limited Liability Company,’ ‘LLC,’ ‘L.L.C.,’ ‘LC,’ or ‘L.C.’ in their name.
- Idaho LLCs are required to appoint a registered agent. The resident agent can either be a full-time resident of the state, or a legal business entity that is simply registered in Idaho. The business also has the option of being its own registered agent if its physical address is in Idaho. Though, lots of entrepreneurs opt to hire a registered agent service for reasons such as convenience and privacy protection.
- For those businesses that file as an LLC in Idaho but hold a physical address in a different state, you need to mail in an Application of Certificate of Authority for Foreign Limited Liability Company to the Secretary of State’s office and pay a filing fee.
- Remember that those doing retail in Idaho must get a seller’s permit and collect sales tax on the sale of goods they ship or deliver to their customers in Idaho. Plus, those retailers must file regular Idaho sales tax returns to pay the tax they collect.
Does the land of the spuds sound a-peeling to you and your business? Want to take the next step? Give us a call at 1(877) 692-6772 or leave a comment below!