When starting a new business, one of the first steps you need to take is to file Articles of Incorporation with the state. This document creates a corporation and makes it a legal entity with the state, giving it certain protections and benefits. Filing Articles of Incorporation in Idaho is a simple process that can be done online or by mail. In this article, we will walk you through the steps of filing Idaho Articles of Incorporation.
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What are Idaho Articles of Incorporation?
Idaho Articles of Incorporation are a set of legal documents that establish a corporation as a legal entity in the state of Idaho. This document is filed with the Idaho Secretary of State and includes important information about the corporation, such as its name, business purpose, and registered agent.
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By filing the Articles of Incorporation, the business becomes a separate legal entity from its owners, limiting their personal liability for any business-related activities. Additionally, an incorporated business has the ability to issue shares of stock, which can make it easier to raise capital and transfer ownership.
Steps to File Idaho Articles of Incorporation
1. Choose a Name for Your Corporation
The first step to filing Articles of Incorporation is to choose a name for your corporation. The name must be unique and not too similar to other businesses already registered in Idaho. You can use the Idaho Secretary of State's business search tool to check if your chosen name is available.
2. Introduce the Initial Registered Agent and Address
A Registered Agent is a person or entity responsible for accepting official documents on the corporation's behalf. This agent must have an Idaho street address (not a PO Box) where they can receive these documents. The agent can be an officer or director of the corporation or an outside party hired specifically for this role.
3. File Your Articles of Incorporation
Next, you need to file your Articles of Incorporation with the Idaho Secretary of State. You can file online or by mail. The filing fee is $100 for online filings and $120 for mail filings.
If filing by mail, send the completed Articles of Incorporation form and a check or money order payable to the Idaho Secretary of State to:
Office of the Secretary of State
450 N. 4th Street
P.O. Box 83720
Boise, ID 83720-0080
4. Assign your Incorporator
When filing your Articles of Incorporation, you also need to assign an Incorporator. This is the person responsible for signing and delivering your Articles to the Secretary of State, verifying that the business is officially incorporated.
5. Obtain an EIN
After filing your Articles of Incorporation, you will also need to obtain an Employer Identification Number (EIN) from the IRS. This is a unique number assigned to your business for tax purposes and can be obtained online or by phone through the IRS.
Conclusion
Filing Idaho Articles of Incorporation is a straightforward process that can be done online or by mail. Following these steps, you can easily establish your corporation as a legal entity in the state of Idaho, protect your personal assets, and gain access to benefits like issuing stock. Remember to choose a unique name and a Registered Agent, prepare and file your Articles, assign an Incorporator, and obtain an EIN. With these steps under your belt, you are one step closer to forming a legal and successful business in Idaho.
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