Idaho Taxes

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Idaho LLC Taxes

Quick Start Guide
This Quick Start Guide is a brief overview of how to form an LLC in Idaho.

Detailed Lessons:

5. EIN Number
6. Annual Report
7. Licenses and Permits
8. Taxes ← you are here

 

Idaho LLC Costs:
Idaho LLC formation: $100
Idaho LLC annual report: $0

Need help?
Hire a reliable service to form your Idaho LLC:
Northwest ($39 + state fee) or LegalZoom ($149 + state fee)

(check out Northwest vs LegalZoom)

Note: Our tax lesson is not as step-by-step as our LLC formation lessons, due to the uniqueness and variation among businesses. Taxes are usually not as straightforward as forming an LLC, and therefore, the information below is an overview, and not a comprehensive guide.

You will likely need to hire a local tax professional to make sure you meet all your Idaho tax obligations. We recommend using Thumbtack.

Idaho State Taxes

Depending on your industry, where your business is located, how you are taxed by the IRS, and whether or not you have employees, will determine which additional taxes and forms are due.

Some examples of other taxes and forms due are:

  • Sales and use tax
  • Individual income tax
  • Income withholding tax
  • Miscellaneous tax (timber, cigarettes, farming, real property, etc.)
  • Individual estimated tax
  • Partnership and LLC tax
  • Motor fuel tax
  • Motor carrier fuel tax
  • Local taxes
  • And more

You can find more information and register with the Idaho State Tax Commission here: https://tax.idaho.gov/i-1132.cfm

The state also offers online filings for taxes:
https://tax.idaho.gov/m-onlineservices.cfm

If you have more questions, you can contact the Idaho Department of Taxation:

208-334-7660 (Boise area)
800-972-7660 (toll-free)
800-377-3529 (Idaho Relay Service for hearing-impaired)

They can also be reached through their contact page.

Our Recommendation

Calculating your tax obligations in Idaho can be complicated and if done improperly can negatively impact your LLC.

We recommend that you get help from a tax professional once your LLC is formed. You can use Thumbtack or Yelp.

Hiring a tax professional will not only help you keep your Idaho LLC in compliance, but it will also give you an advisor to go to for other business questions.

You’ll want someone who’s a good fit for your company, makes you feel comfortable, and is willing to answer all of your questions. It should be someone you like personally as well as professionally. We recommend talking with at least 2-3 people before making your final decision.

Matt Horwitz
Founder & Educator, LLC University®
Forming an LLC shouldn't be so complicated. Our step-by-step guide will make the process a breeze – and no complex legal jargon! LLC University® teaches people how to form an LLC for free in all 50 states. We hope you find our free guides and resources helpful in your business journey.
Disclaimer: Nothing on this page shall be interpreted as legal or tax advice. Rules and regulations vary by location. They also change over time and are specific to your situation. Furthermore, this comment section is provided so people can share their thoughts and experience. Please consult a licensed professional if you have legal or tax questions.

2 Comments

  1. Eric Bell January 8, 2020

    I really appreciate your site and all the information. I feel much more comfortable filing my forms now that I have read through your material.

    Thanks

    reply
    • Matt Horwitz January 9, 2020

      Hi Eric, that is so great to hear! You’re very welcome :)

      reply

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