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When it comes to incorporating a business, Delaware is a popular choice. Clients from all over the world reach out to Harvard Business Services to form a Delaware LLC or Corporation. This is due to Delaware's strong corporate law structure. For providing the people behind the company with protection for their personal assets, Delaware is the established leader. This is the case, whether you choose an LLC or a Corporation.
When forming a Delaware Company, your business is domestic to Delaware and foreign to every other state. The process by which another state gives a Delaware LLC or Corporation the authority to operate there is called foreign qualification. This blog will focus on Delaware Companies that operate in Idaho.
To foreign qualify your Delaware Company to do business in Idaho, there is an application process, a state fee, and they also require a Certificate of Good Standing from Delaware. The Certificate of Good Standing verifies that all of the Franchise Taxes have been paid in Delaware and that the company has a current Delaware Registered Agent. Idaho requires a Certificate of Good Standing even of brand new companies. Idaho also requires a Registered Agent in Idaho for the purpose of receiving any service of process, legal documents, or annual notices from the State. Harvard Business Services can assist with the Idaho Foreign Qualification, as well as act as your Registered Agent in Idaho. The Idaho Registered Agent service is $99/year.
Please keep in mind that once registered as a foreign entity in Idaho, you will still be required to maintain good standing in Delaware by paying the Franchise Tax and maintaining a Delaware Registered Agent. Idaho requires an annual report to be filed, however there is no payment that goes along with this report. Your Idaho Registered Agent will keep you posted as this requirement becomes due .
If you have additional questions about registering your Delaware LLC or Corporation in Idaho or are ready to get started, please call Harvard Business Services @ 1-800-345-2677 x6900 or email firstname.lastname@example.org We are happy to assist.
THE AUTHOR OF THIS BLOG ARTICLE IS NOT A LAWYER AND HARVARD BUSINESS SERVICES, INC. IS NOT A LAW FIRM. THE ARTICLE ABOVE IS NOT INTENDED AS LEGAL ADVICE AND SHOULD NOT BE TAKEN AS LEGAL ADVICE. THIS SHORT ARTICLE IS STRICTLY TO MENTION SOME ASPECTS OF DELAWARE'S CORPORATION LAWS AND/OR LAWS RELATING TO OTHER FORMS OF ENTITIES WHICH YOU MAY NOT BE FAMILIAR WITH. WE RECOMMEND THAT YOU CONSULT WITH A LAWYER BEFORE FORMULATING A STRATEGY WHICH WILL BE SUITABLE FOR YOUR SPECIFIC CASE.