{"id":3505,"date":"2016-05-05T14:00:15","date_gmt":"2016-05-05T21:00:15","guid":{"rendered":"http:\/\/evergreensmallbusiness.com\/?page_id=3505"},"modified":"2019-07-01T15:03:48","modified_gmt":"2019-07-01T22:03:48","slug":"setting-up-an-idaho-s-corporation","status":"publish","type":"page","link":"https:\/\/evergreensmallbusiness.com\/s-corporation-kits-for-all-fifty-states\/setting-up-an-idaho-s-corporation\/","title":{"rendered":"Setting up an Idaho S Corporation"},"content":{"rendered":"

\"idaho\"<\/a><\/p>\n

You probably don\u2019t need to worry too much about legal liability protection in the smallest of small businesses. Further, tax benefits of incorporation really don\u2019t start to add up until a firm is making profits of probably high five figures or more. (So let\u2019s say $80,000 in profits and above.)<\/p>\n

However, at the point a firm is making respectable profits, incorporation should probably be considered. Both as a way to minimize the owners\u2019 risks and as a way to try to avoid some of the self-employment taxes that are otherwise levied on all of the profits.<\/p>\n

Note:<\/strong> Self-employment taxes include the 15.3% combined Social Security and Medicare tax levied on roughly the first $120,000 of a business owner\u2019s income as well as the 3-4% Medicare tax levied on the business owner\u2019s income above that $120,000 threshold.<\/p>\n

For this reason, we publish two do-it-yourself S corporation kits for Idaho small business owners. \u00a0Both kits (their cost equals $37.95) provide detailed steps for setting up an S corporation and include the governing document the small business owner will need for their new LLC or corporation.<\/p>\n

Our Idaho\u00a0S Corporation kit<\/h2>\n

If you are reading this thinking “Great! Which one should I use?” You should probably opt for the limited liability kit. It has fewer annual requirements, making it well, simpler. Less red tape is a very good thing.<\/p>\n

Our LLC kit is available below:<\/p>\n