The IRS does not have a separate taxation category for Idaho LLCs. This allows the LLC members to elect at their own discretion a form of taxation that makes the most sense for their business.

While your taxes will change, the facts, ownership, and management structure will not.

For example, if you elect to have your Idaho LLC taxed as an S or C-Corporation, you will not have shares of stock to sell, or be qualified for an IPO. To receive the full benefits of an Idaho Corporation, you must formally convert your entire LLC.

Taxation choices include:

  • Sole Proprietorship (single-member)
  • Partnerships (two or more members)
  • S-Corporation (single or multi-member)
  • C-Corporation (single or multi-member)