How to Start a Business in Coeur d’Alene Idaho
Starting a new business in CDA can be frustrating and time consuming. However, we have attempted to make this a little easier for those who are new to business or at least new to the Coeur d’Alene area.
6 Steps to Starting a Business in CDA
- Decide what business formation is practical for your current financial and potential growth. This is a big decision and could cost you 20% in future tax liabilities if not made correctly. We recommend Coeur d’Alene Accounting to answer these questions and their “bank ready” business formation packages are a local favorite.
- Form your business with Idaho State.
- After the State portion is approved File for your Federal Tax Identification Number.
- Prepare the final Operating Agreement or Corporate Bylaws to separate yourself from business liabilities.
- File and get your approval for an Idaho State Business License. During this process you may also need to get your Sales Tax License, Resellers Permit, Vacation Rental Permit, Withholdings, Unemployment, and Workers Compensation.
- Once you have received all of your State & Federal Business Documents you will now open your business bank account and operate your business legally in Idaho.
There may be other items needed to properly start your business depending on your situation and industry. This list will provide you a basic guide so that you know what is required for an average business in the Coeur d’Alene area.