No. All profits, wages, or draws, must include self-employment taxes of 15.3% per the Idaho LLC laws. Unfortunately, Coeur d’Alene Idaho LLC owners are unable to deduct these expenses from the business and get stuck paying all payroll taxes out of pocket. An Idaho LLC is the least preferred by higher income earners.
Idaho C or S-Corporation Elections: While your taxes will change, the facts, ownership, and management structure will not.