Bill description: This bill would eliminate a filing fee that the Secretary of State charges for a Statement of Termination.
Does it directly or indirectly create or increase any taxes, fees, or other assessments? Conversely, does it eliminate or reduce any taxes, fees, or other assessments?
The Secretary of State charges numerous different fees for copying and certifying varied business filings in Idaho. Among them is a $30 fee for filing a Statement of Termination. HB 361 would eliminate this fee.
Not only does eliminating this fee remove the cost to business entities in the state, it would also remove the need for the administrative process of terminating a business partnership through the Secretary of State. In 2017, 45 businesses filed this statement and paid the $30 fee. Without this fee it would have saved these businesses a total of $1,350
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