Setup Indiana limited liability companies & corporations

The Hoosier State of Indiana is home to many basketball players, and many corporate entities.  There are many reasons that people live in Indiana, but for me I personally love the landscape of the State, the historic homes, and the Indiana Pacers.  In the business climate, business owners have the option to choose to file an LLC or Corporation for their business.  The reasons to choose an entity like these are many, so let's just focus on the top two reasons here:

  1. limited liability protection - The business will have the protection of having a separation between their business assets and their personal assets.  This protection will be granted to those businesses who operate appropriately and who keeps a separation between the assets.  So, you don't want to commingle the funds.
  2. pass through taxation - This is a tax status afforded to those who file an S-Corporation or an LLC in the State of Indiana.  The standard corporation that is setup is a C-Corporation.  You must then file a subsequent form with the IRS to turn the C-Corporation into an S-Corporation.  Don't forget this step!  Next, the default for a limited liability company is a pass through entity.

Please speak with a CPA or Attorney in Indiana to determine if the filing type is right for you.

Form an Indiana LLC

When you decide to form an Indiana LLC, you are making a popular choice among business owners.  Every state is different, but the simple fact that you are getting pass through taxation and limited liability protection are compelling reasons to form this exciting business type.  One of the main obstacles in registering or completing your forms is going to be picking a name for the business, so let's go over some tips:

  1. The name of the business must end in "limited liability company", "LLC", or "L.L.C".
  2. You must have a registered agent who lives in the state and is willing to accept mail for you at a physical address ( cannot be a P.O. box )
  3. You must supply an email address for your registered agent.
  4. You must declare the dissolution of the LLC as perpetual, or set a termination date.
  5. The member and manager information must be detailed on the form.
  6. The form must be signed by an organizer.

If you have more questions about how to form an LLC in Indiana, please check out this link.  Also, you are able to file your entity online at the State website and you can see the link below.

Incorporate in Indiana

Whether you choose to file for an LLC or Corporation in Indiana, you will still be getting a number of benefits.  It is important to remember, that the main issue with filing for either LLC or INC is that you will get limited liability protection.  This is key to limiting your risk of loss in the event of a lawsuit.  Here is a list of benefits for the corporation:

  1. limited liability protection
  2. pass through taxation ( for the SCorp Filing )
  3. stand alone entity taxation ( for the C Corporation )
  4. Shares can be easily issued to owners
  5. Only up to 100 shares can be issued for S Corporations
  6. Shares can be easily sold or transferred to new owners
  7. Shareholders receive their income from the business as a percentage of ownership.

As you can see, there are a lot of great benefits to running a business as a corporation in Indiana.  Talk to a CPA or Lawyer in the state, or your local town to make sure which type of entity is right for you.

Naming an Indiana Corporation

The naming of a corporation in Indiana must follow specific guidelines and rules.  First the corporation name must contain the words: "corporation", "incorporated", "limited", "company", or an abbreviation thereof.  The corporation is also prohibited from using certain reserved words that may be regulated for use in special business names.  For example, unless approved you will not be able to use the words "Banc", "Bank" in your filing unless approved by the appropriate regulating agency.

Indiana Secretary of State Links:
Secretary of State Address :
Connie Lawson
Indiana Secretary of State
201 State House
Indianapolis, IN 46204
Secretary of State Phone :
(317) 232-6531
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