If you’re ready to start a business but not sure where to start, look no further. Registering an LLC in Indiana doesn’t have to be difficult. We’ve broken down the key steps to forming an Indiana LLC in this guide to get you closer to launching your dream business.
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Indiana LLC Quick Facts
- To register an LLC in Indiana, you must file Articles of Organization.
- Forming an LLC helps to ensure your personal assets are protected.
- The filing fee to start an LLC in Indiana is $95-$100.
– All LLCs in Indiana are required to submit a Business Entity Report every two years to maintain compliance.
– To keep your Indiana LLC in good standing, you must pay an annual fee.
6 Steps to Forming an LLC in Indiana
Start forming your business today with these six steps to registering an LLC in Indiana.
To register an LLC in Indiana, follow these 6 steps:
- Name Your Indiana LLC
- Appoint a Registered Agent
- File Articles of Organization
- Create an Operating Agreement
- Obtain an EIN and Handle Taxes
- File a Beneficial Ownership Information (BOI) Report
Step 1: Name Your Indiana LLC
To begin the process of registering an LLC in Indiana, the first step is to choose a name for your business.
Indiana LLC names must adhere to certain guidelines:
- The name must include the term “Limited Liability Company” or its abbreviations, such as LLC or LC.
- The name must be unique and not be too similar to any existing business entity registered in the state.
- The name contain restricted words or terms that require approval
For the full list of LLC naming requirements, review the guidelines provided by the Indiana Secretary of State.
To ensure that your chosen name is available for use, you can conduct a business name search on the INBiz website.
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Step 2: Select a Registered Agent
To register an LLC in Indiana, you are required to select a registered agent. A registered agent in Indiana is an individual or business entity that receives important legal and government documents on behalf of your business.
The registered agent can be the LLC owner, an employee, a friend, family member, or a registered agent service.
An Indiana registered agent must:
- Have a physical address in Indiana
- Be available during normal business hours
- Not be the LLC itself
Step 3: File Articles of Organization
To register your LLC in Indiana, one crucial step is to file the Articles of Organization with the Secretary of State, Business Services Division. You can choose to complete this filing online or by submitting Form 49459 by mail.
The filing fee is $95 online or $100 if submitted by mail.
We recommend that you prepare the following details:
- Your LLC’s name and address
- Your registered agent’s name and address
- Period of operations (perpetual or a date your LLC will be dissolved)
- Management structure (manager-managed vs. member-managed)
Quick Note: If you’ve already formed your LLC in another state, you need to file as an Indiana foreign LLC. You can do so by submitting a Foreign Registration Statement online or by mail along with a $125 filing fee.
Step 4: Create an Operating Agreement
In Indiana, creating an operating agreement for your LLC is highly recommended but not required. Keeping an updated LLC operating agreement can benefit your business and its members in the long run.
This document outlines the internal procedures and ownership details of your company, ensuring that all members are on the same page and helping to prevent conflicts in the future.
Step 5: Obtain an EIN and Handle Taxes
An Employer Identification Number (EIN) is essential for your LLC in Indiana.
This unique number is used by the IRS for tax reporting purposes and is required for taxes, hiring employees, and opening a business bank account.
You can obtain your EIN for free on the IRS website.
Additionally, make sure to identify any additional tax obligations your business may have by visiting the Indiana Department of Revenue website.
Step 6: File a Beneficial Ownership Information (BOI) Report
Finally, you need to file a Beneficial Ownership Information (BOI) report with the US Financial Crimes Enforcement Network (FinCEN).
For new LLCs, this filing must be completed within 90 days of formation. Existing LLCs have until January 1st, 2025 to comply.
Failure to do so results in a daily fine of $500.
You can file a BOI report on the FinCEN website for free.
Next Steps
- Set up a business bank account to keep your personal and business finances separate. We recommend opening an account with Lili. This takes only minutes and provides your business with valuable financial tools.
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- Secure licenses and permits that may be required for your business at the federal or state level. For more information, visit the INBiz website.
- Get business insurance. Specifically, general liability insurance, workers’ compensation insurance, and other coverage that may be relevant to your industry. Next Insurance makes finding insurance coverage quick and easy.
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- File a Business Entity Report. This is due to the Secretary of State online or by mail every two years, at the end of the anniversary month of your LLC’s formation.
Additional Tips for Success
- Build a strong network: Foster connections with other entrepreneurs, mentors, and industry leaders to gain support and potential opportunities.
- Get to know your target market: Effective market research is crucial to business success and finding the right customer base for your LLC.
- Plan for the future: Develop a clear roadmap for your business goals to guide your company towards success and growth.
Conclusion
Forming an LLC in Indiana can be as simple as a few steps. But, make sure you follow each step carefully to start your business off on the right foot. Do your research and keep updated on regulatory changes in your state to ensure your business maintains its good standing.