Indiana is a state that is well connected through ports, roads, rail, and air making it easier for small businesses to reach out to customers within the state, in the country, and globally as well. This is one of the key factors contributing to rise in incorporation in Indiana. Some of the top companies or organizations based out of the state include AM General, Atlas Van Lines, Anthem Inc., Three Floyds Brewing, Steak ‘n Shake, Shoe Carnival, Scott’s Food & Pharmacy, Marsh Supermarkets, Indianapolis Power & Light, and CNO Financial Group among others. The current-dollar GDP was $359.1 billion in 2017 and the largest industry is that of durable goods manufacturing.
Why Choose Indiana for Incorporation?
Is company incorporation in Indiana a really good business option? Indiana not only offers a great business climate but also the opportunity in the form of business incentives so that start ups can grow within the state.
Now let’s take a look at some of the salient benefits that are responsible for fueling growth of small businesses:
- Enterprise Zones: This is a program aimed at small and medium sized enterprises. If you set up company in Indiana enterprise zone then your business would be eligible for a variety of abatements, credits, and deductions like the Loan Interest Credit, Property Tax abatements, Employment Expense Credit, and Inventory Tax Credit. Map of Enterprise Zones
- Hoosier Business Investment (HBI) Tax Credit: The HBI program has been implemented to provide incentive to those businesses that require capital investment and are aimed at supporting jobs creation as well as improving the standard of living of Indiana residents.
- Economic Development for a Growing Economy (EDGE): This is a type of tax credit that provides incentives to small and medium sized startups after incorporation in Indiana. This is a refundable corporate income tax credit.
How do you incorporate in Indiana?
Is there a process for company incorporation in Indiana? Do you require any specific documents? How can you submit or file these documents? These are some of the questions that you will be confronted with and hence the following steps will provide you with information on how incorporation works in Indiana:
Type of Business
What type of business would you like to form in Indiana? Will it be a Sole Proprietorship firm or a C Corporation? The type of domestic or foreign businesses that can be incorporated or formed in the state include Sole Proprietorship, General Partnership, Corporation, S-Corporation, Limited Liability Company, Limited Partnership, Limited Liability Partnership, and Nonprofit Corporation. The first step towards company incorporation in Indiana is to identify the type of business you want to set up. Know more
Business Entity Name
What is the next step towards incorporation in Indiana? The next step is to identify and reserve a name and this can be done as follows:
- Naming Requirements: The naming requirements for LLC should be pursuant to Indiana Code, IC 23-18-2-8 while that of a business corporation should be pursuant to Indiana Code, IC 23-1-23-1. The name of each limited liability company must contain words like “Limited Liability Company” or abbreviations like “L.L.C.” or “LLC”. A corporate name must contain words like “corporation”, or “incorporated” or abbreviations like “corp.” or “inc.”
- Business name search: You need to search for a business name that is not in use currently. You can conduct name search here.
- Name Reservation: Once you have identified business entity name, you can reserve the name with the Secretary of State for a period of 120 days.
- Name Registration: If you are a foreign entity planning to set up a company in Indiana then you will be required to register your business name with the Secretary of State.
Application for Name Registration
Choose a Registered Agent
Indiana Code, IC 23-18-2-10 (LLC) and IC 23-1-24-1 (Business Corporations) states that each Business or Professional Corporation and Limited Liability Company is required to maintain a registered agent in the state of Indiana. We are one of the respected registered agents in Indiana and will be responsible for initiating company incorporation in Indiana through processing of all your documents including “Articles of Incorporation” for domestic corporations and “Foreign Registration Statement” for foreign corporations.
Articles of Incorporation and Foreign Registration Statement
If you are planning to form a domestic corporation (For profit), then you will have to file “Articles of incorporation” pursuant to Section 23-1-21-3, 2015 Indiana Code. If you are planning foreign business incorporation in Indiana then you will be required to file a “Foreign Registration Statement” pursuant to Indiana Code 23-1-49-1. In order to streamline the process we can file documents on your behalf through the online process or through an expedited process.
Date Stamped Copies
As a part of the process of company incorporation in Indiana, we will ensure, you receive date-stamped and filed copies that verifies that the state has filed as well as formed your corporation.
Costs and Fees associated with Indiana Incorporation
What would it cost to set up company in Indiana? Check Fees here!