Indiana ranked 15th in Total Gross State Product and 1st in the Manufacturing and Durable Gross State Product categories among all 50 States. (U.S. Bureau of Economic Analysis, 2004)
Indiana ranked 4th in Venture Capital Invested Per Deal. (PricewaterhouseCoopers Thomson Venture Economics/National Venture Capital Association MoneyTree Survey, 2004)
Among states levying corporate income taxes, Indiana’s rate ranks 2nd lowest nationally. (Tax Foundation, 2004)
Cost of living
For Indianapolis, IN (2005):
Index Score
Composite:
91.2
Housing:
77.9
Utilities:
98.9
Misc. Goods & Services:
93.2
Crime Rate
Indiana has the 22nd lowest crime ranking in the U.S. (U.S. Dept. of Justice, FBI, Uniform Crime Reports, 2004)
Fees & Taxes
Business Inventory Tax Business inventory is taxed. Manufacturers may have inventories assessed on average annual value.
Corporate Income Tax Rate: 8.5% of adjusted gross income.
Personal Income Tax Rate: 3.4% of adjusted gross income. If you operate your business as an S corporation, partnership, limited liability company or sole proprietorship, you may be subject to a 3.4% personal income tax on your business’ income that is not taxed at the corporate level, but instead passes through to you and any other business partners or shareholders.
Personal Property Tax Taxable. Indiana is one of the 38 states that collect property taxes at both the state and local levels. Indiana does not collect taxes on intangible property.
State Sales and Use Tax Base Rate: 6%
Machinery Rate: none
There is an exemption for sales of manufacturing machinery for direct use in manufacturing, producing, etc., tangible personal property.
Unemployment Insurance The new employers’ rate in Indiana is 2.7% for 3 years.
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!
Indiana LLC and Corporation Registration and Formation
Indiana is a state that is often considered as the orthopedics capital of the world and it also has the distinction of being home to the world’s second-largest automotive industry. Economists believe that if you form an Indiana business then your business can grow along with Indiana’s economy and become an integral part of an innovative business environment. Some of the top industries in the state include Auto manufacturing, Life sciences, Transportation, Information technology (IT) with IT-related marketing being at the forefront, and Research and Design.
We are one of the top Indiana registered agents and are familiar with all incorporation processes pertaining to the Indiana State and can provide information and assistance for successful set up of your business!
LLC company formation in Indiana is governed by Indiana Code, IC 23-18-1-3. The procedure for registration and formation of LLC is as follows:
Step#1: Maintain a registered agent
One of the essential steps towards company formation in Indiana is hiring and maintaining an agent. Whether you form a Limited Liability Company or a C Corporation, each business entity in the state is required to maintain a registered agent pursuant to Indiana Code, IC 23-18-2-10 (LLC) and IC 23-1-24-1 (Business Corporations). We would take this opportunity to share with you the fact that we are one of the top registered agents in the state and have been responsible for over 11,494 businesses set up in Indiana.
We are in compliance with all regulations in the State of Indiana.
Step#2: Name Reservation/Registration
A business name is crucial to the existence of any business entity and without a name, an LLC or business entity will not get registered in the state. A domestic entity can reserve their name for a period of 120 days pursuant to Indiana Code, IC 23-18-2-8. The name reservation application has to be submitted to the Secretary of State. The naming requirements for company formation in Indiana highlights the fact that the chosen business name should be distinguishable from the name of any other entity on the records of the secretary of state.
Step#3: Articles of Organization and Foreign Registration Statement
Registration documents for LLC company formation in Indiana are separate for domestic and foreign business entities. If you are planning to form a domestic LLC then you will have to file “Articles of Organization” pursuant to Indiana Code 23-18-2-4. If you are planning to form a foreign LLC in the state then you will be required to file “Foreign Registration Statement” pursuant to Indiana Code 23-18-11-2. The registration documents have to be submitted to the secretary of the state.
We can file the form on your behalf as your registered agent in the state and provide you with certified copies of the LLC registration.
Should you have any questions regarding how to form an Indiana business, feel free to call us on 702-871-8678.
Indiana Corporation Registration and Formation
How do you form a corporation in Indiana? The incorporation of domestic and foreign business entities is governed by Indiana Code, IC 23-1-17-3 and IC 23-1-17-4. The process of incorporation is as follows:
Step#1: Maintain a Registered Agent
One of the essential steps towards company formation in Indiana is hiring and maintaining an agent. Whether you form a Limited Liability Company or a C Corporation, each business entity in the state is required to maintain a registered agent pursuant to Indiana Code, IC 23-18-2-10 (LLC) and IC 23-1-24-1 (Business Corporations).
We would take this opportunity to share with you the fact that we are one of the top registered agents in the state and have been responsible for over 11,494 businesses set up in Indiana. We are in compliance with all regulations in the State of Indiana and will assist you to form a corporation in Indiana.
Step#2: Name Reservation/Registration
A business name is crucial to the existence of any business entity and without a name; a business corporation will not get registered in the state. A domestic entity can reserve their name for a period of 120 days pursuant to Indiana Code, IC 23-1-23-1 for a business corporation. The name reservation application has to be submitted to the Secretary of State. The naming requirements for company formation in Indiana highlights the fact that the chosen business name should be distinguishable from the name of any other entity on the records of the secretary of state.
Step#3: Articles of Incorporation and Foreign Registration Statement
If you are planning to form an Indiana business entity then the most important step is to prepare and file the right registration or business formation documents. If you are planning to form a domestic Indiana corporation then you will have to file “Articles of Incorporation” pursuant to Section 23-1-21-3, 2015 Indiana Code. If you are planning to incorporate a foreign business entity in Indiana then you will be required to file a “Foreign Registration Statement” pursuant to Indiana Code 23-1-49-1. The registration documents have to be submitted to the secretary of the state.
We can help in streamlining the process of company formation in Indiana by filing documents on your behalf through the online process or through an expedited process.
If you have any questions regarding Indiana incorporation or LLC formation, you can simply visit the Indiana Business formation page.
Once you have registered your new business, it is time to make it operational. Your business can only operate in the state when there is a proper business license or permit. It is important to know that Indiana does not have a single comprehensive license or permit for businesses. Any business in Indiana will be subject to regulatory requirements and this may involve different state agencies.
Indiana Business License Requirements
How do you obtain a business license in Indiana? More importantly, does your business require a license or a permit? Who is responsible for issuing these licenses? These are some of the important questions that you might be confronted with and hence, we have created a guide that will help answer some of these questions.
The most important step towards acquiring an Indiana company license is identifying the type of business.
The Industry or Business Type
The state of Indiana provides business licenses and permits to more than 400 different types of businesses. The type of industry or the activities a business is engaged in helps in identifying the type of business license required. At the same time, it is important to know that there are certain service-oriented businesses that will not require any business licenses for operating within Indiana.
In the state of Indiana, the requirement for a permit or business license is dependent on the type of industry or services. Some of the main categories of services for which a license or permit is required are:
Contractor services
Health and safety
Day care services
Transportation related service
Financial services
Alcoholic Beverages
Specifically Regulated professions
State or Local Business License
There is another very important aspect that you need to consider. A business license in Indiana is not always issued by the state but also by local counties. There are certain businesses that may require multiple licenses or permits while others may require state business licenses and local county permit or vice-versa to operate. There are some businesses that may not require any type of business entity license under the federal or state law.
The next important question is how do you proceed? Once you have identified the area of location of your business, the industry, and the services offered, you will have to approach the right authorities for issuance of an Indiana company license.
Let’s take a look at an example to understand this better.
TYPE OF BUSINESS: RESTAURANT
If you are planning to establish a restaurant business that intends to sell alcoholic beverages like wine, beer, and liquor, then you will have to first identify the license type. In this case, if your business is Type-112 Restaurant and Beer & Wine Retailer then the next step would be to call the Alcohol & Tobacco Commission at 1-317-232-2430 and speak with a processor. They will be able to tell you if Type-112 business license is available in the county, city, or area where you are planning to locate your business.
Once the type of license required by your business has been confirmed, you will have to request the Alcohol & Tobacco Commission to send you the necessary forms.
After you have filled up the Indiana business license form, you have to submit the application to the Alcohol & Tobacco Commission along with the prescribed fee. The processing time can take anywhere from 10-12 weeks.
NOTE: It is also important to note that most of the counties in the state of Indiana require businesses to acquire a permit to operate a “Retail Food Establishment”. Apart from this, several health and sanitary certifications would be required prior to making your restaurant operational.
The bottom line is that the type of business license, the issuing authority, and licensing fee will depend on the city or county where your business is registered or based.
Setting up a new business can be quite a cumbersome process but the most important thing to keep in mind is choosing the state to establish your business in. People interested in register a new company in Indiana need to be sure the state offers them benefits that will aid in their growth in the long run.
Indiana with a Gross State Product of $336 billion is considered among the top 10 states for business by Forbes. The state offers new businesses:
A strong economic climate
Growth prospects in the competitive national and international markets
Lower business set up and operation costs
Variety of incentives
Advantages of setting up an LLC or Corporation
When it comes to establishing a startup company Indiana what type of business should you opt for? In the state of Indiana, you can choose between informal associations (sole proprietorship and general partnership) and formal associations (LLC, C Corporation, S Corporation, limited partnership, and limited liability partnership).
If you are planning to form an LLC or a Corporation what benefits are you likely to get in the state? Let’s look at the advantages of the most common forms of formal associations:
Advantage#1: Salient benefits of Corporation or LLC formation
Corporation
Independent Life: If you register a new business in Indiana as an S Corporation then the most important advantage is that it will enjoy an independent life. The business entity will continue operation undisturbed even if it is faced with the death of one of its stockholders.
Change in Ownership: If you have formed an S Corporation in Indiana then sale, purchase, as well as gifting of stock can facilitate changes in ownership. The changes can take place without disturbing the ability of the corporation to conduct its business.
Raise additional Funds: If you register a new company in Indiana as a C Corporation then the business entity will be able to raise additional funds through sale of stock.
LLC
Limited Liability: The owner of an Indiana LLC will be able to enjoy limited liability protection, which means creditors can sue the LLC but not the owner or investors.
Flexible Profit Distribution: When you register a new business in Indiana as an LLC, it will enjoy the benefit of being able to select different ways of distribution of profits.
Flow through Entity: An LLC is considered to be a flow through entity, which means the LLC will not be subjected to corporate income tax.
No Minutes of meetings: Unlike a corporation, an LLC startup company in Indiana will not be required to maintain any minutes of the meetings or resolutions.
Advantage#2: Business Incentives
Are there any other advantages that a startup company Indiana can leverage? There are several state and federal incentives, loans, grants, tax credits etc., available to small and medium sized enterprises. Let’s take closer look at the most popular incentives for businesses in Indiana:
Indiana Enterprise Zones: If you register a new company in Indiana Enterprise Zone then your business entity can leverage from a variety of incentives and tax credits. If your business was situated in Bloomington, which is one of the Indiana EZ’s then your business would benefit from a variety of credit programs like Inventory Tax Credit, Investment Cost Credit, Employment Expense Credit, Loan Interest Credit, and Gross Income Tax Exemption.
Hoosier Business Investment (HBI) Tax Credit: This is a type of incentive program targeted at a startup company in Indiana in order to bring in capital investment, support job creation in the state, and lead to overall improvement in the standard of living for residents.
Research & Development Sales Tax Exemption: This is a program which allows businesses involved in research and development leveraging from a 100 percent sales tax exemption.
If you register a new business in Indiana, there are several other incentive programs that you can benefit from including Industrial Development Grant Fund, Economic Development for a Growing Economy (EDGE), Headquarters Relocation Tax Credit (HQRTC), Skills Enhancement Fund (SEF), and Venture Capital Investment Tax Credit (VCI) among others.
Are there any Disadvantages of Incorporating in Indiana?
A startup company in Indiana, whether domestic or foreign will enjoy more benefits in the state. Of course there are a few disadvantages like: incorporation may lead to higher overall taxes. The good news is that the disadvantages will not have any negative impact on your business growth in the long run.
Including California State Initial Filing fee $100.00 and $89.00 fee for checking name availability,preparing California state-approved Articles of incorporation, filing Articles with state, sending Articles to you.
See what’s included
$100.00 – California State Filing fee
$89.00 – Checking name availability, preparing state-approved Articles of Incorporation, filing Articles with state, mailing them to you.
File California Statement of Information (Initial List) – report names of officers or member/managers that must be filed with the California Secretary of State within 90 days after filing original articles, and every year thereafter in the applicable filing period.
Yearly requirements and fees for California corporations
Annual list (Statement of Information) has to be filed yeach year. We will remind you by email about this requirement 1-2 months before it is due. Be sure to keep updated information with us!
Franchise Tax. Every California company is subject to an additional Franchise Tax that is $800.00 per year.
Resident Agent annual fee is $89.00, but if you pre-pay, we give you additional years for only $40.00.
702-871-8678
