How to start an LLC company in Indiana

Starting a corporation is a great idea. Your small business will get many tax benefits, more respect as a corporation, and more protection from lawsuits as a corporation. An LLC is simpler to set up and manage than an "incorporated" corporation. If you live in Indiana, here's how to set it up.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• computer with internet connection
• $90.00 for Indiana fee
• $25.00 for Indiana Dept of Revenue fee (optional)

1. Go to http://www.in.gov/sos/. This is the Indiana Secretary of State's website. Click on "INBiz". Click "corporations". Click "Form a New Business Online".

2. Register with the site. For the field "Select Entity Type", select "Domestic Limited Liability Company (LLC)". Put in a valid email address where you may be reached. You will be contacted on this email address from the Secretary of State's office.

3. Put in the company name you wish to use. Select "full word search", and then click the Search button. It will tell you right away if your name is available. Once you have found an available name, click the Continue button. Select the preferred suffix (that is, LLC, L.L.C., or Limited Liability Company). Click Continue.

4. Here it will bring up a summary page. Look this over. If it looks good, click Continue. If not, go back and edit it.

5. At this point, it gives you four lines. You need to click the +Open sign to the right of each line and fill in the needed information. When done with all four lines, Click Checkout and Submit Registration.

6. Follow the directions to finish registration and to pay the state of indiana's fee. It is $90.00. You can pay with debit or credit card. You will most likely receive confirmation of your corporation the same day, generally within an hour. You will receive your articles of incorporation by email from the secretary of state's website. Keep these articles. Print them out and hold them in a safe place.

7. If you are selling a product, you will need to register with the state of Indiana Dept of Revenue, and also the IRS to get a Federal Tax ID number. There is no fee to get a federal tax id number, but the Indiana Dept of Revenue charges $25.00 to register with them. Ironically, you have to pay $25.00 for the privilege of collecting taxes for them.

Tips & Warnings

• The Secretary of State of Indiana's phone number is 317-232-6531.
• The Indiana Dept of Revenue's phone number is 317-233-4018.
• If you are planning to do business in other states outside Indiana, you will probably need to register with every state you do business with as a Foreign Limited Liablility Corporation. There are separate fees charged by each state, so make room for these charges in your budget. Check each state's laws about what they require. If you're only doing business by mail or over the internet, some states have exceptions to this rule.

Resources

• Indiana Secretary of State
• Indiana Dept of Revenue
• IRS for Federal Tax ID
• Master Blueprint for Internet Success (ebook)

[smilesatme1]

on 10/27/2008 thanks!