How to Incorporate a Small Business in Indiana
The process of incorporating in Indiana can't be simpler. In 2009, some 31,590 businesses incorporated in Indiana. The Indiana Secretary of State's (SOS) office provides a trove of information on starting a small business in Indiana. The office website includes step-by-step instructions on incorporating, informational guides and an online payment system.
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Things You'll Need
- Business name
- Indiana business address
- Name of principals
- Computer, fax, or phone
Instructions
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Incorporating a Small Business in Indiana
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Decide the type of entity you want to register your business under, such as sole proprietorship, partnership, corporation, limited liability company, and a nonprofit corporation, among others. Although the SOS's Corporations Division can provide you with more information on the advantages of each type, it's advised that you contact an attorney for further assistance.
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Record the name of your business with the SOS's office. Under Indiana law, the name you choose must be discernible from other recorded names of businesses operating in the state. This must be done before you complete the application to incorporate.
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Download the application from the SOS's Corporations Division for the business type you've selected or contact the division directly to request an application by mail or fax.
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Complete the application. You must provide an Indiana address for your business. This is known as the Registered Agent, and serves as the official mailing address for all correspondence from the state to the business. The address must include an official street address, not a P.O. Box. The address must be continually maintained as an entity operating within Indiana. You also must supply the names and address for your business' principal officers other than yourself. These people may include executive directors, officers, and potentially the secretary of the business. You may be asked to obtain their original signatures depending on the business type you're registering. In addition, depending on the type of business you register as, you may need to provide additional information with your application. For example, if you register as an S-Corporation you may need to include names and addresses of all the corporations with whom you have some affiliation. Businesses filing as a limited liability companies may need to supply an operating agreement with their application.
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Pay the filing fee and include it along with your completed application. The filing fee is based on you business type. As of 2010, the filing fees range from $30 to $90. If you're filing your application online, you can submit your payment by credit card electronically. If you're completing an application in hard-copy form, then you need to mail a check to the SOS's Division of Corporations along with your application. The address is listed on the SOS's website.
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Wait for a decision on whether your application for incorporation is approved. A decision is sent by mail to the address listed for the business from the SOS's office. If you applied online and created an account, you can check the status of the application electronically. Once approved, you're officially incorporated in Indiana and now must adhere to all state business laws.
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Resources
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