Forming an LLC in Indiana

Here is an outline of the steps you need to follow in order to form an LLC in Indiana. You should also read the general section on forming an LLC for information that is applicable in any state.

1. Choose a business name for the LLC and check for availability.

  • Indiana law requires that an LLC name contain the words "limited liability company," "L.L.C.," or "LLC." Additionally, your business name must be distinguishable from other names on file with the Secretary of State (limited exceptions apply).

2. Prepare and file articles of organization with the Secretary of State.

3. Negotiate and execute an operating agreement.

  • Indiana does not require an operating agreement in order to form an LLC, but executing one is highly advisable. There is no set criteria for the content of an operating agreement, but it typically includes topics such as how meetings are conducted, how the company will be managed, what capital contributions are required from each member, and how profits and losses will be allocated. The operating agreement does not need to be filed with the state. Please see the Operating Agreement section for details.

4. Obtain any required local licenses.

5. Determine what tax and other regulatory obligations the LLC has, and take care of any necessary registrations.

  • Request an Employer Identification Number (EIN) from the IRS. This can be done via its online application. There is no filing fee.
  • Whenever you hire an employee in Indiana, you must inform both the IRS and the State of Indiana. You can find details of all the necessary steps, including verifying work eligibility and withholding allowances, on the Hiring Employees section of the IRS website. You can find state-level information about reporting new hires at the Indiana New Hire Reporting Center website.
  • If you have employees in Indiana, you must carry workers' compensation insurance. You may choose to purchase it for yourself, but you do not have to do so.
  • As a small business owner or employer, there may be other informational returns that you have to file annually or semi-annually with the IRS. For more information, take a look at the IRS Guide To Information Returns.

6. Open a bank account for your business.

  • It is a good idea to keep your business's finances separate from your personal accounts. A good way to do this early on is by opening a bank account for your business. You will probably need a Tax ID number (EIN), a copy of the articles of organization, and a resolution identifying authorized signers if those names are not listed in the articles. Here is one example of the documentation that banks ask for.
Other Notable Requirements for Maintaining an LLC in Indiana
 

Last updated on September 29th, 2010

   
 
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