How to Form a Company in Indiana

Introduction

If you’re starting a business in Indiana, you’ll need to form a company. There are several steps involved with this process that can be confusing to new entrepreneurs who haven’t done it before. This guide will walk you through all the necessary steps so that you can form your own company quickly and easily.

Step 1

Your first step to forming a company in Indiana is choosing a name for it. There are several factors to consider when doing so:

• Is your business name unique? Don’t choose a name that’s too similar to other companies if you want to avoid confusion among customers.
• Does it reflect the nature of your business? Does it sound professional, or does it make people laugh? If you’re selling plumbing services, maybe “Plumbing Pete” isn’t going to work for you.

By now, you should have some idea about where your new company will be based in Indiana and whether or not it will be an LLC (limited liability company) or corporation—but don’t worry too much about those decisions right now! You can change things later if something doesn’t feel right after you’ve formed the company and started doing business under its new brand identity.

Step 2

You’ll need to identify the type of business entity that best suits your needs. For example, some entities do not allow for a single individual or owner to own 100% of the company’s stock. Other types may require special paperwork or fees before you can open for business. In addition, if your business plans include raising money from investors or lenders, it may be helpful to consult an attorney who specializes in this area before choosing an entity form.

Once you’ve decided on an entity type and have chosen a name for your business, file a certificate of incorporation with the secretary of state. Next, obtain a tax identification number from the IRS (more about this later). Finally, apply for an Indiana sales tax permit (also more on this later). This will help ensure that your company is compliant with all state laws and regulations as soon as possible after opening its doors!

Step 3

Your board of directors will meet and elect a president. The president then files the minutes with the Secretary of State’s office.

You’ll also need to file an “Articles of Incorporation” form, which is basically just a short document that says who owns your company, where it’s located, what kind of organization it is (a corporation or LLC), and who its officers are. You also have to file something called “Bylaws,” which are rules for how your business should be run.

Step 4

The next step is to check with the state to see if there are any requirements for your type of business. For example, in Indiana, LLCs must have at least two members and a registered agent. If you’re using the form you downloaded from the secretary of state’s website, it should ask you these questions as well as other questions specific to your type of business (like whether or not you need an EIN or DBA).

Once you’ve completed this form, mail it along with any filing fees back to the secretary of state’s office.

Step 5

• Apply for a tax ID number.
• Open a business checking account and apply for a business credit card, if you don’t already have one.
• Open a line of credit with your bank or credit union so you can handle unexpected expenses that arise during the first few months of your new business. (This will also help you track your expenses.)
• Get insurance to protect your personal assets in case an employee gets hurt on the job, or any other type of accident occurs while running the company. It’s best to get this done as soon as possible so there won’t be any gaps in coverage later down the road when things get busy! If needed, we can help connect you with local insurance agents who can assist with finding policies tailored specifically toward businesses like yours – just give us a call at 317-838-4343 today!

Finally: Set up social media accounts like Facebook and Twitter where people interested in what kind of work goes on inside an Indiana LLC will be able to follow along behind closed doors; plus there’s nothing wrong with having some fun now and then too 🙂

Takeaway:

In summary, a company is a legal entity that:

• can sue and be sued
• can own property
• can enter into contracts

And it also has the following rights and obligations:

• a separate legal identity from its owners (the shareholders) *(for example, if you form a company in Indiana, your business will have its own registered address and telephone number)  *(this means that if someone wants to sue the company for some reason, they’ll have to go through certain legal steps first before suing you personally)

Conclusion

We hope that you’ve learned how easy it is to form a company in Indiana. It’s important to do your research before starting a business, but once you know what type of company is right for your needs and have gathered all the necessary information, the process will go smoothly. If you still have questions or concerns about forming an LLC, don’t hesitate to reach out and ask us! We love helping people start their own companies—and we think it shows.