How to Start an LLC in Indiana

A limited liability company is a legal way to structure a business.

Moreover, any business owner who seeks to limit their liability for business debts and lawsuits should consider forming an LLC.

As a new LLC business owner in Indiana, there are procedures and steps to setting up an LLC.

These procedures include everything that will keep your business up and running.

So in this article, you will learn about the ultimate guide on how to start an LLC in Indiana with ease.

How To Start An LLC in Indiana

Here is a step-by-step guide on how to start an LLC in Indiana.

Here are the most straightforward steps involved in forming your LLC in Indiana:

Choose a Name for Your LLC
Appoint a Registered Agent
File Articles of Organization
Prepare an Operating Agreement
Obtain an Employer Identification Number (EIN) from the Internal Revenue Service
File Biennial Reports

Choose a Name for Your LLC

All LLCs in Indiana must choose an LLC name that contains the last words, “Limited Liability Company,” “L.L.C.,” or “LLC.” under Indiana law.

However, the name may contain the name of a member or manager.

In addition, your LLC’s name must be recognizably different from the names of other business entities already on file with the Indiana Secretary of State.

Meanwhile, names may be searched for availability by searching the Indiana Secretary of State business name database.

Also, you may reserve a name for up to 120 days by filing a Reservation of Business Name with the Secretary of State.

The reservation must be filed online for a fee of $20.

In Indiana LLC, you can use an assumed Business

You don’t have to use your LLC’s official legal name registered in your Articles of Organization when you do business in the real world.

Instead, you can use an assumed business name, a fictitious business name, “DBA” or “doing business as,” or a trading name.

You must register your assumed name with the Indiana Secretary of State.

Also, you may register online or by postal mail by filing a Certification of Assumed Business Name.

The filing fee is $20 when you register online and $30 for filings by mail.

Appoint a Registered Agent

Every LLC in Indiana must have an agent for the service of process in the state.

This registered agent is an individual or business entity that agrees to accept legal papers on the LLC’s behalf if it is sued.

They may be an individual who resides in Indiana or a domestic or foreign business entity authorized to do business in Indiana.

However, the registered agent must have a physical street address in Indiana.

File Articles of Organization

All LLCs in Indiana are created by filing Articles of Organization with the Indiana Secretary of State Business Services Division. The articles of organizations must include:

the LLC’s name
the LLC’s address
the name and address of the LLC’s registered agent
whether the LLC’s duration will be perpetual or for a specified period
whether the LLC will be manager-managed or member-managed, and
signature of the LLC’s organizer.

Also, the articles may be filed online or by postal mail. The filing fee is $100.

Prepare an Operating Agreement

Even though an LLC operating agreement is not required in Indiana, it is highly recommended.

An operating agreement is an internal document that establishes how your LLC will be run.

Also, it sets out the rights and responsibilities of the members and managers, including how the LLC will be managed.

In addition, it can help preserve your limited liability by showing that your LLC is a separate business entity.

However, the state LLC law will govern how your LLC operates in the absence of an operating agreement.

Obtain an Employer Identification Number (EIN) from the Internal Revenue Service

You must obtain an Employer Identification Number (EIN) from the Internal Revenue Service if LLC has more than one member.

Even if it has no employees or you form a one-member LLC, you must obtain an EIN for it only.

You may obtain an EIN by completing an online application on the Indiana Internal Revenue Service website for free.

File Biennial Reports

All limited liability companies in Indiana must file a Business Entity Report with the Secretary of State every two years. The report is due for filing every other year on the anniversary month of your LLC’s formation.

This report can be filed by mail for $50 and $32 for online filings.

How to start a Foreign LLC In Indiana

If your business is already operating in another state and you want to expand to Indiana, you’ll need to form a Foreign LLC.

This is because forming a foreign LLC allows your company to operate as one entity in multiple states.

Also, if you have an existing LLC and want to do business in Indiana, you must register as a foreign LLC.

Conclusion

To start an LLC in Indiana, you need to fulfill all the LLC formation checklist by choosing a unique name for your business, appointing a Registered Agent, preparing an operating agreement, filing your article of organization, and getting your Employer’s Identification Number, and file biennial reports.

However, if you find these processes daunting, you can choose to seek professional services at a cost.

We hope you find the article on how to start an LLC in Indiana advantageous.