LLC Formation Costs in Indiana
The cost to start an LLC online in Indiana is $95. This fee is paid to the Indiana Secretary of State when filing the LLC’s Articles of Organization.
Optional LLC formation costs include service fees from $29. Costs for registered agent service range from $50 a year up to $300 or more.
If you currently have an LLC in another state and want to expand into Indiana, you must register your foreign LLC. The cost is $105 online or $125 by mail. Depending on your industry and area, you may need permits and licenses to operate in Indiana.
When starting an Indiana LLC, you also need $50 every other year to file a report. Other expenses include registered agent services and business insurance.
Filing Procedures and Timeframes
Mail filings for Indiana LLCs take 2-3 weeks for processing and mail time. The fastest filing method is online, with approvals that can be instant or take 1 day with less traffic. To file online, you need an Access Indiana Account. With information ready, filing takes about 15 minutes.
Additional Considerations and Costs
Additional costs include a $10 name reservation fee. Filing on your own is the cheapest option for LLC formation.
The main cost to start an LLC in Indiana entails a $95 Certificate of Formation filing fee and an additional annual $30 report required every 2 years. You also need an Employer Identification Number (EIN) for various business activities.
It takes 1-2 weeks on average to set up a bank account after the LLC. New customers typically need to visit the bank in person with identification and Articles of Organization.
A tax professional can advise on proper tax filing and payment strategies.
Business Structure and Licensing Costs in Indiana
How much does it cost to get a business license in Indiana?
When considering the initial fees and annual reports, Indiana presents itself as an attractive state for business registration. The most common types of companies in Indiana are the Limited Liability Company (LLC) and Incorporated Company (Inc.).
A sole proprietorship, which only has one owner, is the simplest business structure and does not need to be registered with the Indiana Secretary of State.
Indiana stands out for its competitive cost structure, including affordable real estate, utility costs, and labor costs. The state’s central location also provides easy access to markets.
Registered agents in Indiana receive tax forms and correspondence on behalf of the proprietorship, corporation, or LLC. You can choose an Indiana resident or a registered agent service to conduct business in the state.