Business Entity Types in Indiana
- Sole proprietorship
- Partnership
- Corporation
- Limited Liability Company (LLC)
- Nonprofit corporation
Steps to Register a Business in Indiana
- Choose your business name
- Select your business structure
- Register your business name
- Obtain licenses and permits
- Comply with tax obligations
- Create a business plan
Cost of Setting Up a Sole Proprietorship in Indiana
It costs $31 to register your sole prop online with the Department of Revenue and $50 if you register it by mail.
Setting Up a Sole Proprietorship in Indiana
Starting a sole proprietorship involves following legal requirements to ensure the business is properly established and compliant with Indiana’s laws. Steps include choosing a business name, obtaining licenses if needed, and registering for taxes.
Sole Proprietorship vs. LLC in Indiana
An LLC provides the owners with limited liability protection against company debts and obligations. In contrast, sole proprietors have unlimited liability for business debts.
Sole Proprietorship Overview
A sole proprietorship is a simple business structure where a single individual owns and operates the business. The owner is personally liable for all business debts and liabilities.
Starting Your Indiana Sole Proprietorship
- Choose a business name
Registration Requirements for Sole Proprietorship in Indiana
Similar to partnerships, sole proprietorships lack limited liability protection. Owners are personally liable for all business debts and liabilities.
Additional Information
Check with an accountant in Indiana about registering your Sole Proprietorship with the Indiana Department of Revenue.