When considering the registration of a business in Indiana, the state presents itself as an attractive location due to its competitive cost structure, which includes affordable real estate, utilities, and labor costs.
Types of Entities and Costs
Indiana offers various business structures to choose from, with common types being the Indiana Limited Liability Company (LLC) and Indiana Incorporated Company (Inc.). For individuals preferring simplicity, a sole proprietorship does not require registration with the Secretary of State.
- Indiana LLC Articles of Organization online filing fee: $95
- Indiana foreign LLC online registration fee: $105
- Optional LLC formation service fees: starting from $29
- Registered agent service: $50 to over $300 per year
Additional Requirements and Fees
To legally operate and engage in business activities, obtaining relevant licenses and permits from local, state, and federal governments is a must. Costs vary, but they are generally minimal.
Licenses and Permits
The Registered Retail Merchant Certificate is a common business license required for selling products or services, costing $25. Also, other business models such as retailers, restaurants, and contractors require specific licenses.
- Articles of Incorporation filing fee online: $95
- Articles of Incorporation filing fee by mail: $100
Ongoing Costs for LLCs
LLCs are expected to file a "Business Entity Report" every other year:
- Online filing fee: $32
- Paper filing fee: $50
Moreover, specialized taxes may be applicable if your business sells products or has employees.
Summary
In Indiana, starting an LLC or registering a foreign LLC has the following costs:
- Initial LLC online filing fee: $95
- Foreign LLC (online): $105
- Biennial "Business Entity Report" online fee: $32
When expanding an existing business into Indiana, registering as a foreign LLC online costs $105 or $125 by mail. It’s crucial to check for additional federal, state, and municipal permits or licenses which vary depending on the industry and area.