Price to Form LLC in Indiana: Various Costs Revealed for Indiana LLC
Depending on the specifications of your Indiana LLC, you’ll be needed to pay various fees and meet numerous filing obligations as a business owner.
- Start an IN LLC for The Best Price (With the Help of Professionals)
- Forming an LLC in Indiana: Various Costs Table
- Total Costs for Indiana LLC Breakdown & Best Options
- Other Fees for Forming an Indiana LLC
- How to Form an Indiana LLC on Your Own?
- Report on the Indiana LLC Business Entity
- How Can I Obtain an Indiana Certificate of Good Standing?
- Post-Formation Steps
- FAQ: Indiana LLC Costs
- Get Professional Help in Forming an LLC in Indiana For The Best Price
- In Conclusion
Forming an LLC in Indiana: Various Costs Table
|Filing an Indiana LLC online||$95|
|Biennial Report Fee||$31|
|Registered Agent||$39 on its 1st yr.|
|Forming a Foreign LLC||$105 (online) / $125 (mail)|
|Reservation of LLC Name||$10|
|Filling a DBA Name||$20 (online) / $30 (mail)|
|Copies of Certified Documents||$15 + $1/pg.|
|Existence (Good Standing) Certificate||$26 (online) / $30 (mail)|
The $95 price to submit your LLC’s Articles of Organization online with the Indiana Secretary of State is the most expensive part of incorporating an LLC.
LLCs must make a biannual report with the Secretary of State in Indiana.
You can pay $31 online or $50 by mail to submit this form through the INBiz website. Every other year, at the end of the month in which the LLC was founded, it is due.
You may be your own registered agent in Indiana, but employing a registered agent service keeps your business compliant and informs you of critical filing dates so you don’t miss them.
The first year of registered agent costs is $39 USD.
If you currently have an LLC established in another state and want to extend your business into Indiana, you’ll need to register it as a foreign LLC.
An Indiana foreign LLC registration costs $105 online or $125 by mail. A Foreign Registration Statement is required to register a foreign LLC in Indiana (Form 56369).
Your business may require federal, state, and municipal permits/licenses to lawfully operate in Indiana, depending on your industry and geographic area. Whether you create an LLC or another sort of business structure, this is true.
Total Costs for Indiana LLC Breakdown & Best Options
|Who forms the LLC?||Total fees|
|You form the LLC in Indiana yourself||$151+ ($95 Articles of Organization + $30 LLC Name +$26 Good Standing Certificate)|
|by using ZenBusiness||$49+|
|by using Northwest Registered Agent||$39/mo|
|see our other top-rated LLC service providers||varies|
Other Fees for Forming an Indiana LLC
There are additional costs involved with forming an LLC:
Fill out the LLC Name Reservation Form and pay the $10 filing fee to reserve your name before forming your LLC.
To create a name different than your official LLC business name, file a Certification of Assumed Business Name and pay the $20 online filing fee. This can also be filed by mail for a charge of $30.
You may get certified copies of your Indiana business records from the Secretary of State for $15 + $1 per page.
This document, also known as an Indiana certificate of good standing, can be obtained by contacting the Secretary of State and paying the $26 online or $30 postal charge. Banks and financial institutions frequently demand proof of existence.
How to Form an Indiana LLC on Your Own?
To incorporate an Indiana LLC, you must submit Articles of Organization with the Indiana Secretary of State Business Services Division, which costs between $95 and $100. You have the option of applying online or by mail. The Articles of Organization are the legal documents that establish your Indiana LLC.
In Indiana, there are five basic steps to forming an LLC.
Step 1: Choose a name for your Indiana LLC
Step 2: Choose a Registered Agent
Step 3: File the Articles of Organization
Step 4: Create an Operating Agreement
Step 5: Obtain an Employer Identification Number
Step 1: Choose a Name For Your Indiana LLC (Price: ~$10-$20)
When naming your Indiana LLC, make sure it meets the following criteria:
- Is legal to use in the state of Indiana.
- Meets Indiana’s naming standards
- Is a web domain available?
We suggest looking online to see whether your company name is accessible as a web domain. Even if you have no plans to construct a company website right now, you may wish to purchase the URL to prevent others from doing so.
The first and most significant step in forming an LLC is deciding on a name. Make sure your name meets Indiana’s naming regulations and is easily searched by potential customers.
1. Follow these naming conventions:
- The word “limited liability company” or one of its acronyms must be in your name (LLC or L.L.C.).
- Your LLC’s name cannot contain words that may cause confusion with a government agency (FBI, Treasury, State Department, etc.).
- Restricted terms (e.g., bank, attorney, university) may necessitate additional documentation and the inclusion of a licensed professional in your LLC, such as a doctor or lawyer.
2. Is it possible to get the name in Indiana? Do a name search on the State of Indiana website to make sure the name you choose isn’t already used.
3. Is the web address available? We suggest looking online to see whether your company name is accessible as a web domain. Even if you don’t intend to create a company website right now, you may wish to purchase the URL to prevent others from doing so.
Step 2: Choose a Registered Agent (Price: $0-$190/yr)
A registered agent is required for all Indiana LLCs. The principal point of contact for your LLC with the state is a registered agent. They are also in charge of accepting service of process in the event that your company-issued.
Your registered agent in Indiana must:
- You must be at least 18 years old.
- Have an Indiana physical address
- Be ready to accept service of process during regular business hours.
In Indiana, you must check a box on your articles of incorporation saying that the registered agent has agreed to be appointed.
What is the role of a Registered Agent? A registered agent is an individual or corporate organization charged with receiving vital legal papers on your behalf. Consider your registered agent to be your company’s point of contact with the government.
Who is eligible to serve as a Registered Agent? A Registered Agent must be an Indiana resident or an organization allowed to conduct business in Indiana, such as a registered agent service. You have the option of electing someone from your organization, including yourself.
Am I allowed to act as my own Registered Agent? Yes, any business owner or employee who is above the age of 18 and has a street address in Indiana can serve as the company’s registered agent in Indiana.You might also elect a member of your LLC or a friend you trust, as long as they match these standards as well. Many firms, however, choose to employ a registered agent service.
Is it worthwhile to use a registered agent? Using a professional Registered Agent service to manage your LLC’s federal filings is a cost-effective option. The benefits of utilizing a professional service far surpass the annual expenditures for most firms.
Step 3: File the Articles of Organization (Cost: $95)
The Indiana Articles of Organization is a document that is submitted to the Indiana Secretary of State in order to incorporate a limited liability company (LLC). The cost of submitting the Articles of Organization online is $95. This may be sent by mail as well.
OPTION 1: File Online with Indiana INBiz
– OR –
OPTION 2: File Articles of Organization by Mail
State Filing Cost: $95 online, $100 by mail, payable to the Secretary of State
Secretary of State Business Services Division
302 West Washington Street
Indianapolis, IN 46204
What is the difference between a domestic and a foreign Indiana LLC? When an LLC does business in the state where it was founded, it is referred to as a “domestic LLC.” Normally, when we talk about an LLC, we’re talking about a domestic one. When an existing LLC wants to expand its operations to another state, it must incorporate a foreign LLC.
Step 4: Create an Operating Agreement (Cost: FREE)
Although an operating agreement is not necessary for Indiana LLCs, it is recommended.
What is the definition of an operating agreement? An operating agreement is a legal document that spells out an LLC’s ownership and running processes.
Your operating agreement should include all of the items below, whether you’re creating a single-member or multi-member LLC. Some of these provisions will have little impact on the day-to-day operations of a single-member LLC, but they must be included for legal reasons.
- Organization: When the LLC was legally founded, who its members are, and how ownership is distributed are all things to consider. Multi-member LLCs might have an equal ownership structure or allocate different “units” of ownership to different members.
- Management and Voting: Determine whether the LLC will be governed by its members or by appointed management, as well as how members will vote on business concerns. Each member usually has one vote, but you could want to give certain members greater authority than others.
- Capital Contributions: The amount of money invested in the firm by each member. This is also the time plan how you can raise extra cash in the This is also the time to plan how you can raise extra cash in the future.
- Distributions: Profits and losses will be distributed among the members according to the distributions. The most typical method is to equitably divide profits. If you want them distributed differently, your operating agreement should specify that.
- Changes to the Membership Structure: How will positions and ownership be transferred if a member departs the organization? The method for buying out and/or replacing a member should be detailed in the LLC’s governing agreement.
- Dissolution: If all the members of your LLC decide that you no longer want to do business, you should dissolve it formally. The procedure of hypothetically dissolving your company is a crucial part of your operating agreement.
What are the benefits of operating agreements? A detailed operating agreement guarantees that all firm owners are on the same page and eliminates the possibility of future disagreement.
Is it necessary for me to register my operating agreement with the state? No. The operating agreement is a private document that you should save for future reference. Many states, however, mandate that LLCs have an operating agreement in place.
Step 5: Obtain an Employer Identification Number (Cost: FREE)
What is an EIN number? The Internal Revenue Service (IRS) issues an EIN, or Employer Identification Number, to identify a firm for tax reporting reasons. An EIN is a company’s version of a Social Security number (SSN).
An EIN is sometimes referred to as a Federal Employer Identification Number (FEIN) or Federal Tax Identification Number (FTIN).
What is the purpose of having an EIN? For the following, an EIN number is required:
- Opening a bank account for your business
- Managing and filing federal and state taxes
- Employee recruitment
After founding your firm, you may obtain an EIN for free through the IRS website.
What if my single proprietorship already has an EIN? When changing to an LLC, the IRS requires sole proprietorships to get a new EIN.
Where can I obtain an EIN? The IRS will provide you with an EIN for free. Obtaining an EIN is a simple procedure that may be completed online or through the mail.
INTERNATIONAL EIN APPLICANTS: You do not need a Social Security number to obtain an EIN.
Option 1: Request an EIN from the IRS
– OR –
Option 2: Apply for an EIN by Mail or Fax
Internal Revenue Service
Attn: EIN Operation
Cincinnati, OH 45999
Fax: (855) 641-6935
If I don’t have a Social Security number, how can I acquire an EIN? An EIN does not require a social security number. You can just leave section 7b blank on the IRS Form SS-4. Then, to finish your application, call the IRS at (267) 941-1099. Find out more about applying as an international student here.
What is the best tax structure for my Indiana LLC? When you apply for an EIN, you will be told of the many tax categorization options accessible to you. The default tax status is chosen by most LLCs. However, some LLCs can reduce their federal tax obligation by choosing the S corporation (S corp) status.
Is an EIN required for my LLC? An EIN is required for an LLC with employees or more than one member. The IRS requires you to do so.
Report on the Indiana LLC Business Entity
To continue in good standing and prevent costly fines or penalties, you must stay on top of your state’s filing deadlines after forming your Indiana LLC.
What is the purpose of a Business Entity Report?
A business entity report (also known as a biannual report) is a routine document that your LLC must submit every two years in Indiana to update your company’s information, which includes:
- Address of main office
- Name and address of the registered agent
- Names and addresses of those in charge (i.e., members, managers, directors, or officers)
This report is intended to keep your company records up to date with the State of Indiana. This makes it possible for creditors and other interested parties to find up your company address in the event that they need to contact you. This information is used by the government to trace the payment of your LLC state taxes.
What Is the Process for Filing a Business Entity Report?
The Secretary of State can receive your Indiana LLC business entity report. To file online, you must first register an account with the INBiz site. Filing an Indiana Business Entity Report:
OPTION 1: File Online with Indiana INBiz
– OR –
OPTION 2: File Form 48725 by Mail
Fee: $32 online, $50 by mail
302 W. Washington St.
Indianapolis, IN 46204
Due Date: Indiana LLC business entity reports are due every two years on the anniversary month of your LLC (i.e., the month you initially registered the LLC in).
Late Filings: Failure to file a business entity report may result in the dissolution of your Indiana LLC, even if there are no late filing costs.
Do I Need to Hire a Registered Agent?
A registered agent is a person or corporation designated by your firm to receive and submit official documents on your behalf. You may ensure that your LLC’s reports are always filed on time to the relevant government agency by employing a registered agent service. The following are the three primary benefits of employing a registered agent service for your LLC:
- If an Indiana LLC fails to file a business entity report, the Secretary of State has the authority to dissolve it. A registered agent service will remind you when reports are due, and for an extra cost, they may also file the paperwork for you.
- Gain flexibility: A registered agent service may receive and submit paperwork for your LLC during regular business hours, allowing you to avoid being on call from 9 a.m. to 5 p.m. to 5 p.m. once a week In states where you don’t already have a company presence, you can also employ a registered agent service to incorporate an LLC.
- Maintain your privacy by using a registered agent service to keep your personal address off of public records. Furthermore, if your LLC is sued, the lawsuit will be served at the registered agent’s address rather than your company address.
How Can I Obtain an Indiana Certificate of Good Standing?
The Secretary of State can provide you with your certificate of good standing, often known as a certificate of existence in Indiana.
To obtain your certificate of good standing, follow these two steps:
- Maintain your LLC’s compliance.
- Order your good standing certificate today.
Step 1. Ensure That Your Indiana Company Is Compliant
To be eligible for an Indiana certificate of existence, your company must meet the following requirements:
Permits and Licenses
You must follow federal, state, and local licensing rules to operate your business in Indiana. This can include things like construction permits and health permits.
The Indiana Professional Licensing Agency website has further information on state licensing requirements.
State Income Taxes
You will need to register for several types of Indiana state taxes depending on your company activities. Sales tax, withholding tax, and Unemployment Insurance (UI) tax are all examples of this.
A biennial report is required of all Indiana LLCs and corporations. This report confirms the company’s fundamental facts, such as its registered agent and major office address.
The report can be submitted online or by mail to the Secretary of State. Every other year, at the end of the month in which the company was founded, it is due. The online cost is $31 and the postal fee is $50.
Step 2. Order Your Indiana Good Standing Certificate Today!
You can seek an Indiana certificate of good standing from the Secretary of State after your firm is in compliance with the state. This may be done either online or in the mail. Ordering an Indiana Certificate of Good Standing:
OPTION 1: Order Online With Indiana INBiz
– OR –
OPTION 2: Order by Mail
Filing Cost: $26 online, $30 by mail
Indiana Secretary of State
Attn: Certification Clerk
203 W. Washington St., Room E-018
Indianapolis, IN 46204
Frequently Asked Questions About Certificate of Good Standing
Do I Need an Indiana Certificate of Good Standing?
While a certificate of good standing isn’t required to operate a business in Indiana, there are a few situations where you could need one. Among them are:
- Purchasing commercial insurance
- Obtaining a business loan
- Getting a business bank account
- Getting a business license in another state
When do you need a good standing certificate?
We recommend receiving a certificate of good standing as soon as possible because many banks and insurance firms will require one in order to do business.
What is the duration of the certificate of good standing?
There is no defined expiration date for an Indiana certificate of existence. Requesters, such as banks, creditors, and foreign business governments, may have their own rules for determining the legitimacy of a certificate.
What does it mean to have a certificate of good standing?
The state of Indiana acknowledges your business as operational and compliant if you get an Indiana certificate of existence.
When is a certificate of good standing required?
In order to do business outside of Indiana, acquire business loans, create business bank accounts, or purchase company insurance, Indiana firms frequently require a certificate of existence.
Who is necessary to obtain a good standing certificate?
A certificate of existence is not required by law for enterprises in Indiana. If you decide to do business outside of Indiana or open a business bank account, your company may need one.
What is the location of a certificate of good standing?
Your Indiana certificate of existence will be ready to print immediately after you place your order online. The Secretary of State will mail you a certificate if you purchase one via mail.
Requirement for Biennial Reporting
The Indiana Secretary of State’s business services division requires every Indiana LLC (including international LLCs doing business in Indiana) to file a biannual Business Entity Report. The biannual report includes basic information about your LLC, such as its name, registration date, and registered agent.
You must submit your report every other year in the month of your company’s founding anniversary. For example, if you formed your LLC on August 13, 2020, you must file your biennial report every even year in August (2022, 2024, etc.). In the same way, if you formed a foreign LLC with the secretary of state’s business services division in 2020, your biannual report will be required in 2022, 2024, and so on. Filing fees vary depending on whether you file online or by mail.
Open a Bank Account After Getting an EIN
You’ll be able to create a business bank account once you’ve obtained an EIN. Separate accounts for your company and personal banking are essential for organizing your funds throughout tax season. It also prevents monies from being mixed up. Not only may commingling cash make taxes more complex, but it can also be used against you in court if someone challenges whether you and your LLC are genuinely different businesses (i.e., they want to sue you for not just your business assets, but also your personal assets).
FAQ: Indiana LLC Costs
Is it necessary to pay an annual fee for an Indiana LLC?
Every other year, Indiana LLCs must pay a $31 biannual report fee.
What is the lowest cost of forming an Indiana LLC?
In Indiana, the cheapest fee for forming an LLC is $100, which includes the cost of submitting your Articles of Organization. All additional costs associated with forming an Indiana LLC are optional.
What is the cost of forming a corporation in Indiana?
In many states, incorporating a firm as a corporation is more expensive than forming an LLC. The Articles of Incorporation (the document used to form a company) in Indiana, on the other hand, have the same $100 filing fee as the Articles of Organization.
How long does it take to incorporate an Indiana limited liability company?
Business filings are typically processed within three business days of receipt by the Secretary of State’s office. If you’re in a hurry, Indiana offers $50 expedited processing.
In Indiana, how much does annual LLC maintenance cost?
The specific ongoing upkeep for your LLC will vary based on the licenses necessary for your firm; each sector has various yearly renewal requirements and charges. Every LLC, however, will be required to spend at least $32 to file the Annual Report online.
Where can I get additional information regarding Indiana LLC expenses?
On this website, the Indiana Secretary of State gives a thorough list of all conceivable business forms (together with their associated costs).
In today’s Indiana, how many small enterprises are there?
In Indiana, there are now approximately 529,000 small companies functioning, accounting for 99.6% of all firms. A total of 44 percent of Indiana’s workforce works for one of these companies.
Is an LLC really necessary?
Limited liability protection is provided by an LLC. In the case of a company failure, such as a lawsuit or unpaid debt, an LLC protects your personal assets.
We recommend that any small firm with even the tiniest risk or responsibility create an LLC.
What is the most cost-effective approach to forming an LLC?
By completing the formation procedure yourself, creating your own operating agreement, acting as your own registered agent, and obtaining your own EIN, you may save money on an LLC.
Is it possible for me to pay myself a salary from my LLC?
You can pay yourself a salary from your LLC, but if your LLC is taxed in the IRS’s default manner, it would be referred to as a draw or distribution.
Is an S corporation preferable to an LLC?
The IRS tax status of S corporation (S corp) is not a type of commercial entity. An LLC can be taxed either as a regular corporation or as an S corporation. Being taxed as an S corporation might make a lot of sense for some firms.
Which is preferable: a single proprietorship or an LLC?
Because sole proprietorships do not provide liability protection, they are only suitable for enterprises with a limited risk of liability.
Get Professional Help in Forming an LLC in Indiana For The Best Price
It can be difficult and time-consuming to form an Indiana LLC. So it might be beneficial to have some assistance, and we’ve compiled a list of two of the top LLC creation services available, rated and ranked by us.
#1 – ZenBusiness can help you form an LLC in Indiana
ZenBusiness provides LLC creation services at a low cost and with a number of useful features. Most LLCs will benefit from two of these aspects in particular. All of ZenBusiness’s products include a year of complimentary registered agent service. With their Pro and Premium Packages, they offer to ensure worry-free compliance. ZenBusiness will file your yearly report and notify you if there is anything further you need to do to be in compliance with the state under this assurance. For $119 per year, those with the basic package can purchase worry-free compliance.
ZenBusiness will help you form an LLC in Indiana for $95. They have a customer satisfaction rating of 98 percent and over 4500 verified reviews.
Review count: 4500+
Form an LLC today with ZenBusiness for only $49. They Have 98% customer satisfaction rating and over 4500+ verified reviews.
#2 – Create an LLC in Indiana using Northwest Registered Agent
With decades of expertise, Northwest Registered Agent is an exceptional LLC creation service. They deliver excellent, well-informed customer service. Their biggest benefit, though, is the seclusion they provide. They don’t outsource any of their services to third parties, don’t sell your information, and even build their own code.
Northwest can help you form an LLC in Indiana right now. They have a customer satisfaction rating of 98 percent and over 4150 verified reviews. They’ll come with a complimentary year of registered agent service!
From $35+State Fees
Review count: 4150+
Form an LLC today with Nortwest. They have 98% customer satisfaction rating and over 4150+ verified reviews. They will include 1 year of free registered agent service!
In this post, we’ve covered a variety of Indiana LLC fees and costs, some of which will apply to all LLCs in the state. As you can see, there are a number of costs that only apply to particular LLCs. The most essential message is that you should not try to discover ways to avoid paying these fees by looking for loopholes, since the repercussions might be severe and readily avoided.
In addition, starting an Indiana LLC isn’t as expensive as it seems.
The total cost shouldn’t exceed:
- $49 if you’re forming a basic LLC with all the basic options with ZenBusiness.
- $39/mo if you’re forming a top-notch LLC with Northwest.
- ~$151 if you’re forming an LLC yourself.
However, there are still some methods to save money on your LLC formation and maintenance expenditures, such as using a low-cost business formation provider to handle your Articles of Organization filing and serve as your registered agent.