Forming Your Own LLC in Indiana

Are you considering starting a business in Indiana? Forming a Limited Liability Company (“LLC”) can be an excellent choice for entrepreneurs in the Hoosier State. LLCs offer liability protection and tax advantages, making them an attractive option for small business owners. Let’s walk through the key steps to form your own LLC in Indiana.

Choose a Business Name

• First, select a unique name for your LLC that complies with Indiana’s naming rules. Your business name must include “LLC,” “L.L.C.,” or “Limited Liability Company.” Conduct a business name search through the Indiana Secretary of State website to ensure your chosen name is available.

File Articles of Organization

• To officially establish your LLC, you’ll need to file Articles of Organization with the Indiana Secretary of State. This can be done online or by mail, with a filing fee of $98 for online submissions and $100 for mail filings. The Articles of Organization should include:
• Your LLC’s name
• A business email address
• Your LLC’s principal office address
• Registered agent information

Appoint a Registered Agent

• Every Indiana LLC must have a registered agent – an individual or entity authorized to receive legal documents on behalf of your business. You can act as your own registered agent or hire a professional service.

Create an Operating Agreement

• While not legally required in Indiana, creating an operating agreement is highly recommended, even for single-member LLCs. This document outlines how your LLC will be run, including:
• Ownership structure
• Management responsibilities
• Profit distribution
• Voting rights
• Dissolution procedures.[1]
• An operating agreement can be crucial for proving ownership when opening a business bank account and overriding Indiana’s default LLC laws.

Obtain an EIN

• Apply for an Employer Identification Number (“EIN”) from the IRS. This is necessary for tax purposes and opening a business bank account.

Comply with State Requirements

• To maintain your LLC status in Indiana, you must file a business entity report every two years. Additionally, research any specific permits or licenses your business may need based on your industry and location.

Open a Business Bank Account

• After your LLC is approved, open a dedicated business bank account and make initial capital contributions. This helps maintain the separation between personal and business finances.
• Forming an LLC in Indiana is a straightforward process that can provide significant benefits for your business. By following these steps and considering professional guidance when needed, you’ll be well on your way to establishing your own Indiana LLC.
• Remember, while this guide provides a general overview, it’s always wise to consult with a legal or business professional to ensure you’re meeting all requirements specific to your situation and industry.

If you have any questions relating to LLCs and the formation process, please contact McNeelyLaw LLP by calling (317) 825-5110.

This McNeelyLaw LLP publication should not be construed as legal advice or legal opinion of any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own lawyer on any specific legal questions you may have concerning your situation.