Indiana is a great place to start a business, thanks to its low corporate taxes and reasonable regulatory requirements. However, there are a few things you need to know before you launch your business. The first is to conduct a business search. This will ensure that your business name is available and that it doesn’t overlap with any other registered names.
You can make a business search on the Indiana Secretary of State website. You can enter the business name or the business ID to find out whether it’s available. You can also filter your results by filing date, location, registered agent, and principal name. Punctuation is not considered when performing the search, so it’s best to use just the first few letters of your preferred business name.
The next step is to find a good Registered Agent. This is someone who will accept formal documents and correspondence for the LLC. Choosing a professional Registered Agent is best because it will save you time and money in the long run. Many professional filing services offer this service as part of their package deals. The Indiana Secretary of State’s website has more information about this process.
Once you’ve found a suitable business name, you’ll need to reserve it with the Secretary of State. To do this, you’ll need a unique address. This can be your home address if you’re running a home-based business, or it can be a physical office building. You can also opt for a virtual mailbox, such as Incfile, which will receive your mail and scan it for you. You’ll then be able to access your mail online. This is an excellent option if you want to avoid having your private information published on public records.
What to Consider When Starting a Business In Indiana?
When starting a business in Indiana, it is important to select a unique name that does not overlap with any existing registered businesses. The Secretary of State’s website keeps a public database that can be used to search for business names. The information available in this database includes the name, business type, creation date, address, registered agent, and incorporator. It also shows the status of the business, including if it is active or dissolved.
The business entity type you choose for your company will affect its taxation and legal implications. There are several different types of business entities in Indiana, such as sole proprietorships, limited liability companies, general partnerships, and corporations. A limited liability company is a popular choice for small businesses because it protects the owners’ personal assets from business liabilities. It does not require registration with the Indiana Secretary of State or an EIN, but it should file a Certificate of Assumed Business Name and obtain insurance.
Most states require businesses to file an annual report, which is a way for the state to check in on a company. This report can be filed online or by mail, but it must be submitted by the company’s anniversary month. Failure to submit this report can result in penalties, and consecutive late filings may lead to the dissolution of the company.