CorpNet is here to help you when it comes to incorporating your business in Indiana. The authority for incorporating in Indiana falls under the Secretary of State, the Division of Corporations, Business, and Professional Licenses. This Division also maintains all corporate filings of record. The types of business structures available are Corporation, Nonprofit Corporation, Limited Liability Company, Limited Liability Partnership, and Limited Partnership.
Five basic steps to incorporate in Indiana
- Incorporation in Indiana begins with reserving an entity or corporate name. This important step prevents name duplication from occurring. To make sure that your name is available, you can use the free CorpNet company name search.Indiana corporate names have to be discernible from any other Indiana business entity or business name that is on record. The name must not contain any language that implies that the corporation serves any other purpose other than that it states in its articles of incorporation. If it is a bank holding company, it may contain the word “bank” or “banks” just as long as it does not imply that it is a trust or banking company.Applications to reserve a name are valid for 120 days. Name registration is automatic with the filing of the appropriate business incorporation or registration documents.
- Register your corporation (or LLC) with the Secretary of State. CorpNet offers filings of the Articles of Incorporation (for corporate structures) and for LLCs, Articles of Organization. Information that must be included in the articles of incorporation include the name of the corporation, the name and address of the registered agent, the names and addresses of all the incorporators, the number of shares of stocks the corporation can issue, and the signatures of all the incorporators.
- Entity professional licenses are required for corporations, LLCs, LLPs and LPs in certain professional categories. Ensure that you have the proper licenses before proceeding. These typically refer to those in real estate, leasing agents, and pawning.
- Have the first authorized meeting for the corporation or LLC and assume the Bylaws (corporations) or Operating Agreement (LLCs). This is a legal meeting and should be recorded as such. (See section below about officers and documentation.)
- Apply for a Federal Employer Identification Number (EIN) under the corporate name. You will also need to arrange for a bank account under this number for your accounting purposes. More than likely, your financial institution will want a copy of the EIN as well as a certificate of registration from the Secretary of State.
Foreign and Domestic Corporations
A foreign corporation is a corporation registered in another State that does business in Indiana. Foreign corporations are required to file an Application for Certificate of Authority.
Domestic corporations are those formed in Indiana itself. While there is no residency requirement for directors or officers of Indiana corporations, a registered agent (who can also be a corporate officer) must have a physical address in Indiana. An agent can be either an individual or a corporation authorized to transact business in Indiana. It is possible for law firms to act as registered agents. They have to be on hand to take phone calls and respond to legal matters, however. Employing a Registered Agent will guard your privacy and meet the requirements of incorporation in Indiana.
Officers and documents
Corporations in Indiana must have one or more directors whose names and addresses will appear in the articles of incorporation. Any change (address or ownership) must be filed with the State.
Corporate officer titles are determined by the bylaws or the board of directors. One person can hold multiple titles. The bylaws rule an Indiana corporation’s business and affairs. A corporation keeps its bylaws at its primary executive office and is not required to file them with the state. The board of directors of a corporation has the capacity to adopt, revise or rescind bylaws, unless the articles set aside this privilege for its shareholders.
Officers can be recorded in the bylaws or elected by the board. They may employ other officers, in observance of the bylaws. In addition, at least one officer is accountable for organizing and keeping the minutes of meetings and for verifying records.
A report must be filed with the Secretary of State every two years, except for the first calendar year. The report has to be filed every other year before the end of the month in which incorporation originally took place. The report must include the name of the incorporation, the principal address, the name and address of the registered agent, and the names and business addresses of the directors, secretary, and executive officer.
- Articles of Incorporation – This is the articles of incorporation filed with the Division of Corporations, Business and Professional Licenses used for for-profit domestic corporations.
- Application for Name Reservation – This form can be filed online. It results in a name search and reserves a business name for 120 days. There is also a version for foreign corporation name registration.
- Articles of Amendment – This is one of several forms used to amend or change information about the corporation. Including the number of shareholders and name.
- Registered Agent or Registered Agent Address Statement of Change – Because the registered agent is the point of contact between the corporate entity and the State of Indiana, any change must be documented with the State.
- Articles of Dissolution – Used to dissolve a corporation
Forming a corporation online
Incorporation in Indiana can seem like a daunting task. However, it is possible to incorporate online by filing the appropriate forms in the correct organization and this can be conducted distantly through our services. We provide complete packages to create your corporation or LLC in Indiana without omitting vital steps or documents.
Incorporating online is as straightforward as providing some upfront information and deciding which type of corporation fits your needs the best. CorpNet is available to help you start a corporation in Indiana and one-year Registered Agent Services comes standard in our packages. You will also discover that we include unlimited customer support.