This week, we’re taking a trip to “The Crossroads of America” or the state of Indiana, if you were able to easily recognize their state motto! As the 38th largest state by size and 16th most populous, Indiana is also slowly working its way up the ladder of hot states to do business in. ChiefExecutive.net ranked it as #5 in their 2013 state rankings with high marks in place for taxations and regulations, workforce quality, and the overall living environment. The cost of doing business within the state, as noted by Forbes, is 12.8% below the national average. Indiana has received high marks on Thumbtack.com for its licensing, ease of starting up a business, and overall friendliness.
If heading into the manufacturing industry sounds like it’s up your alley, or you just want to move toward a state that keeps it simple for start-ups, keep the following notes in mind when you’re ready to form an LLC or incorporate in Indiana!
For an LLC in Indiana…
- State filings are generally completed within just one day! (Though this is subject to change on occasion.)
- Business entity reports have to be filed by the LLC every two years.
- For all limited liability companies formed in Indiana, the name of the company must be followed by “Limited Liability Company,” “L.L.C.,” or “LLC.”
- Before the LLC is formed, the Articles of Organization must be sent in to the Secretary of State. These Articles must include the name of the LLC, how long the LLC will be formed for, the name and address of the Registered Agent in Indiana, and provide a statement on whom the management of the LLC will fall to, whether it’s a specific manager or the LLC’s members.
If you plan to incorporate in Indiana…
- Likewise with forming an LLC, your filings will be completed with the state in just one day.
- The state will not require a business address in Indiana.
- Director information is required on the Articles of Incorporation.
Feeling ready to join the start-up scene and incorporate in Indiana? Give call us at 1(877) 692-6772 or leave a comment below!