Indiana Corporation: Incorporate in Indiana

Indiana Corporation

There are various ways to form a Indiana corporation. You can choose between formal and informal association, however, it is advisable to opt for formally organizing. This gives greater benefits as well as safety from legal consequences. The Corporations Division in the Secretary of State of Indiana offers assistance to set up a business but it cannot offer legal advice. An attorney can be employed for any kind of legal advice or additional guidance.

Incorporate in Indiana

Some of the formal business structures you need to Incorporate in Indiana require the filing of organizational documents with the Corporations Division of the Secretary of State of Indiana are:

• Corporation - a legal entity formed by filing Articles of Incorporation with the Secretary of State of Indiana. It is owned by shareholders who have protection from the debts and liabilities of the corporation. With respect to taxation, the income earned is taxed twice at the corporate and employee or shareholder level.
• S-Corporation - is formed after filing Articles of Incorporation for the purposes of federal income tax benefit. In such a corporation, taxation is done only once (on the income of the employees or shareholders).
• LLC - combines the benefits of a corporation and its limited liability with the flexibility and single taxation of a general partnership. It comprises of members (instead of shareholders) who enjoy protection from the liabilities and debts of the LLC.

Incorporate in Indiana

Considering these benefits, Indiana attracts many types of businesses. The state of Indiana offers support financially for setting up a new business like guarantees to help small business owners to access finance from lenders. The corporation, once established, needs to be registered with the Indiana Department of Revenue.