A. File Artcles of incorporation for Indiana Corporation with the Secretary of State
After choosing which entity is right for you, your next step is to go to the Indiana Secretary of State's website and download the appropriate incorporation form that may be available. Or, if you don't want to do the work yourself, we can help you incorporate a business in Indiana. Click here for a free quote on our Indiana business incorporation services.
B. S Corporation Filings for Your New Indiana Corporation
1. Federal S-Corporation Election Form
If you have Clickandinc.com incorporate a business for you in Indiana, and you choose to be treated as an s-corporation for federal income tax purposes, we can draft that form for you (IRS form 2553). If you choose to draft it on your own, you can download it from the IRS website.
NOTE: You have 75 days from the date you incorporate a business in Indiana to file your form 2553 with the IRS. If you fail to file in that time period, you will not be granted s-corporation status for the year in which you incorporate.
2. Indiana S-Corporation Election form
Indiana does not require s-corporations to file a seperate s-corporation election form with the state.
C. Get Your Indiana Tax ID Number and Or Other State Required Documentation
Have your Federal Tax ID Number (EIN) on hand; most states require it on their state tax ID number forms and other forms that you may need to complete after you incorporate a business in Indiana.
Form BT-1, Business Tax Application1.
Once you have your Federal ID Number (EIN), you will need to file Form BT-1. This form is used to register with the Indiana Department of Revenue for Sales Tax, Withholding Tax, Out-of-State Use Tax, Food & Beverage Tax, Motor Vehicle Excise Tax, and Prepaid Sales Tax on Gasoline, or a combination of these taxes and other state tax obligations that may occur in the future. Again, you can download Form BT-1 at http://www.in.gov/dor/taxforms/pdfs/bt-1.pdf .
2. New Hire Reporting
You are required under Indiana Statute IC22.4.1-4-2 to report all new and rehired employees within 20 days of their hiring to the Indiana New Hire Reporting Center. Failure to report a new employee could result in a fine of $500. For information, go to www.in-newhire.com or call 866-879-0198 or 317-612-3028.
3. State Corporate Income Tax
Your business entity is subject to Indiana’s corporate income tax. The Department of Revenue will mail the form directly to your entity prior to its due date. If you have questions, call the Department of Revenue at 317-232-2189 or log on to www.state.in.us/dor.
4. Biennial Report
Every Indiana corporation and LLC will file a biennial report once every two years due in the anniversary month in which the entity was formed. If you formed your entity in an odd year, you will file the report in the next odd year. The same is true for even-year formations.
Surely, the list above is not everything you will need to do once you incorporate a business in Indiana. You should always check with your accountant or attorney in order to make sure you are compliant with all state laws. Clickandinc.com is not a law firm and nothing on this page can be considered legal advice on which you can rely.
If you’d like Clickandinc.com to help you incorporate a business in Indiana, we’d love to help.
