Indiana corporations: How to form and maintain your Indiana corporation

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Updated December 20, 2022

Should you form your corporation in Indiana? We've collected the relevant information that will help you make this decision.

Pros

  • Tax rate of 6.25%

  • Home to one of the top 20 metro areas in US

  • Qualified workforce

  • Low cost of living

Cons

  • Collects property taxes at both state and local levels

Cost of doing business

  • $90 filing fee / $30 periodic report

Privacy

  • Owner disclosure required in Articles of Incorporation

Forming your corporation in Indiana

The name In order to communicate to the public that your new business is incorporated, its official name will need to end with one of the following signifiers (or a relevant abbreviation): “incorporated”, “Company”, or “corporation.” In addition, it is required that the name of your business is not intentionally misleading to consumers, for any reason. Your company’s new name must also be completely unique, and not deceptively similar to any other organizations name or trademarks. Do a FREE name search now.

Board of directors requirements You will need to form an official board of directors when incorporating in Indiana. Here are the states explicit regulations regarding these directors:

  • Required number of directors

    Indiana corporations must have at least one director listed in their incorporation documents.

  • Age restrictions

    Directors of corporations located in Indiana can be of any age.

  • Residence restrictions

    There are no residence restrictions imposed on the directors of C corporations in Indiana. However, S corporations are only allowed to have directors located in the United States.

  • What information needs to be included in the Articles of Incorporation?

    Indiana does require the names or addresses of directors to be disclosed in incorporation documents.

Requirements for the Articles of Incorporation

The Articles of Incorporation is a document that must be filed during the incorporation process in every state. Here is the information that must be included in this document when filing in Indiana:

Stock information Indiana requires the number of initial shares outstanding, and their par value, to be disclosed during the incorporation process. The number of outstanding shares does not affect initial state filing fees.

Officer information The state of Indiana does not require officer information to be disclosed during the filing process.

Registered agent information All Indiana corporations must have a registered agent on file, and submit their name and address (which cannot be a PO box). This agent will be required to be accessible during standard business hours, and act as the state’s point of contact with the company. Learn more about registered agents.

If your business is a professional practice Professional service corporations are permitted to form under the professional corporation (PC) structure.

Corporate record keeping requirements

Corporations are required to keep formal documentation regarding several of their operations. These are the explicit record keeping formalities required by Indiana:

  • A copy of the Articles of Incorporation, bylaws, and their amendments

  • Records that detail the owners and class of all outstanding stock shares

  • An in-depth documentation of stock related resolutions

  • The business addresses and names of all officers and directors

  • Meeting minutes for all shareholder and director meetings.

  • A copy of all written communications with shareholders within the previous three years

  • A copy of the corporation’s most recent annual report

  • Formal documentation of all director and shareholder decisions, regardless of if they were made during a meeting or not.

Indiana corporate taxation and fee requirements

There are several tax and fee requirements that must be addressed by corporations in Indiana. They are as follows:

Taxation All states have complex taxation requirements. For more information regarding taxes in Indiana, it is advised that you visit the state’s official business related website. 

Annual report requirements Corporations in Indiana are required to file a bi-annual report every two years during the company’s anniversary month. There is a $30 fee associated with this process. Learn more about annual reports.

Tax identification numbers Indiana requires an EIN (employee identification number) for all corporations that will have employees, and most banks will require one to open accounts. Indiana does require corporations to obtain state tax ID numbers. Learn more about EINs.

Business license requirements 

The business licenses and permits required in Indiana vary wildly depending on the county or municipality in which your new corporation is located. If you would like to see more in-depth information on licenses and permits, please feel free to visit the content in our learning library that covers business licenses and permits.

S corporation election Indiana does not require a state-level S corp election, as they recognize any elections held at the federal level.

Need an Indiana LLC instead? Click here.

Originally published on December 20, 2022, and last edited on December 20, 2022.

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Frequently Asked Questions

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How much does it cost to form a Corporation or LLC?

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Orders are processed as they are received. However, clients that select Express Processing or Same Day Processing will have their orders processed before Standard Processing orders.

When will my order be processed?

Orders are processed as they are received. However, clients that select Express Processing or Same Day Processing will have their orders processed before Standard Processing orders.

How long does the incorporation process take?

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How do I open a company bank account?

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What is an Operating Agreement and do I need one?

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