Forming an LLC in Indiana is just the start of the journey for your business. You’ll also need to register with the state, obtain business licenses and permits, hire employees, and manage other aspects of your business. To save time and money, consider hiring a professional registered agent service to handle all your business compliance needs.
A business structure like an LLC offers tax benefits and liability protections for its owners. It’s easy to set up and requires less paperwork than other business structures. And while the State of Indiana doesn’t require an operating agreement, it’s a good idea to create one as it will detail how you intend to run your LLC.
What is an LLC in Indiana?
An LLC is a limited liability company that is taxed as a sole proprietorship if it has only one owner, or it is taxed as a partnership if there are multiple owners. An LLC can be managed by its members or by a manager. The owner can be any person or corporation.
If the LLC has more than one owner, it must file articles of organization to establish itself as a multimember LLC. It’s also important to have an operating agreement, which is not required by law but will specify how the LLC will be run, including how decisions will be made, how profits will be distributed, and what happens if a member leaves the business. It’s also a good idea for an operating agreement to address how the LLC will be maintained, such as insurance coverage.