Indiana (United States of America)

The government of Indiana is located in Indianapolis, the capital of the state. The government is established and regulated by the Constitution of Indiana. Three branches of the government of Indiana: Executive (The Governor of Indiana), Legislative (The Indiana General Assembly including an upper house, the Indiana Senate and a lower house, the Indiana House of Representatives ), Judicial (The Indiana Supreme Court, the court oversees the lower courts and commissions).

Indiana has a diverse economy, which has the total Gross State Product was $359.12 billion in 2017. The state has a low rate of the unemployment rate (3.4 percent), lower than the national average.

The energy sector, manufacturing, pharmaceuticals, and medical devices, mining, transportation, and agriculture are the biggest industries in Indiana.

Currency:

United States Dollar (USD)

Exchange Control:

Indiana does not separately impose exchange control or currency regulations.

Financial services industry:

The financial services industry has become a key component of Indiana’s economic strength and growth. The state has been home to many banks and financial services companies for years due to tax regulation on interest rates.

Private citizens can bring antitrust lawsuits in Indiana. The state has strict regulations about false advertising and other deceptive trade practices.

The business laws of Indiana are familiar to many lawyers both in the United States and internationally.

Type of Company/Corporation:

One IBC provides incorporation in Indiana service with the common type Limited Liability Company (LLC) and Corporation (C-Corp or S-Corp).

Business Restriction:

The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.

Company Name Restriction:

The name of each limited liability company and corporation cannot be the same as or deceptively similar to an existing limited liability company or corporate name.

The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";

• May contain the name of a member or manager;
• Must be such as to distinguish it upon the records in the office of the Secretary of State from the name on such records of any corporation, partnership, limited partnership, statutory trust or limited liability company reserved, registered, formed or organized under the laws of the State of California or qualified to do business.
• May contain the following words: "Company," "Association," "Club," "Foundation," "Fund," "Institute," "Society," "Union," "Syndicate," "Limited" or "Trust" (or abbreviations of like import).

Company Information privacy:

Personal information such as telephone numbers, email addresses, and social security numbers of business entity members (e.g., officers, directors, managers, members, partners, agents, and employees) is not made of a record with the Indiana Secretary of State.

Just 4 simple steps are given to start a business in Indiana:

• Step 1: Select basic Resident/Founder nationality information and other additional services that you want (if any).
• Step 2: Register or log in and fill in the company names and director/ shareholder(s) and fill in the billing address and special request (if any).
• Step 3: Choose your payment method (We accept payment by Credit/Debit Card, PayPal, or Wire Transfer).
• Step 4: You will receive soft copies of necessary documents including Certificate of Incorporation, Business Registration, Memorandum and Articles of Association, etc. Then, your new company in California is ready to do business. You can bring the documents in the company kit to open a corporate bank account or we can help you with our long experience of Banking support service.

*These documents are required to incorporate a company in Indiana:

• Passport of each shareholder/beneficial owner and director;
• Proof of residential address of each director and shareholder (Must be in English or certified translation version);
• The proposed company names;
• The issued share capital and par value of shares.

Read more:

How to start a business in Indiana, USA

Share Capital:

Generally, most states in the United States do not impose minimum or maximum limits on share capital.

Director:

Only one director is required

Shareholder:

Only one shareholder is required

Indiana company taxation:

Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.

• Us Federal Taxation: US Limited Liability companies structured for partnership tax treatment with non-resident members and which conduct no business in the US and which have no US-source income are not subject to US federal income tax and are not required to file a US income tax return.
• State Taxation: US limited liability companies that conduct no business in the recommended states of formation with non-resident members are generally not subject to state income tax and are not required to file a state income tax return

Financial statement

There is generally no requirement to file financial statements with the state of formation unless the corporation owns assets within that state or has conducted business within that state.

Local Agent:

All domestic and foreign corporations, nonprofit corporations, limited liabilities companies (LLCs), etc. must have a registered agent and registered address at all times.

Double Taxation Agreements:

Indiana, as a state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimized by providing credits against Indiana taxation for taxes paid in other states.

In the case of corporate taxpayers, double taxation is minimized through allocation and apportionment rules related to the income of corporations engaged in multi-state business.

License Fee & Levy:

All companies are required to pay corporate income tax, but unlike many states in that it does not have any franchise tax or privilege tax generally applicable to business.

Read more:

• Indiana trademark
• Indiana business license

Payment, Company return due date:

All businesses in Indiana must file a tax return and pay for your sales and withholding taxes. Indiana taxes the adjusted gross income of corporations at a flat rate. Beginning July 1, 2012, the adjusted gross income tax rate is being decreased every 12 months. Indiana’s tax currently is 5.25% after June 30, 2020, and before July 01, 2021 and further reduction to 4.9% after June 30, 2021.

According to the Adjusted Gross Income Tax Act, annual tax returns are required. The due date for the annual tax returns is the 15th of the 5th month following the close of the taxable year.