For Indiana LLC prices and State fees, please visit the costs page for forming an LLC in Indiana.
Indiana llc formation is an alternative to corporations and partnerships. The Indiana LLC is a separate legal entity, unlike a sole proprietor, however the taxation is nearly identical to a partnership or sole proprietor. The Indiana Limited Liability Company is a pass-through taxation entity. This means that the profits of the company pass through the LLC to the owner(s), who pay taxes on the company profits. The same taxation can be applied to corporations, however the corporation must file for the "S election" tax status, IRS form 2553. The business structure differences, can be explained to you by Companies Incorporated representatives, just call (800) 830-1055.
Forming a Indiana LLC or Corporation creates a separate legal entity from those who own it. This is a big liability shield that can protect the assets of the company shareholders. In order to maximize this protective shield, the Indiana Limited Liability Company must be operated correctly and observe some formalities that separate the business from the owners. If this is not done correctly, a court or the IRS could easily disregard the corporate structure (i.e. "Piercing the Corporate Veil") and when this happens, the assets of the owners are at risk. For more information on Indiana llc formation, call Companies Incorporated at (800) 830-1055.
A Indiana LLC is a "pass through" tax entity. This means that the profit and losses of the company are passed on to those who own it and reported on their personal tax filings / returns. The Indiana Limited Liability Company does not pay business taxes at the company level, any tax due is paid at the individual level of the owners. Indiana llc formation has tax advantages that include the option to have the company taxed as a corporation, otherwise it is taxed as a partnership or sole proprietorship, however the need to file itemized business deductions, or a schedule K-1, is unnecessary. For more information on Limited Liability Companies, call Companies Incorporated at (800) 830-1055.