Select a Name for Your Corporation in Step 1 You must select a distinctive name for your corporation that is not already being used by another company in Indiana. The Indiana Secretary of State’s internet database can be used to see if a name is available. If you discover a name that is accessible, you can submit an Application for Reservation of Name to reserve it for 120 days.
File Articles of Incorporation in Step 2 Articles of Incorporation must be submitted to the Secretary of State’s office in order to incorporate your business in Indiana. The name of the corporation, its mission, the amount of shares of stock the corporation is authorized to issue, the name and address of the registered agent, and the names and addresses of the incorporators must all be included in the articles of incorporation.
Third step: select a registered agent All corporations in Indiana are required to have a registered agent. An individual or business authorised to receive legal documents on the corporation’s behalf is known as a registered agent. In order to receive legal documents, the registered agent must have a physical address in Indiana and be accessible during regular business hours.
In Indiana, do you require a registered agent? Yes, as was already stated, a registered agent is required for every corporation in Indiana. It’s critical to select a dependable and trustworthy registered agent because they will be receiving legal paperwork on the corporation’s behalf.
The legal and administrative formalities necessary to form a business might be expensive. In order to make sure that your organization is set up properly and conforms with all state and federal rules, you might need to pay for legal and accounting services in addition to filing expenses. What Are the Four Drawbacks of Incorporating?
While incorporating your firm has many benefits, there are also some possible drawbacks to take into account. The initial cost of establishing a corporation, continuous administrative needs, a potential loss of founder control, and additional taxes and regulatory obligations are four drawbacks of incorporation. Why Might You Pick a Corporation Business?
Among the benefits of incorporating your business are restricted liability protection for the owners or shareholders, simpler access to capital, and potential tax advantages. Incorporating your business could be a wise move if you’re beginning one that you intend to develop and expand.