How and where you incorporate your business sets the foundation for everything that follows, including tax setup, legal protection, the credibility you carry with customers and banks, and more.

Below, we’ll explain how to incorporate in Indiana, including benefits for businesses, legal requirements, and costs.

What’s in this article?

• How do you incorporate a business in Indiana?
  
• What are the benefits of incorporating in Indiana?
  
• What are the legal requirements to incorporate in Indiana?
  
• How much does it cost to incorporate in Indiana?
  
• How Stripe Atlas can help
  

How do you incorporate a business in Indiana?

Incorporating a business in Indiana means registering it as a separate legal entity with the state. Once your paperwork is filed and approved, your personal assets are legally separate from your business’s debts or lawsuits. If you’re entering into contracts, hiring people, or accepting payments, that liability shield can be useful.

Forming a limited liability company (LLC) or incorporating signals to customers, vendors, and investors that your business is built to last. A formal structure can make it easier to open business bank accounts, apply for loans or grants, work with larger partners or suppliers, and bid on contracts.

Here’s how to complete this process in Indiana:

Choose a business structure

Decide whether you’re forming a corporation or an LLC. Both give you liability protection, but they differ in how they’re taxed, governed, and capitalized.

Typically, LLCs are simpler to manage. Corporations offer a more formal structure, can issue stock, and might be better suited if you plan to raise capital or scale.

This decision affects what you file with the state and how you run the business.

Select a name

Indiana requires that your business name be distinguishable from other registered names in the state and include an identifier specific to your entity type. Log in to Indiana’s online business services portal, INBiz, to check name availability.

Appoint a registered agent

All Indiana LLCs and corporations need a registered agent: a person or service with a physical address in Indiana that can receive legal and government documents on your behalf. That address becomes part of the public record, and the agent must be reliably available during business hours. You can be your own agent if you live in Indiana and don’t mind your address being public, or you can hire a registered agent service.

File your formation documents

File your formation documents through the INBiz portal. You can also do it by mail, but this option is slower. Corporations file articles of incorporation, and LLCs file articles of organization. Once you submit the form and pay the fee, you wait for state approval.

Create internal documents

Corporations are required to create bylaws that outline how the business will operate, though they aren’t filed with the state. LLCs aren’t legally required to have an operating agreement, but it’s strongly recommended. This document lays out how the business is managed, how profits and losses are divided, and what happens if someone leaves the business.

These documents help prove your business is a separate legal entity, which matters if you need to defend that status in court or to the IRS.

Fulfill other business requirements

Once your formation is approved, your business exists. But incorporation is just the start.

You’ll probably also need to:

• Get an Employer Identification Number (EIN) from the IRS

• Register for Indiana tax accounts if you’re selling taxable goods or hiring employees

• File a Business Entity Report with the state every other year to keep your business in good standing

What are the benefits of incorporating in Indiana?

Incorporating in Indiana means choosing a state that’s consistently favorable to business owners. Here are the major benefits of incorporating in Indiana:

A business-friendly climate

The state has a diverse economy and a growing gross domestic product (GDP). State policy is usually favorable to business owners. Corporate income tax is a flat 4.9%, among the lowest in the Midwest. The state has no franchise or gross receipts tax, which can weigh heavily on early-stage businesses in other states. And the overall cost of doing business is low because of affordable real estate, low utility costs, and a below-average cost of living.

Access to helpful incentives

Indiana offers targeted programs to encourage business investment and job creation. If you plan to hire or expand, this support can lower your costs.

For example:

• The Hoosier Business Investment Tax Credit (HBI) is a tax credit based on job creation and capital investment in Indiana.

• If your business operates in an Enterprise Zone, you might qualify for a stack of credits, including employee expense credits, loan interest credits, and investment cost credits.

• If your business does research and development, equipment purchases can be 100% exempt from state sales tax.

If your business falls into one of these categories, consider applying for these programs.

Flexibility in how you structure and run the business

Indiana recognizes the federal S corporation (S corp) election. That flexibility matters when you’re deciding how to handle profit, taxation, and management. No matter how you plan to grow (or exit) your business, you can structure it accordingly.

What are the legal requirements to incorporate in Indiana?

Incorporating in Indiana means meeting a few nonnegotiables to give your business legal status, protect your personal assets, and keep you in good standing with the state.

Here’s what Indiana requires and why each piece matters:

A business name that follows the rules

In Indiana, your business name must be distinguishable from any other business name registered in the state and include the right legal suffix based on your entity type. Corporation names must end in some version of “Corporation” or “Incorporated” (“Inc.” and “Co.” also work), and LLCs must end in “LLC” or “Limited Liability Company.”

You can use the INBiz name availability search to check what names are taken. If your name is available but you’re not ready to file, you can reserve it for 120 days through the secretary of state’s office.

A registered agent with a real Indiana address

Every Indiana business is required to have a registered agent: a designated person or business that can receive legal and government documents on your behalf. The agent must have a physical street address in Indiana, and they must be available during regular business hours.

For this role, you can name yourself, someone else in the business, or a registered agent service. Whomever you pick, their name and address will be part of the public record. If you work remotely or want more privacy, a third-party service might be worth the annual fee.

Formation documents filed with the state

LLCs file articles of organization, and corporations file articles of incorporation. You’ll submit these through INBiz or by mail.

The documents include:

• Your business name

• Your registered agent’s name and address

• Your business’s principal address

Corporations must also list:

• How many shares you’re authorizing (it must be at least one)

• A general purpose clause (e.g., “to engage in any lawful business activity”)

• The name and signature of the person submitting the filing (your “organizer” or “incorporator”)

Once the secretary of state processes and approves your filing, your business officially exists.

Internal governance documents

Corporations are legally required to adopt bylaws that lay out how the business will be run, including board elections, officer roles, and decision-making processes. Though LLCs aren’t legally required to have an operating agreement, it’s a good idea to have one. This document defines member roles, ownership percentages, voting rights, and what happens if someone leaves or dies.

Whether your business is a one-person operation or you have multiple stakeholders, these documents will help you preserve the legal separation between you and the business. This protects your personal assets.

Ongoing compliance

Indiana doesn’t require annual reports like some states, but you must file a Business Entity Report every other year. That report confirms key information such as your business address, officers or members, and registered agent. You’ll file it through INBiz in the same month you originally incorporated. Forgetting to file the report can lead to administrative dissolution.

Indiana’s requirements are manageable, but they’re not optional. Once you’ve handled formation, agent appointment, and internal documents, the rest is low-maintenance, and INBiz centralizes nearly all of it.

How much does it cost to incorporate in Indiana?

The cost to incorporate in Indiana is relatively low. You need to pay state filing fees plus a few optional expenses depending on how you set up and manage your business.

Here’s a breakdown:

State filing fees

This is the main cost of incorporating and covers the official filing of your articles of incorporation for a corporation or articles of organization for an LLC. Online filing through INBiz costs $95 plus a small processing fee. Paper filing by mail costs $100. Online filing is faster and cheaper.

Registered agent fees

Every Indiana business is required to have a registered agent. If you appoint yourself or someone in your business, it’s free. If you hire a professional service, expect to pay $100–$300 per year, depending on the provider. If you’re running your business remotely or want someone else handling legal notices, the fee can be worth it.

Biennial report fee

Every Indiana business, whether it’s an LLC or corporation, must file a Business Entity Report every second year after the year of incorporation to stay in good standing. Filing costs $30.

Other optional costs

Depending on your setup, you might also encounter:

• Legal or filing service fees: If you use a lawyer or an incorporation platform, you’ll pay extra for their help.

• Business licenses or permits: Indiana doesn’t have a general state-level business license. However, certain types of businesses, such as contractors, salons, and restaurants, require specific licenses. These have their own fees and application processes.

• Intellectual property (IP) protection: Trademarks, copyrights, and patents aren’t part of incorporation. If you want them, they’ll add to your startup costs.

These aren’t technically incorporation expenses, but they’re worth budgeting for when mapping your launch costs.

How Stripe Atlas can help

Stripe Atlas sets up your company’s legal foundations so you can fundraise, open a bank account, and accept payments within two business days from anywhere in the world.

Join 75K+ companies incorporated using Atlas, including startups backed by top investors like Y Combinator, a16z, and General Catalyst.

Applying to Atlas

Applying to form a company with Atlas takes less than 10 minutes. You’ll choose your company structure, instantly confirm whether your company name is available, and add up to four cofounders. You’ll also decide how to split equity, reserve a pool of equity for future investors and employees, appoint officers, and then e-sign all your documents. Any cofounders will receive emails inviting them to e-sign their documents, too.

Accepting payments and banking before your EIN arrives

After forming your company, Atlas files for your EIN. Founders with a US Social Security Number, address, and cell phone number are eligible for IRS expedited processing, while others will receive standard processing, which can take a little longer. Additionally, Atlas enables pre-EIN payments and banking, so you can start accepting payments and making transactions before your EIN arrives.

Cashless founder stock purchase

Founders can purchase initial shares using their intellectual property (e.g., copyrights or patents) instead of cash, with proof of purchase stored in your Atlas Dashboard. Your IP must be valued at $100 or less to use this feature; if you own IP above that value, consult a lawyer before proceeding.

Automatic 83(b) tax election filing

Founders can file an 83(b) tax election to reduce personal income taxes. Atlas will file it for you—whether you are a US or non-US founder—with USPS Certified Mail and tracking. You’ll receive a signed 83(b) election and proof of filing directly in your Stripe Dashboard.

World-class company legal documents

Atlas provides all the legal documents you need to start running your company. Atlas C corp documents are built in collaboration with Cooley, one of the world’s leading venture capital law firms. These documents are designed to help you fundraise immediately and ensure your company is legally protected, covering aspects like ownership structure, equity distribution, and tax compliance.

A free year of Stripe Payments, plus $50K in partner credits and discounts

Atlas collaborates with top-tier partners to give founders exclusive discounts and credits. These include discounts on essential tools for engineering, tax, finance, compliance, and operations from industry leaders like AWS, Carta, and Perplexity. We also provide you with your required Delaware registered agent for free in your first year. Plus, as an Atlas user, you’ll access additional Stripe benefits, including up to a year of free payment processing for up to $100K in payments volume.

Learn more about how Atlas can help you set up your new business quickly and easily, and get started today.