Creating an LLC in Indiana
A Limited Liability Company, or an LLC, is a form of business entity that combines the advantage of the limited liability of a corporation with the flexibility and single taxation of a general partnership. Instead of having shareholders, an LLC consists of members. These members are protected from the liabilities and debts of the LLC. A formal Operating Agreement can outline the operating procedures for an LLC, in much the same way that a Partnership Agreement does for partners. Another advantage of an LLC is that, like a partnership, it may be taxed only once, at the employee or member level.
Forming an LLC
Under the Indiana Code, Articles of Organization must be filed to properly establish an LLC. These Articles of Organization must include the following:
- The name of the LLC, which must end with Limited Liability Company or LLC
- The period of duration of the LLC
- The name and street address of the Registered Agent
- If the operating agreement vests management in a manager(s), a statement to that effect
- The signature of at least one organizer, member, or manager
- A $90.00 filing fee
An Indianapolis business attorney can assist you with this process. Indiana Law requires that the name of an LLC must be distinguishable from the names of other businesses of the same type on record at the office of the Secretary of State of Indiana. There is a name availability line available to conduct a preliminary check of availability of a name. A name check may also be conducted at the Indiana Secretary of State website.
These types of checks are preliminary only and should not be relied upon for a final decision. Should a name be available, there is a procedure to either file an application to reserve the name for 120 days or to file documents to organize the business under that name.
Contact us for business law support
The Indianapolis business law firm of Ammeen & Associates, P.C. is available to assist you. Whether it is business transactions including the drafting of contracts, help with a business dispute, litigation, or business formation, we are waiting for your call. Contact the skilled attorneys at Ammeen & Associates, P.C. today at 317-423-7505 or email us for all your business needs. We are conveniently located at 155 East Market Street, Indianapolis, Indiana, 46204.
