Indiana LLC Cost
When starting an Indiana LLC, your primary cost will be paying the $100 fee ($98 online) to register your business with the Secretary of State. You’ll also need to pay $50 ($32 online) every other year to file your Business Entity Report. In addition to these basic costs, you'll have other expenses to consider, like hiring a registered agent service and purchasing business insurance. Here, we've provided you with a rundown of the required and potential costs of starting an LLC in Indiana.
What You’ll Find In This Article:
- Indiana LLC Formation Filing Fee: $100
- Indiana Business Entity Report Fee: $50
- Indiana Registered Agent Fee
- Indiana State Business License Fee
- Indiana Professional Licensing Fees
- Local Business License Fees in Indiana
- Optional LLC Fees in Indiana
- Business Insurance Premiums
- How much does it cost to register a foreign LLC in Indiana?
Indiana LLC Formation Filing Fee: $100
Officially registering your Indiana LLC with the Secretary of State will cost you $100 ($98 online). You can also form a special kind of LLC called a Series LLC in Indiana, composed of a master LLC and a group of “child” LLCs. If you’re forming a Series LLC, your filing fee will be $250 ($245 online).
When filing by mail, you’ll send Indiana Articles of Organization to the Secretary of State. For online submissions, you’ll use the state’s INBiz portal. Expedited processing isn’t available, but online filings are typically approved the same day they’re received.
Indiana Business Entity Report Fee: $50
All Indiana LLCs must submit a biennial Indiana Business Entity Report, which costs $50 to file ($32 online). If you’re starting a Series LLC, you’ll only need to file a report for your master LLC. Your report is due two years after your initial business registration by the end of your LLC’s anniversary month and every two years after that. Even though you don’t need to pay this right away, it’s good to keep this expense in mind.
Find out how to file your Indiana Business Entity Report.
Indiana Registered Agent Fee
When filing your Articles of Organization, you’re required by law (In Code §23-0.5-4.3) to designate an Indiana registered agent. Your registered agent is the individual or company who receives service of process and other legal documents on your LLC’s behalf. You can appoint yourself or another LLC member to act as your registered agent, but many companies choose to hire a professional registered agent service. Hiring a professional registered agent service can help keep your personal information off the public record and ensure that someone is always available to accept legal notices when you’re out of town. Fees for registered agent services vary by company. Northwest’s fee is $125 per year, and our price never increases.
Indiana State Business License Fee
Indiana doesn’t have a state-wide license for all businesses. However, if your LLC sells goods or tangible personal property, you’ll need a Registered Retail Merchant Certificate, which costs $25. Indiana will automatically renew your certificate 30 days before its expiration date for no charge unless you owe the state unpaid sales tax. You can apply for your certificate by mail or online using Indiana’s INBiz portal.
Depending on your industry, you may also need additional licenses or permits to operate legally in Indiana. For example, if you sell tires, you’ll have to get another specific tax license. Or, if you run a daycare, you’ll be required to get a special license from the Indiana Family and Social Services Administration. The Indiana Business Owner’s Guide contains a general list of state-level business licenses and permits. You can also contact the State Information Center to find out the exact requirements for your LLC.
Indiana Professional Licensing Fees
You’ll need a professional business license if you’re doing work that requires specialized training or education. For example, doctors, lawyers, plumbers, and cosmetologists all need professional licenses. As part of the licensing process, you’ll need to meet education and exam requirements. The cost of obtaining a professional license varies by field. Acupuncturists must pay a $150 licensing fee, while real estate brokers must pay $60. Find specific professional licensing information for your LLC through the Indiana Professional Licensing Agency.
Local Business License Fees in Indiana
Some cities and counties in Indiana also require local business licenses. In Indianapolis, certain types of businesses, including adult entertainment and towing companies, need to get a municipal license. The costs for local licenses vary by jurisdiction and license type. Contact your local jurisdiction to find out if your LLC will need to obtain any local licenses or permits.
Optional LLC Fees in Indiana
So far, we’ve gone over the crucial expenses of starting an Indiana LLC, but there are some other common business expenses to consider.
Reserving a business name in Indiana will cost you $11. Name reservation is done online through INBiz and is valid for 120 days. If you know what name you’d like to use but aren’t yet ready to register your LLC with the state, reserving your name will prevent another business from taking that name. You can renew your name reservation for another $11 if you find that you need more time.
DBA (Doing Business as) Name
Registering to do business under a DBA, known as an assumed name in Indiana, will cost you $30 ($21 online). You’ll need to file separate registrations for each assumed name you’d like to use. Assumed names are valid until they are canceled, which costs nothing when filed by mail ($2 online).
Certified Copies of Business Documents
The price of getting certified copies of your business documents will vary by document type, from $0 to $16. You can request a copy of your Articles of Organization by ordering a Certificate of Fact from the Secretary of State. Ordering online through InBiz costs $16; ordering by mail using an Information Request Form is a flat $15.
Find out how to get a certified copy of your Indiana Articles of Organization.
Indiana Certificate of Existence
The cost of an Indiana Certificate of Existence depends on how you order but ranges from $15 to $30. You can order online through InBiz for $27. Or, you can submit an Information Request Form to the Secretary of State. Filing an Informational Request Form will cost you $15 for a regular Certificate of Existence and $30 for a Long Form Certificate of Existence. (A Long Form Certificate of Existence includes a list of all the documents you have filed for your business.)
Also known as a Certificate of Good Standing in many states, a Certificate of Existence verifies that your LLC has paid all required fees and taxes and is fit to operate in Indiana. You may need to provide your Certificate of Existence when applying for loans or expanding your business into another state.
Here’s how to get an Indiana Certificate of Existence.
Business Insurance Premiums
While business insurance isn’t required, it’s a good idea if you’d like to protect the money you’ve invested into expensive property or equipment or if you’re at risk of being sued. In either case, liability insurance can help shield you from significant financial loss. The cost of liability insurance will depend on the size of your business, the hazards associated with the work you do, and how much protection you want.
In Indiana, you will be required to get workers’ compensation insurance if you have one or more employees. You and your fellow LLC members aren’t considered employees, but if you wish, you can elect to be covered under workers’ compensation insurance. You can purchase coverage through a private insurer or join the state’s Assigned Risk Pool. The price of worker’s compensation insurance will vary based on the number of workers you insure and the level of hazard they face in the workplace.
Learn more about LLC Business Insurance.
How much does it cost to register a foreign LLC in Indiana?
It’ll cost you $125 ($107 online) to register your foreign LLC in Indiana. If you’re registering a master LLC, the fee will be $250 ($245 online). Registering as an Indiana foreign LLC is legally required if your LLC was formed in a different jurisdiction, but you’re expanding to do business in Indiana. Your Indiana foreign LLC will also be subject to Indiana tax and licensing requirements.