No matter what kind of business you will be developing, you’ll need to address legal structure and EIN.
Select a business entity type that best fits your business needs
You’ll want to make sure your business is legal. The first step is to decide what kind of business entity (legal structure) is best for you. Careful consideration must be given to the management, structural and tax implications of your decision. While not a replacement for sound legal or tax advice, see Selecting a Business Structure for a description of each business type.
- To register a business name for a sole proprietorship or general partnership: Contact your local county recorder where you intend to do business.
- To file a Corporation, LLC, LLP, or Limited Partnership, contact the Secretary of State’s office for application forms and filing requirements.
Get local license requirements
- Visit the Indiana Secretary of State to create an INBiz account for your business. This site will walk you through any state license requirements your business might need.
- To register a business name for a sole proprietorship or general partnership, contact your local county recorder where you intend to do business.
Obtain an Employer Identification Number (EIN) from the U.S. Internal Revenue Service.
Employers with employees, business partnerships, and corporations must obtain an Employer Identification Number (EIN) from the U.S. Internal Revenue Service. Even if you are a sole proprietor and don’t have employees, it is still good practice to obtain an EIN; you may need it for some government forms, banks often require it for loans, and it can be used instead of your personal Social Security Number to protect against identify theft.
Obtain the necessary tax information
Taxation for small businesses may be simple or complex, depending on the size and business structure. The tax liability for each business will be different and you should consult your attorney and accountant regarding comprehensive tax planning.
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