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Indiana ‘The Hoosier State’ and ‘The Crossroads of America’. Indiana is a north-south oriented state that made it to be a corridor for movement from north to south and east to west.
The city of Indianapolis is the junction of major interstate highways, and serves as the base for many of America’s trucking, connecting Hoosiers to the rest of the United States. Combined with the state’s manufacturing and industrial base, Indiana’s transportation systems continue to keep America on the move.
The total of the population in Indiana was 6,732,219 people in 2019. According to the 2010 Census, Indianapolis is the 12th-largest city in the United States with a population of 829,817.
The official language in Indiana is English with 93.5% of all Hoosiers five years old and older spoke only English at home.
The government of Indiana is located in Indianapolis, the capital of the state. The government is established and regulated by the Constitution of Indiana. Three branches of the government of Indiana: Executive (The Governor of Indiana), Legislative (The Indiana General Assembly including an upper house, the Indiana Senate and a lower house, the Indiana House of Representatives ), Judicial (The Indiana Supreme Court, the court oversees the lower courts and commissions).
Indiana has a diverse economy, which has the total Gross State Product was $359.12 billion in 2017. The state has a low rate of the unemployment rate (3.4 percent), lower than the national average.
The energy sector, manufacturing, pharmaceuticals, and medical devices, mining, transportation, and agriculture are the biggest industries in Indiana.
United States Dollar (USD)
Indiana does not separately impose exchange control or currency regulations.
The financial services industry has become a key component of Indiana’s economic strength and growth. The state has been home to many banks and financial services companies for years due to tax regulation on interest rates.
Private citizens can bring antitrust lawsuits in Indiana. The state has strict regulations about false advertising and other deceptive trade practices.
The business laws of Indiana are familiar to many lawyers both in the United States and internationally.
One IBC provides incorporation in Indiana service with the common type Limited Liability Company (LLC) and Corporation (C-Corp or S-Corp).
The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.
The name of each limited liability company and corporation cannot be the same as or deceptively similar to an existing limited liability company or corporate name.
The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";
Personal information such as telephone numbers, email addresses, and social security numbers of business entity members (e.g., officers, directors, managers, members, partners, agents, and employees) is not made of a record with the Indiana Secretary of State.
Just 4 simple steps are given to start a business in Indiana:
*These documents are required to incorporate a company in Indiana:
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How to start a business in Indiana, USA
Generally, most states in the United States do not impose minimum or maximum limits on share capital.
Only one director is required
Only one shareholder is required
Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.
There is generally no requirement to file financial statements with the state of formation unless the corporation owns assets within that state or has conducted business within that state.
All domestic and foreign corporations, nonprofit corporations, limited liabilities companies (LLCs), etc. must have a registered agent and registered address at all times.
Indiana, as a state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimized by providing credits against Indiana taxation for taxes paid in other states.
In the case of corporate taxpayers, double taxation is minimized through allocation and apportionment rules related to the income of corporations engaged in multi-state business.
All companies are required to pay corporate income tax, but unlike many states in that it does not have any franchise tax or privilege tax generally applicable to business.
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All businesses in Indiana must file a tax return and pay for your sales and withholding taxes. Indiana taxes the adjusted gross income of corporations at a flat rate. Beginning July 1, 2012, the adjusted gross income tax rate is being decreased every 12 months. Indiana’s tax currently is 5.25% after June 30, 2020, and before July 01, 2021 and further reduction to 4.9% after June 30, 2021.
According to the Adjusted Gross Income Tax Act, annual tax returns are required. The due date for the annual tax returns is the 15th of the 5th month following the close of the taxable year.