Start a Free LLC in Indiana
LLC Register forms your free Indiana LLC, serves as your Indiana registered agent and keeps your LLC in good standing. Indiana charges $100 to file the Articles of Organization with the Indiana Secretary of State.

Indiana LLC
- Indiana LLC Formation
- Free
- Indiana LLC Name Search
- Free
- Indiana Registered Agent
- $99 per year
- Annual Compliance
- Free
- Indiana State Filing Fee
- $100
Transparent Cost Guide to Form an Indiana LLC with LLC Register
Every fee, line by line. The state fee is passed through at cost; there is nothing else to add at checkout.
| Cost item | LLC Register fee | Indiana state fee | Estimated total | One-time or annual |
|---|---|---|---|---|
Indiana LLC name search | $0 | $0 | $0 | Free |
Indiana LLC business name generator | $0 | $0 | $0 | Free |
Indiana LLC formation (articles of organization) | $0 | $0 | $0 | Free |
Indiana registered agent | $99 | $0 | $99 | Annual |
Indiana LLC compliance (annual report) | $0 | $50 | $50 | Recurring |
Indiana state filing fee | $0 | $100 | $100 | One-time |
Indiana LLC formation and annual compliance are included with the $99 annual registered agent service. You also pay the $100 state filing fee required by the Indiana Secretary of State. That makes $199 in year one, and renewal is $99 per year, plus the $50 Indiana Business Entity Report fee (every two years) paid to the state at cost.
Comprehensive 10-Step Guide to Form an Indiana LLC
From the name search to your first annual report, in the order you will do them.
Step 1 — Choose a compliant Indiana LLC name
Your Indiana LLC name must include the words "Limited Liability Company" or an abbreviation such as "LLC" or "L.L.C.", and it must be distinguishable from every other name on record with the Secretary of State. Check that your name is available with the free Indiana Secretary of State business name search before you file.
Name reservation: online through INBiz's Reservation of Business Name filing
Step 2 — Select a registered agent in Indiana
Every Indiana LLC must name a registered agent to receive legal papers and state mail. Your registered agent must be a commercial registered agent listed with the Secretary of State or a noncommercial registered agent, such as a member or manager, with a physical street address in Indiana. A P.O. box is not accepted unless it includes a Rural Route number, and the agent must consent to serve. LLC Register's Indiana registered agent service is $99 a year and includes LLC formation and annual report filing.
Required by the Indiana Business Flexibility Act (Indiana Code Title 23, Article 18), with general filing provisions recodified in Indiana Code 23-0.5
Step 3 — Decide how the Indiana LLC will be managed
Member-managed LLCs are run by their owners; manager-managed LLCs appoint managers to run the business. You choose the structure when you file the Articles of Organization and set the details in your operating agreement.
Member-managed or manager-managed
Step 4 — File the Articles of Organization with the Indiana Secretary of State
Submit the Articles of Organization (Form 49459) and pay the $100 state filing fee. You can file online through INBiz, or by mail with the paper Articles of Organization (State Form 49459). Most online filings through INBiz are processed the same business day. We prepare and file it for you.
State fee: $100 · File online: INBiz
Step 5 — Create an LLC operating agreement
Indiana does not require an LLC to adopt or file an operating agreement, and written, oral, or implied agreements among members are all enforceable, even for a single-member LLC. Ours is included and ready to sign.
Included with LLC Register
Step 6 — Obtain an EIN or FTIN
Get your federal Employer Identification Number from the IRS. It is free, and applying online gives you the number right away. You need it to hire employees, open a business bank account and file federal taxes; owners without a Social Security number apply with Form SS-4.
Free from the IRS · Form SS-4
Step 7 — Open a business banking account
Keep business and personal money apart to protect your limited liability. Banks usually ask for your filed Articles of Organization, your EIN and your operating agreement.
Bring your formation document, EIN and operating agreement
Step 8 — Register for Indiana taxes, permits and licenses
If you sell taxable goods or services, register for a Registered Retail Merchant Certificate with the Indiana Department of Revenue, most easily through INBiz or the state's INTIME portal. Before you hire, register with the Indiana Department of Workforce Development for unemployment insurance and with the Department of Revenue for income tax withholding through INTIME. Check with your city and county for local business licenses.
Tax agency: Indiana Department of Revenue
Step 9 — Consider other LLC documents
Such as a banking resolution, a Certificate of Existence ($11), or foreign qualification if you operate in other states. If you use a brand name other than your LLC's legal name, file a Certification of Assumed Business Name (All Entities).
Certificate: $11 · DBA: $30
Step 10 — Set reminders for annual compliance
Indiana requires the Indiana Business Entity Report every two years. It is due in your LLC's anniversary month, every other year (biennially). The first one is due in your LLC's anniversary month, two years after you form it. We track the deadline and file it on time while your agent service is active.
State fee: $50 · Biennial
Indiana LLC Formation Facts Table
The official numbers, names and links for an Indiana LLC, each checked against the state agency.
Indiana LLC filing agency | Indiana Secretary of State, Business Services Division |
|---|---|
Indiana LLC formation document | Articles of Organization (Form 49459) |
Indiana LLC filing fee | $100 |
Standard processing time | Most online filings through INBiz are processed the same business day. |
Expedited filing | Not offered |
Indiana online LLC filing | inbiz.in.gov |
Indiana LLC name search | swyftfilings.com/business-name-generator |
Name reservation | Available online through INBiz's Reservation of Business Name filing |
Indiana registered agent required | Yes |
Registered agent address rule | Your registered agent must be a commercial registered agent listed with the Secretary of State or a noncommercial registered agent, such as a member or manager, with a physical street address in Indiana. A P.O. box is not accepted unless it includes a Rural Route number, and the agent must consent to serve. |
Can you be your own registered agent | Yes |
Indiana registered agent service | /registered-agent/indiana |
Annual or biennial filing | Indiana Business Entity Report, every two years |
Annual report state fee | $50 |
First compliance deadline | In your LLC's anniversary month, two years after you form it |
Recurring due date | In your LLC's anniversary month, every other year (biennially) |
Late filing penalty | Indiana does not publish a late fee for a missed Business Entity Report, but failing to file can lead to administrative dissolution or revocation of your LLC's registration by the Secretary of State. |
Indiana Business Entity Report filing | inbiz.in.gov/business-filings/business-entityreport |
Franchise or privilege tax | Indiana has no franchise or privilege tax on LLCs. Indiana's Financial Institutions Tax, which functions like a franchise tax, applies only to banks and other financial institutions. |
State income tax on LLC profits | Indiana taxes an LLC as a pass-through entity by default, so profits flow to the members' Indiana adjusted gross income tax returns. An eligible LLC can instead elect Indiana's Pass Through Entity Tax (PTET) to pay Indiana tax at the entity level. |
Sales tax permit | Registered Retail Merchant Certificate, issued by Indiana Department of Revenue |
Operating agreement required by law | No |
Newspaper publication required | No |
Series LLC allowed | Yes |
Professional LLC (PLLC) allowed | No |
Certificate of good standing fee | $11 (Certificate of Existence) |
Foreign LLC registration fee | $125 (Foreign Registration Statement) |
Amendment fee | $30 (Articles of Amendment of the Articles of Organization) |
Dissolution fee | $30 (Articles of Dissolution of a Limited Liability Company) |
DBA (assumed name) filing | $30 (Certification of Assumed Business Name (All Entities)), filed with Indiana Secretary of State, Business Services Division |
Indiana LLC law | iga.in.gov/laws/current/ic/titles/23 |
Free trademark search | trademarkengine.com/free-trademark-search |
Trademark registration | trademarkengine.com |
Virtual mailbox | snapmailbox.com |
Apply for an EIN (IRS) | irs.gov/businesses/small-businesses-self-employed/get-an-employer-identification-number |
Author: LLC RegisterLast reviewed 9/30/2026
Indiana agency: Indiana Secretary of StateLast reviewed 9/30/2026
Legal Requirements to Start an Indiana LLC
What Indiana law requires of every LLC, with the rule and the agency that enforces it.
A distinguishable LLC name
Your Indiana LLC name must include the words "Limited Liability Company" or an abbreviation such as "LLC" or "L.L.C.", and it must be distinguishable from every other name on record with the Secretary of State. Search the name for free with the Indiana business name search before you file. You can reserve a name online through INBiz's Reservation of Business Name filing. The rules come from the Indiana Business Flexibility Act (Indiana Code Title 23, Article 18), with general filing provisions recodified in Indiana Code 23-0.5.
An Indiana registered agent
Every Indiana LLC must appoint and keep a registered agent in Indiana. Your registered agent must be a commercial registered agent listed with the Secretary of State or a noncommercial registered agent, such as a member or manager, with a physical street address in Indiana. A P.O. box is not accepted unless it includes a Rural Route number, and the agent must consent to serve. To change agents, file the Statement of Change of Registered Agent (State Form 56367) (free). LLC Register's Indiana registered agent service is $99 a year and includes LLC formation and annual report filing.
The Articles of Organization
Your LLC exists once the Indiana Secretary of State accepts your Articles of Organization (Form 49459) and the $100 filing fee. You can file online through INBiz, or by mail with the paper Articles of Organization (State Form 49459). Most online filings through INBiz are processed the same business day.
An operating agreement
Indiana does not require an LLC to adopt or file an operating agreement, and written, oral, or implied agreements among members are all enforceable, even for a single-member LLC. Even where it is optional, a written operating agreement sets ownership, voting, profit splits and what happens when a member leaves, and banks often ask for one.
Indiana Business Entity Report
Indiana requires every LLC to file the Indiana Business Entity Report every two years for $50. It is due in your LLC's anniversary month, every other year (biennially). The first one is due in your LLC's anniversary month, two years after you form it. Indiana does not publish a late fee for a missed Business Entity Report, but failing to file can lead to administrative dissolution or revocation of your LLC's registration by the Secretary of State.
State taxes and licenses
Indiana has no franchise or privilege tax on LLCs. Indiana's Financial Institutions Tax, which functions like a franchise tax, applies only to banks and other financial institutions. Indiana taxes an LLC as a pass-through entity by default, so profits flow to the members' Indiana adjusted gross income tax returns. An eligible LLC can instead elect Indiana's Pass Through Entity Tax (PTET) to pay Indiana tax at the entity level. If you sell taxable goods or services, register for a Registered Retail Merchant Certificate with the Indiana Department of Revenue, most easily through INBiz or the state's INTIME portal. See the Indiana Department of Revenue for registrations.
Indiana LLC Company Cost Comparison
Published prices for forming and keeping an Indiana LLC, compared line by line.
| What you pay for | LLC Register | LegalZoom | ZenBusiness |
|---|---|---|---|
LLC formation service | $0 | $0 | $0 |
Indiana filing fee | $100 | $100 | $100 |
Registered agent, first year | $99 | $249 | $99 |
Annual report filing | $0 | $99 | $100 |
First-year total | $99 + state fee | $249 + state fee | $99 + state fee |
Registered agent renewal | $99 per year | $249 per year | $199 per year |
Competitor prices are for each company's lowest-priced LLC package, as published on its own website on September 29, 2026. The Indiana state fee is extra with every provider. Prices change; check each provider before you buy.
Why Form Your Indiana LLC with LLC Register
One price, the whole bill up front, and your LLC kept in good standing every year.
$99 a year. That is the whole price.
The same $99 at renewal, every year. No tiers to compare and nothing pre-checked at checkout.
Formation included
We prepare and file your Articles of Organization with the Indiana Secretary of State. You pay only the $100 state fee, at cost.
An Indiana registered agent
A physical Indiana address for legal and state mail, with scans sent to you the same day.
Your annual compliance, handled
We track the Indiana deadlines and file your Indiana Business Entity Report on time while your agent service is active.
Every fee shown before you pay
The cost guide above is the bill. State fees are passed through at cost and never marked up.
Support by email
Real people answer your questions by email, before and after your Indiana LLC is formed.
Important Indiana LLC Resources and Links
Official Indiana offices, forms and data in one place. Every link goes to the source.
State government offices
Filing, forms and records
- Business name searchbsd.sos.in.gov
- Articles of Organization (Form 49459) formforms.in.gov
- Indiana Business Entity Report filinginbiz.in.gov
- Foreign LLC registration (Foreign Registration Statement)forms.in.gov
- DBA (Certification of Assumed Business Name (All Entities))forms.in.gov
- Indiana Business Flexibility Act (Indiana Code Title 23, Article 18), with general filing provisions recodified in Indiana Code 23-0.5iga.in.gov
Taxes, permits and licenses
Indiana business data and help
- Population and demographicsU.S. Census Bureau QuickFacts, Indiana
- Small business statisticsSBA Office of Advocacy, 2025 state small business profiles
- Indiana Small Business Development Center (ISBDC)isbdc.org
- U.S. Small Business Administrationsba.gov
- SBA local assistanceFind SBA offices and advisors near you in Indiana
More official Indiana resources
Indiana LLC FAQs
Short questions, direct answers about forming and running an LLC in Indiana.
How much does it cost to start an LLC in Indiana?
Per the Indiana Secretary of State, as of September 2026, Indiana charges $100 to file the Articles of Organization. After that, the Indiana Business Entity Report costs $50 every two years. With LLC Register, formation is included in the $99-a-year Indiana registered agent service, so year one costs $199.
How long does it take to form an LLC in Indiana?
Most online filings through INBiz are processed the same business day. Indiana does not offer paid expedited processing for LLC formations. Your LLC exists once the state accepts your filing.
How do I start an LLC in Indiana?
To start an LLC in Indiana, choose an available name, appoint an Indiana registered agent, and file the Articles of Organization with the Indiana Secretary of State for $100. Then sign an operating agreement, get a free EIN from the IRS, open a business bank account and register for any state taxes. LLC Register files it for you as part of the $99-a-year registered agent service.
Can I form an LLC online in Indiana?
Yes. You can file online through INBiz, or by mail with the paper Articles of Organization (State Form 49459). The Articles of Organization costs $100.
What is the Indiana LLC formation document called?
In Indiana you form an LLC by filing the Articles of Organization (Form 49459) with the Indiana Secretary of State. Other states call this document the articles of organization or the certificate of formation. The filing fee is $100.
Is there an expedited LLC filing option in Indiana?
No. Indiana does not offer paid expedited processing for LLC formations. Most online filings through INBiz are processed the same business day.
How do I do an Indiana LLC name search?
Use the Indiana Secretary of State's free online business name search to check whether your LLC name is available. Your Indiana LLC name must include the words "Limited Liability Company" or an abbreviation such as "LLC" or "L.L.C.", and it must be distinguishable from every other name on record with the Secretary of State.
What are the Indiana LLC name requirements?
Your Indiana LLC name must include the words "Limited Liability Company" or an abbreviation such as "LLC" or "L.L.C.", and it must be distinguishable from every other name on record with the Secretary of State. The rules are set by the Indiana Business Flexibility Act (Indiana Code Title 23, Article 18), with general filing provisions recodified in Indiana Code 23-0.5.
Can I reserve an LLC name in Indiana?
Yes. You can reserve a name online through INBiz's Reservation of Business Name filing. A reservation is optional; filing the formation document also secures the name.
Do I need a registered agent for my Indiana LLC?
Yes. Every Indiana LLC must have a registered agent. Your registered agent must be a commercial registered agent listed with the Secretary of State or a noncommercial registered agent, such as a member or manager, with a physical street address in Indiana. A P.O. box is not accepted unless it includes a Rural Route number, and the agent must consent to serve.
Can I be my own registered agent in Indiana?
Yes. A member or manager can serve as the LLC's noncommercial registered agent if they have a physical street address in Indiana and consent to serve. Your address becomes public record, and someone must be there during business hours to accept legal papers.
Can I use a PO box for my Indiana LLC?
Not as your registered agent's address. Your registered agent must be a commercial registered agent listed with the Secretary of State or a noncommercial registered agent, such as a member or manager, with a physical street address in Indiana. A P.O. box is not accepted unless it includes a Rural Route number, and the agent must consent to serve. A PO box can usually serve as a mailing address, but the registered agent needs a physical address in Indiana.
How do I change my registered agent in Indiana?
File the Statement of Change of Registered Agent (State Form 56367) with the Indiana Secretary of State. There is no fee to file it.
How much does a registered agent cost in Indiana?
Serving as your own Indiana registered agent is free if you qualify. Commercial registered agents charge a yearly fee. LLC Register's Indiana registered agent service is $99 a year and includes LLC formation and annual report filing.
Does Indiana require an annual report for LLCs?
Yes. Indiana LLCs must file the Indiana Business Entity Report every two years. The state fee is $50.
When is the Indiana LLC annual report due?
The Indiana Business Entity Report is due in your LLC's anniversary month, every other year (biennially). Your first one is due in your LLC's anniversary month, two years after you form it. It is filed with the Indiana Secretary of State.
How much is the Indiana LLC annual report fee?
Per the Indiana Secretary of State, as of September 2026, the Indiana Business Entity Report state fee is $50. It is due in your LLC's anniversary month, every other year (biennially). LLC Register files it for you at no extra service fee while your registered agent service is active.
What happens if I miss the Indiana annual report deadline?
Indiana does not publish a late fee for a missed Business Entity Report, but failing to file can lead to administrative dissolution or revocation of your LLC's registration by the Secretary of State. File as soon as possible to keep your LLC in good standing.
Does Indiana have a franchise tax for LLCs?
Indiana has no franchise or privilege tax on LLCs. Indiana's Financial Institutions Tax, which functions like a franchise tax, applies only to banks and other financial institutions.
How are LLCs taxed in Indiana?
Indiana taxes an LLC as a pass-through entity by default, so profits flow to the members' Indiana adjusted gross income tax returns. An eligible LLC can instead elect Indiana's Pass Through Entity Tax (PTET) to pay Indiana tax at the entity level. Federally, a single-member LLC is taxed like a sole proprietorship and a multi-member LLC like a partnership, unless it elects to be taxed as a corporation.
Do I need a sales tax permit for my Indiana LLC?
If you sell taxable goods or services, register for a Registered Retail Merchant Certificate with the Indiana Department of Revenue, most easily through INBiz or the state's INTIME portal.
How do I register my Indiana LLC as an employer?
Before you hire, register with the Indiana Department of Workforce Development for unemployment insurance and with the Department of Revenue for income tax withholding through INTIME. You also need an EIN from the IRS before you run payroll.
Do I need a business license for my Indiana LLC?
It depends on your industry and location: Indiana regulates some professions and activities through state licenses, and many cities and counties require local business licenses. Start with the INBiz, Indiana's One Stop Source for Your Business.
Do I need an operating agreement for an Indiana LLC?
Indiana does not require an LLC to adopt or file an operating agreement, and written, oral, or implied agreements among members are all enforceable, even for a single-member LLC. LLC Register includes an operating agreement with every Indiana LLC it forms.
Do I need an EIN for my Indiana LLC?
You need an EIN if your LLC has employees or more than one member, and most banks ask for one to open a business account. A single-member LLC without employees can use the owner's Social Security number for federal taxes, but an EIN keeps it off business paperwork.
How do I get an EIN for an Indiana LLC?
Apply for free on the IRS website once the state has approved your LLC; online applicants receive the EIN immediately. Owners without a Social Security number can apply with Form SS-4 by fax or mail.
Can a nonresident form an LLC in Indiana?
Yes. You do not have to live in Indiana or be a U.S. citizen to form an Indiana LLC. You do need a registered agent with a physical address in Indiana. Non-U.S. owners without a Social Security number apply for an EIN with IRS Form SS-4.
Can I form a single-member LLC in Indiana?
Yes. Indiana allows an LLC with a single owner. By default the IRS taxes a single-member LLC like a sole proprietorship, reported on the owner's personal return.
Does Indiana allow series LLCs?
Yes. Indiana allows series LLCs through its Master Limited Liability Company framework, where a Master LLC designates one or more series, each able to hold separate assets and liabilities.
Can licensed professionals form a PLLC in Indiana?
No. Indiana has no distinct professional-LLC (PLLC) statute; licensed professionals typically form a standard LLC or, if they choose a corporate structure, a professional corporation under Indiana Code 23-1.5.
Does Indiana require LLCs to publish a formation notice?
No. Indiana does not require newspaper publication to form an LLC.
How do I get a certificate of good standing in Indiana?
Order a Certificate of Existence from the Indiana Secretary of State for $11. Banks, lenders and other states often ask for one as proof your LLC is current with the state.
How do I register a foreign LLC in Indiana?
An LLC formed in another state registers to do business in Indiana by filing the Foreign Registration Statement with the Indiana Secretary of State. The fee is $125, and the LLC needs an Indiana registered agent. A foreign Master LLC (series LLC) pays a $250 Indiana foreign-registration fee, instead of the standard $125.
How do I amend my Indiana LLC?
File the Articles of Amendment of the Articles of Organization with the Indiana Secretary of State for $30. Amend when you change your LLC's name or other information in the formation document.
How do I dissolve an LLC in Indiana?
File the Articles of Dissolution of a Limited Liability Company with the Indiana Secretary of State for $30. Before you file, wind up the business: pay debts, close tax accounts and distribute what is left to the members.
How do I file a DBA for my Indiana LLC?
File a Certification of Assumed Business Name with the Indiana Secretary of State for $30 per name before you use the name. A DBA lets your LLC trade under another name without forming a new company.
Can my Indiana LLC be taxed as an S corporation?
Yes. An eligible LLC can elect S corporation tax status by filing IRS Form 2553. The election can reduce self-employment tax once profits are high enough to pay yourself a reasonable salary. Indiana taxes an LLC as a pass-through entity by default, so profits flow to the members' Indiana adjusted gross income tax returns. An eligible LLC can instead elect Indiana's Pass Through Entity Tax (PTET) to pay Indiana tax at the entity level.
What are the benefits of forming an LLC in Indiana?
An LLC separates your personal assets from business debts and lawsuits, keeps pass-through taxation, and needs less paperwork than a corporation. In Indiana it costs $100 to form and the Indiana Business Entity Report is $50 every two years.
LLC vs sole proprietorship in Indiana: which is better?
A sole proprietorship costs nothing to start, but you are personally liable for the business's debts. An Indiana LLC costs $100 to form and protects your personal assets, with the same pass-through taxes by default.
Should I form my LLC in Delaware or Wyoming instead of Indiana?
Usually not if your business operates in Indiana. An out-of-state LLC doing business here must also register as a foreign LLC in Indiana for $125 and keep an Indiana registered agent, so you pay two states' fees.
Does LLC Register charge a separate fee to form an Indiana LLC?
No. Formation is included in the $99-a-year Indiana registered agent service. The state still charges its $100 filing fee, which we pass through at cost.
What does LLC Register include with an Indiana LLC?
For $99 a year plus the $100 state fee: Indiana LLC formation in year one, an Indiana registered agent, an operating agreement, and filing of your Indiana Business Entity Report every year. Renewal is $99 a year. State fees are passed through at cost.
Does my Indiana LLC need to file a BOI report with FinCEN?
No. FinCEN has exempted companies created in the United States from beneficial ownership information (BOI) reporting. Only foreign companies registered to do business in a U.S. state still have to report.
Which state agency handles LLC filings in Indiana?
The Indiana Secretary of State, Business Services Division, handles LLC formations, amendments and annual filings. Its office is at 302 West Washington Street, Room E-018, Indianapolis, IN 46204.
Do I need a separate bank account for my Indiana LLC?
Yes, you should. Mixing business and personal money can weaken the liability protection your LLC gives you. Banks usually ask for your filed Articles of Organization, your EIN and your operating agreement.
Complete Indiana LLC Glossary
The terms, documents and filings you will meet when forming an Indiana LLC.
Annual report
A recurring filing that keeps your LLC in good standing with the state. In Indiana it is the Indiana Business Entity Report, due in your LLC's anniversary month, every other year (biennially).
Articles of Organization
The document filed with the state to create an LLC. Some states call it a Certificate of Formation; in Indiana it is the Articles of Organization.
Assumed name (DBA)
A trade name your LLC uses instead of its legal name. In Indiana you file a Certification of Assumed Business Name (All Entities).
Banking resolution
A document authorizing who may open and run the LLC's bank accounts.
Certificate of good standing
Proof from the state that your LLC exists and is current on its filings and fees. In Indiana it is the Certificate of Existence.
Dissolution
Formally closing an LLC with the state. In Indiana you file the Articles of Dissolution of a Limited Liability Company.
EIN
Employer Identification Number: the nine-digit federal tax ID the IRS issues to a business.
Foreign qualification
Registering an LLC formed in another state so it can do business in Indiana, through the Foreign Registration Statement.
Franchise tax
A state tax some states charge for the privilege of doing business there. Indiana has no franchise or privilege tax on LLCs. Indiana's Financial Institutions Tax, which functions like a franchise tax, applies only to banks and other financial institutions.
Indiana Business Flexibility Act (Indiana Code Title 23, Article 18), with general filing provisions recodified in Indiana Code 23-0.5
The Indiana law that governs how LLCs are formed, run and dissolved.
Limited liability
The legal protection that keeps the owners' personal assets separate from the LLC's debts and lawsuits.
Manager-managed LLC
An LLC run by appointed managers rather than by all of its members.
Member
An owner of an LLC. An LLC can have one member or many, and members can be people or companies.
Member-managed LLC
An LLC run directly by its owners, the members.
Operating agreement
The internal contract that sets out an LLC's ownership, voting, profits and what happens when a member leaves.
Pass-through taxation
The default federal tax treatment of an LLC: profits pass to the owners' personal returns instead of being taxed at the company level.
Professional LLC (PLLC)
An LLC for licensed professionals such as doctors, lawyers or accountants. Not offered as a separate entity in Indiana.
Registered agent
The person or company with a physical Indiana address named to receive legal papers and state mail for the LLC.
S corporation election
A federal tax election, made on IRS Form 2553, that lets an eligible LLC be taxed as an S corporation.
Series LLC
An LLC divided into separate series, each with its own assets and liabilities. Allowed in Indiana.
Single-member LLC
An LLC with one owner. By default the IRS taxes it like a sole proprietorship.
