Articles of Incorporation Indiana: Everything You Need to Know
Articles of Incorporation Indiana are legal documents that are used to form a corporation in Indiana.3 min read
2. Quick Facts about Incorporating
3. Guidelines in Filing Articles of Incorporation for a Business Corporation or a Non-Profit Corporation
Articles of Incorporation and Filing
Articles of Incorporation Indiana are legal documents that are used to form a corporation in Indiana. The first step of starting a non-profit or business corporation is filing your Articles of Incorporation. When your Articles of Incorporation are approved, your corporation will be created as a legal entity and your corporation's name will be secured.
Approval of your Articles of Incorporation is necessary to:
- Request a tax identification number.
- Acquire business licenses.
- Sign legal contracts.
- Engage in normal business operations.
The benefits of forming a corporation include:
- Lending credibility to your business.
- Shielding the members of your business from liability.
- Helping you fulfill requirements for registering your business.
In certain states, you will be provided with a corporate charter or certificate of incorporation after your corporations">Articles of Incorporation have been approved. Every state has minimum requirements for filing your Articles of Incorporation, and you will usually have access to a standard form you can use to file.
Typically, your Articles of Incorporation will include:
- The state where your corporation will be formed.
- How long you intend your corporation to last.
- Your corporation's purpose.
- Your corporation's powers.
- The name of your registered agent and their office address.
- A statement that your registered agent has accepted the role.
- Your corporation's mailing address and office address.
- Your corporation's authorized share of stock, including information about the par value of the shares and the available stock classes.
- The officers and directors of your corporation.
- Adoption of corporate bylaws.
- Procedures for dissolution.
- Language indemnifying your directors in officers.
- Information about the incorporator.
- Information about correspondence.
Quick Facts about Incorporating
When filing Articles of Incorporation, profit corporations will need to pay $80 when filing online and $90 when filing by mail. Non-profit corporations will pay a $25 online filing fee or a $30 mail filing fee.
The amount of time necessary to process Articles of Incorporation depends on the filing method. Those filing online can expect a processing period of a few hours. When filing in person or via express mail, processing will take one business day. The processing time for standard mail is three to five business days, and filing by fax includes a twenty-four-hour processing period.
Articles of Incorporation are processed by the Indiana Secretary of State Business Services Division. Forming a non-profit corporation in Indiana only requires filing Articles of Incorporation forms designated for a non-profit. For-profit businesses are required to file a biennial report. This report will be due on the last day of the month where the business was incorporated. There is a $30 paper filing fee and a $20 online filing fee.
Guidelines in Filing Articles of Incorporation for a Business Corporation or a Non-Profit Corporation
Certain professionals are allowed to form a professional corporation in Indiana, including:
- Healthcare professionals
- Real estate professionals
It is important to specify whether you are forming a professional corporation or a profit corporation. When forming a profit corporation, you must indicate you are following the provisions of Indiana Business Corporation Law. Professional corporations must follow the Indiana Professional Corporation Act 1983. You will need to select a name for your non-profit corporation or business. You will also need to disclose the principal office address of your business.
Including the name of your registered agent and the address of their registered office is required for both businesses and non-profits. Disclosing the number of shares that have been authorized is required when forming a corporation. Whether you are incorporating a business or a non-profit, you will need to name your incorporator. Your Articles of Incorporation will be effective as soon as they are filed by the Indiana Secretary of State. It is also possible to indicate a future effective date in your Articles of Incorporation.
While it is optional, most Articles of Incorporation will include a description of the corporation's purpose.
When incorporation a non-profit corporation, you will need to decide if your corporation is intended for religious purposes, mutual benefit, or public benefit. You will also need to disclose if your non-profit will have members. A non-profit corporation's members serve the same purpose as the shareholders of a business. It is also important to disclose your corporation's procedure for distributing assets in the case of dissolution.
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