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Indiana allows LLCs to be taxed as corporations, if members choose. This means that the company will pay Indianas corporate rate of 4.9% rather than passing through its profits and losses to be filed on the owners personal taxes.
Professional services businesses Indiana allows professionals, such as accountants, attorneys, and physicians, to form an LLC. Indianas statutes do not provide for a professional limited liability company (PLLC).
Indiana LLC Organizers: An Indiana limited liability company can be formed by one (1) or more organizers. Indiana LLC Members: Indiana LLCs require 1 or more members.
Professional corporations are those owned and operated by licensed professionals, like doctors, lawyers, and architects.
A PLLC is a kind of LLC specifically for licensed professionals. The difference between an LLC and a PLLC is mainly that only licensed professionals such as architects, doctors, lawyers and accountants can form PLLCs. Check with your state to determine if they permit licensed professionals to form a standard LLC.
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Please be advised: Due to statute changes in Illinois for LLC, all businesses listed as LLCs providing professional services licensed by the Illinois Department of Financial and Professional Regulation (IDFPR) are now required to register as a Professional Limited Liability Company (PLLC) with the Illinois Secretary
Most states do not require LLCs to have this document, so many LLCs choose not to draft one. While it may not be a requirement to have an operating agreement, its actually in the best interest of an LLC to draft one. And by drafting it, Im referring to creating a written operating agreement.
Unlike your LLC Formation Agreement, you are not required to file an operating agreement with the State of Indiana. However, as an internal document, a copy should be kept with your records. The operating agreement names the members of the company and spells out what percentage, or membership interest, they own.
Just follow these six steps, and youll be on your way. Name Your Indiana LLC. Choose Your Registered Agent. Prepare and File Articles of Organization. Receive a Certificate From the State. Create an Operating Agreement. Get an Employer Identification Number.
Disadvantages of creating an LLC Cost: An LLC usually costs more to form and maintain than a sole proprietorship or general partnership. States charge an initial formation fee. Transferable ownership. Ownership in an LLC is often harder to transfer than with a corporation.

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