{"id":3366,"date":"2016-04-21T14:20:26","date_gmt":"2016-04-21T21:20:26","guid":{"rendered":"http:\/\/evergreensmallbusiness.com\/?page_id=3366"},"modified":"2019-07-01T15:55:29","modified_gmt":"2019-07-01T22:55:29","slug":"setting-up-an-indiana-s-corporation","status":"publish","type":"page","link":"https:\/\/evergreensmallbusiness.com\/s-corporation-kits-for-all-fifty-states\/setting-up-an-indiana-s-corporation\/","title":{"rendered":"Setting up an Indiana S Corporation"},"content":{"rendered":"

\"indiana\"<\/a>Do you operate a small business based out of Indiana? Are you a US citizen or permanent resident? Have you ever heard of or wondered whether you should operate as a Subchapter S corporation?<\/p>\n

Here\u2019s a test you can use to make this determination: find your most recent individual tax return. Look at the self-employment taxes total shown on line 57 — this line appears about half way down page 2 of your 1040 tax return.<\/p>\n

Does that number have at least five digits in it? You probably want to consider operating your venture as an s-corporation. This\u00a0should let you avoid paying the 15.3% self-employment tax on some portion of your business profits.<\/p>\n

Note: You will need to pay yourself a reasonable amount as wages and these wages will be subject to self-employment taxes. However if you\u2019re paying a lot of self-employment taxes, probably not all of your profits need to be subjected to self-employment tax — that’s where your tax savings lie.<\/p>\n

If you decide you do want to set up an s-corporation, consider using one of our Indiana\u00a0S corporation kits. We actually publish two options\u2026 one that uses an LLC as the starting point (the LLC kit is what we recommend) and one that uses a corporation as the starting point.<\/p>\n

Our Indiana\u00a0S Corporation kit<\/h2>\n

The recommended LLC version of the kit is immediately below:<\/p>\n