How to Open and Close a Business
April 27, 2015
Opening a Business
When it comes to opening a new business in Indiana, it’s important to determine whether you need to register your business with the Indiana Department of Revenue.
You will need to register your business if you:
- Will be selling products or tangible items
- Have employees
- Sell food and beverages
- Rent accommodations for less than 30 days
- Rent motor vehicles
- Sell tires
- Sell fireworks
- Sell prepaid wireless cards
To register your business with the department, you must submit a Business Tax Application (BT-1). This form allows you to set up the appropriate tax accounts for your business. You must complete a separate BT-1 for each location you would like to register. If you would like to consolidate tax filings for all or some of your locations, you should complete Form BT-1C.
The department understands that business owners are experts in their trade but don’t necessarily have an interest in or extensive knowledge of taxes. To help businesses start strong, the department offers a number of resources from specialized presentations to online resources by business type.
Closing a Business
If you close your business, you’ll need to close your business-tax accounts with the department. To do so, complete a Business Tax Closure Request (BC-100). You must complete a BC-100 for each location to be closed.
To verify the business closure, you must include one or more of the following:
- Minutes of the final board of directors meeting
- Records of bank accounts closed
- Articles of dissolution
- Notarized statement of dissolution from an officer of the business
- Final utility bills
- Proof of dissolution filed with the Internal Revenue Service
- Books and records
- Other pertinent information
Completed forms and documentation should be faxed to 317-232-1021 or mailed to:
Indiana Department of Revenue
Tax Administration Processing
P.O. Box 6197
Indianapolis, IN 46206-6197
If you need assistance opening or closing a business, please contact the department at 317-233-4015.
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