How to Open and Close a Business
May 24, 2017
Opening a Business
When 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 of Revenue, start by registering through the Secretary of State’s INBiz website at https://inbiz.in.gov/BOS/Home/Index. INBiz is a cooperative effort among several agencies to provide a one-stop source for business owners.
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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