FOR IMMEDIATE RELEASE
October 27, 2010
INDIANAPOLIS – The price of starting a business in Indiana is going down this November following Indiana Secretary of State Todd Rokita’s recent action to decrease the registration start-up fees new business owners pay to the Business Services Division – a unit of the Secretary of State’s office.
Beginning in early November, the new business registration enhanced access fee will decrease from $10 to $5. Additionally, the enhanced access fee paid when a business purchases a certificate of existence drops from $4 to $2. The statutory fees, controlled by the General Assembly, remain the same and are among the lowest in the nation.
“We should be taking all possible steps to help get businesses to the launching pad, and reduce governmental obstacles to economic growth, especially the start-up costs that are levied on businesses,” Secretary Rokita said. “Small business owners will notice these fee reductions most. Every dollar they don’t have to turn over to government is a dollar that can be invested for future growth.”
The fees collected help fund the Business Services Division’s Enhanced Access Fund. This dedicated fund helps implement technology, without using general tax dollars, that produces better and more efficient service and most importantly substantially drives down costs. This has helped allow the office to operate on an appropriated budget that is the same or slightly less than it was in 1987 – unadjusted for inflation.
“In Indiana, the General Assembly sets tax rates and fee rates for nearly all state government functions,” said Secretary Rokita. “But recently we have wrestled away some flexibility to reduce costs to businesses, and so we are doing it. We have shown that we can provide better service and reduce costs, thereby allowing the productive sector to keep more of their money.”
The Enhanced Access Fund will continue to be used by the division for enhancements and other electronic or online initiatives – one time capital projects geared toward improving the efficiency of transactions between businesses and the state. These capital improvements produce year-after-year returns for businesses and taxpayers in the form of significant efficiency and time savings.
Secretary Rokita has determined that because sufficient large-scale capital projects have been completed, these costs paid by businesses can be reduced to levels commensurate with the low, ongoing technology maintenance costs.
According to statistics compiled by the division, more than 80 percent of businesses registered with the state use the online filing tools provided through the division’s website: www.in.gov/sos/business.
Media contact: Jim Gavin 317.233.8655 or firstname.lastname@example.org