Corporate taxes are complicated.
Once Articles of Incorporation are filed, the corporation assumes all liabilities and debts of the company. But the income from the corporation is taxed. The corporate entity is taxed, and individual income taxes are withheld from employees’ wages. The same is true for corporate shareholders when dividends are distributed from their shareholdings in the company.
You will need to register your corporation if:
- You will be selling products or tangible items (sales tax)
- You have employees (withholding tax)
- You sell food and beverages (sales tax and food-and-beverage tax)
- You rent accommodations for less than 30 days (innkeeper's tax)
- You rent motor vehicles (motor vehicle rental tax)
- You distribute gasoline or special fuel (prepaid fuel tax)
- You sell tires (tire fee)
- You sell fireworks (safety fee)
To register a corporation with the Indiana Department of Revenue (DOR), visit INBiz.
Jackson Conventions Inc. is a convention center in Rockport. The company has an area where they sell concessions in addition to renting booth areas for convention attendees. The company employs several hundred people to manage and run the facilities. The company will need to register for withholding tax, sales tax, food-and-beverage tax and county innkeeper’s tax via INBiz. Sales tax and food-and-beverage tax should be added to the purchase of any concessions, and the employees must all have withholding tax paid from their salaries. Since the corporation operates in Spencer County, they must collect innkeeper's tax and a food-and-beverage tax. At the end of the year, the corporation must file taxes as well as pass out W-2s for all it's employees.
This example shows some of the many possibilities for corporation. It is not meant to provide advice for organizing your business.
For additional help registering your corporation, you may e-mail the DOR or call us at 317-233-4015.
- Corporate Income Taxes
- Extension of Time to File Indiana Corporation Income Tax Returns and Recognition of the Federal Extension Of Time To File Indiana Corporation Income Tax Returns
- INTax - File and Pay Various Business Tax Types and Much More
- Indiana Corporate Estimated Income Tax Payments
- Indiana Small Business Development Center
- Indiana Secretary of State
- Information on Corporations from the Internal Revenue Service
- IRS Small Business and Self-Employed Tax Center
- Indiana Current Year Tax Forms
- Frequently Asked Questions