Starting a business in Indiana
May 14, 2007
Since I’m off digging through all the new tax legislation and figuring out how that will affect your tax return next year, I’ve turned over the reigns of Tax Talk this week to Dale, our resident business-tax guru. (We “gurus” tend to flock together.) Dale will kick off the first installment in our summer business-tax series. In the coming weeks Dale and others will tackle topics on different types of business filings, how to pay tax, available online tools, etc. So, without further adieu, heeeeere’s Dale.
So you’ve decided to start a business in Indiana. Whew! Just the thought of all the hoops you’ll have to jump through can make your head spin. Today we’re going to talk about one of those “hoops” … the Department of Revenue’s business registration form. That’s right, Indiana’s Business Tax Application, Form BT-1.
You’ll probably need to register your business with us (on Form BT-1) if you plan on hiring employees and/or selling tangible personal property (otherwise known as “stuff” – things you can touch, feel, grab). With Form BT-1 you can also register to collect:
- A food and beverage tax (if you sell food and beverages, contact your county auditor to see if this tax applies to your business)
- A county innkeepers tax if you rent or lease hotel/motel rooms for periods of less than 30 days
- A motor vehicle excise tax if you rent or lease a motor vehicle for less than 30 days
- A tire fee if you sell new replacement tires and/or new tires mounted on motor vehicles
Form BT-1 can also be used to register for a prepaid sales tax permit if you are a qualified distributor of gasoline and other fuel products. This registration requires a $100 registration fee.
Speaking of fees, the only other fee collected on the BT-1 is $25 if you register to collect sales tax (on that “stuff” you’ll be selling). All other registrations are fee free (go ahead, say that five times real fast … fee free, fee free …).
As you can see, the BT-1 is a multipurpose business registration form which consolidates needed information onto one filing. You can even register online at https://secure.in.gov/apps/dor/bt1/ and begin business operations today. Today? Yes, today!
Now, get the BT-1 completed and you can move on to the next hoop. To possibly reduce the number of unnecessary hoops, I suggest checking out An Entrepreneur's Guide to Starting A Business in Indiana at www.in.gov/sos/business/corps/guide.html This Web covers topics such as Choosing a Structure and Forming Your Business, Business Owner’s Guide to State Government, etc.
And of course if you get confused along the way about the tax issues, give us a call at (317) 233-4015 and we’ll be happy to help. Congratulations on starting your new business, and for helping to fuel Indiana’s economic recovery!
- What does the state require to start a business?
- How can I check on my State income tax refund?
- How do I obtain a state tax number to collect sales tax?
- Who can I contact about Indiana income tax?
- Where do I go for tax forms?
- Where is my state tax refund?
- I filed my Indiana tax return. I owe, but am unable to pay at this time. What sh...
- I worked in Indiana six months. Then I worked six months in another state. How s...
- Know when I will receive my tax refund.
- File a part-year Indiana tax return.
- File my taxes as an Indiana resident while I am in the military, but my spouse is not an Indiana resident.
- Take the renter's deduction.
- Pay my tax bill in installments.
- Claim a gambling loss on my Indiana return.
- Have more time to file my taxes and I think I will owe the Department.
Welcome to Tax Talk, hosted by DiB (dye-bee), the Indiana Department of Revenue’s individual income tax guru. DiB, who says she’s been with the Department “since the earth cooled” (though it’s actually 30+ years), writes and develops Indiana’s individual income-tax instruction booklets and forms. DiB created Tax Talk to address Indiana individual income tax questions and issues during the filing season. If you would like to submit a question or topic suggestions, please send those to DiB at feedback@dor.in.gov
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