What Indiana tax forms are required for a small business?


Quick Answer

The type of tax forms that an Indiana small business must file with the state depends on how the small business is organized. Indiana recognizes eight different types of small businesses as of 2015, according to the Indiana Department of Revenue.

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Full Answer

Indiana recognizes three types of small business partnerships, including general partnerships, limited liability partnerships and limited partnerships. Indiana taxes all partnerships the same way, using the IT-65 and the IT-40 or IT-40PNR tax forms, states the Department of Revenue.

The state also recognizes three types of corporations, including corporations, S corporations and non-profit corporations. Corporations file tax form IT-20. The state only taxes S corporations once, so the corporation files form IT-20S, and the shareholder files form IT-40 or IT-40PNR. Non-profit corporations must have tax-exempt status from the Internal Revenue Service and the Indiana Department of Revenue. It must first file form NP-20A, Application to File as a Non-Profit Organization, according to the Department of Revenue. Once the corporation has non-profit status, it files tax form IT-20NP or form NP-20.

The Indiana Department of Revenue also recognizes sole proprietorships and limited liability companies, as it states on its website. The sole proprietor files taxes using the IT-40 series of forms. A limited liability company uses tax forms IT-40, IT-40PNR or IT-65.

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