Fractional CFO Services in Indianapolis

No. Payment timing and interest on private jobs come from the contract, and private retainage has no statutory cap or timing rule. A subcontractor's protection is the mechanic's lien and a written notice to the owner, which makes the owner personally liable for the claim up to what it owes or will owe the general contractor. Public work has its own payment and retainage rules.

On state public works, and on local public works over $200,000, the owner chooses one of two limits: up to 6% until the job is 50% complete and nothing further after that, or up to 3% until substantial completion. Retainage is held in an escrow account and paid within 61 days after substantial completion, less 200% of the value of any minor items left unfinished. Private retainage is whatever the contract says.

The sworn statement and notice of intent to hold a lien goes to the county recorder within 90 days after the claimant last performed work or furnished materials. The deadline is 60 days on one- and two-family homes and townhouses, while apartment buildings stay on 90. The claimant has one year from recording to sue to foreclose, or less if the owner serves a notice to sue. Commercial work needs no notice before the lien is recorded.

It depends on the contract. Under a lump-sum contract, the contractor is the consumer of its construction materials and pays sales or use tax when it buys them. Under a time-and-material contract, it buys materials exempt for resale and collects 7% from the customer on them, and labor on real property isn't taxed either way. See how a fractional controller works with construction companies.

Yes, for sales, use, food-and-beverage and innkeeper's taxes, though not income or withholding taxes. On a transfer made on or after February 14, 2024, of more than half of a business's tangible property and inventory, the buyer or seller notifies the Department of Revenue at least 45 days before the buyer takes possession or pays, and within 20 days the department sends a tax clearance letter or a summary of what the seller owes. Without the notice, the buyer is liable for those unpaid taxes up to the purchase price, and with it, for any amount on the summary the buyer doesn't withhold and remit. See how we work with newly acquired businesses.

Yes. A partnership or S corporation can elect, one year at a time, to pay tax at the entity level at the individual rate, 2.95% for 2026, and its owners get a refundable credit. The election is made on the entity's return by the extended due date and can't be revoked, but the tax is due by the original due date. Partnerships and S corporations also have to withhold for, or file composite returns for, owners who live outside Indiana.

Once, if its business personal property in a county cost less than $2,000,000 in total. The company declares the exemption on Form 102 or 103, and no return is required after that while it still qualifies. A company at or over the threshold files by May 15, and the assessor can grant up to 30 more days if asked before the deadline. Inventory isn't taxed.

Yes. The regular credit is 15% of the first $1,000,000 of Indiana qualified research spending above a base amount and 10% of the rest, and an elective simplified method pays 10% of spending above half the prior three-year average. The credit is nonrefundable and carries forward 10 years, with no carryback. It passes through to owners, and it stays in place even if the federal research credit expires.