Agriculture. Oil. Route 66 and sports. Oklahoma is known for many things including country and western music.
You’ve chosen to take the leap and are wondering how to establish an Oklahoma LLC. But what’s the next step? And what will the cost be? Below, we’ve outlined the procedures you’ll need to follow, as well as the costs and paperwork necessary for Oklahoma firms.
In addition to its many other advantages, a limited liability corporation (LLC) provides small enterprises with protection from legal responsibility and favorable tax treatment. If an LLC is the perfect company structure for you, take these steps to form an Oklahoma LLC.
Note that you have the option of forming the limited liability company (LLC) yourself, or you may hire a professional company incorporation firm to do all of the legwork on your behalf.
1. Give Your Oklahoma LLC a Unique Name
When choosing a name for a limited liability company (LLC) in the state of Oklahoma, there are two primary rules that must be followed:
- The name of a limited liability company (LLC) must be able to be differentiated from the names of other business organizations already registered with the Oklahoma Secretary of State.
- The name of a limited liability company (LLC) has to include one of the following examples or abbreviations: “Limited Liability Company,” “Limited Company,” “LC,” “L.C.,” “LLC,” or “L.L.C.” are all abbreviations for “Limited Liability Corporation.” It is OK to use the abbreviations “Co.” and “Ltd.” in place of the full terms “Company” and “Limited,” respectively.
Check to see whether the name is available
Through a check of the Oklahoma Secretary of State’s Business Entity Database, you may determine whether or not the name you’ve selected for your LLC is eligible for use in Oklahoma.
Make a name reservation for your LLC with the Secretary of the State.
It is a good idea to reserve the name of your limited liability company (LLC) with the Oklahoma Secretary of State since doing so prevents any other company operating in the state from applying for it before you are ready to submit the Articles of Organization.
You may submit an Application for Reservation of Name to the Secretary of State either online or by mailing in a paper copy. The filing cost for a reservation application is ten dollars.
2. Opt for a Registered Agent in the State of Oklahoma
Every limited liability company (LLC) in Oklahoma is required to establish a local agent where legal documents may be served. If the limited liability company (LLC) is taken to court, this refers to a person or company that has agreed to accept service of process on its behalf.
It is possible for the Registered Agent to be either a resident of Oklahoma or a legal entity that is permitted to do service in Oklahoma. It is required that the Registered Agent have a real, physical address in the state of Oklahoma.
What does an Oklahoma Registered Agent do?
A Registered Agent is a person or corporate organization responsible for receiving tax forms, legal papers, notification of litigation, and formal government communication on behalf of your company. Consider the role of your registered agent as that of the point of contact for your company with the state.
Who is eligible to serve as a Registered Agent?
A Registered Agent in Oklahoma has to be either a person who lives in the state on a permanent basis or a company that is permitted to operate in Oklahoma and acts in the capacity of a Registered Agent service. You have the option of selecting anybody who works for the organization, including yourself.
3. Publish your company’s articles of incorporation.
Your limited liability company (LLC) will be formally recognized after you have a document called the Articles of Organization that lays forth fundamental information about your business. Because this form serves as the legal registration for your company with the state, it is essential that all of the details be accurate.
What should be included in a company’s Articles of Organization?
When completing the Articles of Organization for your Oklahoma LLC, you are required to give the following information:
- LLC’s name
- If the term of the LLC is permanent or restricted.
- Address of the main office of the limited liability company Name and mailing address of the registered agent for the limited liability company
- Location at which the State’s Secretary should send notifications to the limited liability company (LLC) through mail.
- How the Limited Liability Company (LLC) will be run: by its members or by its managers
- Whether or whether the limited liability company will offer professional services
- Name and address of each person who organized the limited liability company, as well as the name and residence of at least one member or management who has direct knowledge of the activities of the limited liability company.
Submission of Your Organization’s Articles of Incorporation
The filing of Articles of Organization of an Oklahoma Limited Liability Company with the Secretary of State results in the formation of an Oklahoma limited liability company (LLC).
Either online via the portal dedicated to entity filing maintained by the Oklahoma Secretary of State or through the mail may be used to submit the articles. The filing cost is one hundred dollars.
Foreign limited liability companies, often known as LLCs that were founded in a different state, and that want to do business in Oklahoma are required to register with the Oklahoma Secretary of State either digitally or by mail. The filing cost is three hundred dollars.
4. Obtain a Certificate From the Government of Your State
After the formation paperwork of the LLC has been submitted and authorized, the state will send you a certificate that proves the LLC’s official existence in response to a written request for a copy together with the appropriate amount of postage.
With this certificate, the limited liability company will be able to get an Employer Identification Number (EIN), as well as business permits and checking accounts for businesses.
5. Draft an Operating Agreement for Your Company
Even while establishing a detailed operating agreement for an LLC is not a legally required stage in the process of incorporating a limited liability company in Oklahoma, it is highly suggested for all new limited liability firms.
The following items should be included in the operating agreement:
Describe the business structure of the limited liability company.
Determine the specific duties and commitments that each member of the limited liability company (LLC) has, and lay out the operational structure of the LLC.
A limited liability corporation (LLC) may face legal and practical issues without an operating agreement.
6. Obtain an EIN tax number
A number of limited liability companies (LLCs) will be required to get a Federal Employer Identification Number (EIN), often known as a tax ID number.
An Employer Identification Number (EIN) is a nine-digit number that identifies your company to the Internal Revenue Service. You need an EIN in order to pay federal employer taxes, open a bank account (in most situations), or recruit staff.
On the website of the Internal Revenue Service (IRS), which is accessible without charge, you may check to see whether you need an EIN and submit an application for one online. Single-member limited liability companies, which are an exemption to the rule that most firms are required to acquire an EIN, may instead use the owner’s Social Security number.
Business Licensing requirements
Depending on the nature of their operations and where they are located, some limited liability companies (LLCs) doing business in Oklahoma may be needed to get one or more special permits or permits from the state or from their respective municipal governments.
Go through the Oklahoma Begin a Business Guide, which is made available by the Secretary of State, in order to get information on how to satisfy the criteria for obtaining a state business license. The Oklahoma License Directory allows users to search for specific licenses that they need.
Contact the municipal or county clerk where your LLC is situated for local licensing requirements.
7. Complete and file your Annual Renewals
Each year, by the anniversary of the start date of the Articles of Organization or of its permission to do business in the state, all limited liability companies that conduct business in Oklahoma are required to submit an annual certificate (which is comparable to the annual report that is required to be submitted in many states) to the Secretary of State (foreign LLCs).
Either via the Secretary of State’s Entity Filing web application or by mail, the yearly certificate may be submitted for filing at any time. The charge to submit paperwork is $25.
Business Licensing and Permits required
Your limited liability company (LLC) could be required to get additional state and local business licenses, depending on the kind of business it conducts and the location at which it operates. Check with the clerk of the city in which the LLC’s principal place of business is situated to see what kinds of local licenses are available.
You may get information on state licenses in the area of the website maintained by the Oklahoma Department of Commerce that is devoted to Business Registration & Operating Requirements.
Fees and procedures
The filing of the Articles of Organization with the Oklahoma Secretary of State’s office will cost you $100, the reserve of an LLC name will cost you $10, and an Annual Certificate will cost you $25 per year.
Consider the following additional fees that may be incurred by an LLC:
- Reserving a Name for an LLC
- Doing Business As name
- Copy of certified documents
- Certificate of Existence
When you register a limited liability company (LLC), you establish a legal basis upon which to operate your firm. Companies should make it a priority to maintain their limited liability company in compliance with state regulations and in an active position on the state’s website.
In addition, having a registered limited liability company enables you to perform the following:
- Obtain any permissions or licenses that are required to run your business, such as those issued by the health department, the zoning department, the department of home occupations, the department of professional licensing, and so on. Some states need a seller’s permission to conduct sales
- Register your company with the department of revenue in your state.
- Create a bank account for your company using a service like Novo or Kabbage.
- Create a credit card account for your company.
- Invest in insurance coverage for your company.
- Create a trademark to protect both your company’s name and its logo.
LLC setup by the professionals or yourself?
To establish a limited liability company (LLC), you are not required by law to consult a lawyer. The majority of states enable the establishment of LLCs via the process of registering the business entity on the website of the secretary of state and the IRS.
If you are not acquainted with the process of forming an LLC, your best bet may be to invest in a professional LLC provider so that you can be certain that the creation will go smoothly and quickly.
When entrepreneurs start a new firm, they may save startup costs and save valuable time by using a professional agency that specializes in company forms.
They can take care of the things that you may not have time to think about for a price ranging from $50 to over $500, and some examples of such things are as follows:
- Developing an operating agreement for an LLC that details your company’s who, what, when, where, why, and how, and putting it into writing (required in some states).
- putting together articles of incorporation that identify the management of the LLC, the registration agent, and the date the company was formed.
- Taking up the role of registered agent for your firm.
- Keeping careful records in the event that there are investigations or litigation.
- payment of filing fees and registration with the appropriate parties.
- Registering the name of your firm and ensuring that the name you choose for your limited liability company is accessible.
- Finishing up and turning in all of the necessary legal and formation documentation.
How much does it cost to form an LLC in Oklahoma?
In Oklahoma, the charge for submitting the Articles of Organization to establish a limited liability company (LLC) is $100, the fee for reserving an LLC name is $10, and the fee for an Annual Certificate is $25 each year.
How long does it take to get LLC authorized in Oklahoma?
Oklahoma LLC approvals may take three to four weeks if paperwork is sent, but just one to two days if submitted online. An LLC mail approval includes stamped and approved Articles of Organization, a receipt, and a Certificate of Organization.
How do I go about obtaining a tax ID number in Oklahoma?
You are required to register with the Oklahoma Tax Commission online in order to get a tax ID number in the state of Oklahoma. If you already have a Withholding Tax Account ID, the Oklahoma Tax Commission will provide you with this number in any communication that they send your way.
Tom is the founder of Gottagrow.io. He reads the offers, deciphers the details including features, pricing, included services and more to find you the best products and services.