To form an LLC in Oklahoma, you must first file the Articles of Organization. Your Articles of Organization can be filed online, by mail, or in person. To create an Oklahoma LLC, you will need the articles of organization.
The Cost To Form An LLC In Oklahoma is $100.
Then, you will need to follow this step-by-step guide to creating an Oklahoma LLC. Here are the steps you need to follow to form an LLC in Oklahoma.
Step 1: Naming the LLC
Step 2 Choosing a Registered agent
Step 3: Filling the Articles of Organization
Step 4: Create an Operating Agreement
Step 5: Applying for an EIN (Employer Identification number)
Name your Oklahoma LLC
The first and most crucial step in forming an LLC in Oklahoma is choosing a name. It is essential to ensure that the name you prefer to create an LLC in Oklahoma is compliant with Oklahoma’s naming requirements. Potential customers and clients will be able to find it easily.
Follow the Oklahoma naming guidelines.
Your Oklahoma LLC name must include the phrase “limited liability corporation” or one of the related abbreviations, such as L.L.C. or L.L.C. You cannot have words in your Oklahoma LLC that could confuse it with other government agencies like the CIA, FBI Treasury, State Department of Treasury.
Any restricted words, such as “Bank,” “Attorney,” and “University,” may need additional paperwork. You will also need to have a licensed person such as a lawyer or doctor as part of your LLC. Your name must be distinct from other Oklahoma LLCs in Oklahoma. Limited partnership, limited liability partnership, or corporation.
Name availability for your LLC in Oklahoma
Also, make sure that the name you are interested in is available. You can search for Oklahoma LLCs using the Secretary Of State’s website to verify that your desired name is not taken.
You should also check if your website URL is available. You should check online to see if your business name is available as a website domain. Even if your goal is not to create a website for your business today, it may be worthwhile in the future to do so to protect yourself from others trying to acquire it.
Choose a registered agent to represent your Oklahoma LLC.
Oklahoma requires that you nominate an Oklahoma registered agent for your LLC. You can select an individual or a business entity to be your registered agent. They will receive important documents like tax forms, legal documents, and notices of lawsuits. Your Oklahoma registered agent will be responsible for receiving official government correspondence on behalf of your Oklahoma LLC. Your Oklahoma registered agent should be considered your point of contact with the Oklahoma Secretary of State.
An individual or business entity must meet specific requirements to become an Oklahoma registered agent. A resident of Oklahoma is required to register as an Oklahoma registered agent. You can also select an individual to your Oklahoma LLC as a registered agent. This includes you.
A professional registered agent service offers many benefits, including anonymity, peace of mind, and the ability to dedicate more time and effort to growing your business.
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You must be available during business hours to receive official notifications at your registered agent address. A registered agent service allows you to focus on your business rather than keeping track of deadlines or being available during business hours.
For your Oklahoma LLC, file the Articles of Organization.
To register your Oklahoma LLC, you must first file the Articles of Organization at the Oklahoma Secretary of State. Your articles of organization can be filed online at the Oklahoma Secretary-of-State website or by post. This is also a good time to decide whether your Oklahoma LLC will have members-managed or manager-managed.
The $100 fee charged by the Secretary of State is non-refundable. It would help if you mailed it in.
Oklahoma Secretary of State
421 N.W. 13th Suite 221
Oklahoma City, OK 733103
Here is a sample of Articles of Organization.
Establishing an Oklahoma LLC operating agreement
Although an operating agreement is not required by the Oklahoma secretary of state when you form an LLC, it is a good idea. An operating agreement, a legal document that outlines the ownership and operating procedures for an Oklahoma LLC, is required.
It is important to have an Operating Agreement. This agreement ensures that all business owners in Oklahoma LLC are on the same page. This reduces the chance of future conflicts.
To avoid future conflicts, an operating agreement should cover some of these topics.
The LLC’s members will be notified when the LLC is created. This will determine how ownership is divided. Limited liability companies with multiple members may use an equal ownership structure or assign different “units” of ownership to their members.
Management and voting
It is crucial to determine whether the Limited Liability Company will have its members manage it or an appointed manager. Also, how many members will be permitted to vote on business matters.
Although each member is entitled to one vote, you can give more power to certain members.
Contributions to Capital
You should know the amount that each member of the LLC has put into the business. Also, it would help if you took the time to plan how to raise additional funds in the future.
This section outlines how profits and losses from the LLC will be split among members. Most people prefer to share profits equally. You can also choose to split profits differently by putting the details into your operating agreement.
Modifications to the structure of membership
This section of the operating agreement outlines how ownership and roles will be transferred if a member leaves the LLC. It is crucial to outline the procedure for when a member replaces or buys out another member.
The last part of the operating arrangement is dissolution. If all members of your LLC decide they don’t want to continue the business, you should officially dissolve them. This section of the operating contract should outline the process for dissolving your business. It is an important part.
How to get an Oklahoma Employer Identification number
What is an Employer Identification Number EIN? An EIN is a nine-digit number that the IRS assigns to businesses to aid with tax identification. It can be used to compare it with a business’ Social Security number.
Your EIN may also be called a Federal Tax Identification Number or a Federal Employer Identification Number. To open a bank account in Oklahoma for your LLC, file and manage state and federal taxes, and hire any employees you might need, you will need an EIN.
Even if you have an EIN in Oklahoma for sole proprietorships, the Inland Revenue Service requires sole proprietorships to obtain a new EIN before converting to an Oklahoma LLC.
The Inland Revenue Service can provide a free EIN to you. It is easy to do online or by mail.
Separating personal assets and business assets
Once you have filed your articles of incorporation to the Oklahoma secretary-of-state, nominated your registered agent, and formed your Oklahoma LLC, it is time to separate your business and personal assets.
Because your personal and business accounts can be mixed, personal assets like your home, car and other valuables could be at risk if your Oklahoma LLC is sued. This is known as piercing the corporate veil under Business law.
These steps will help you protect your Oklahoma LLC.
Opening a business bank account
You can open a business checking account to allow you to separate your personal and company assets. This is an important step in protecting your personal assets. Accounting and tax filing are made easier because your business checking account will be able to track revenue and expenses.
Get a credit card for your business.
You can get a credit line for your LLC in Oklahoma to help you separate your personal and business expenses while building your credit history. This is a great way to raise capital, such as small business loans.
You can also take other steps to protect your corporate veil, such as correctly signing all legal documents required by your registered agent and documenting your company’s business activities.
Oklahoma LLC: Business account opening
For less experienced business owners, a business accountant can be a great asset in the operation of their Oklahoma LLC. A company accountant can help a business owner avoid overpaying for taxes and also assist the L.L.C with reducing fines, fees, and other costly tax errors.
A company accountant can simplify other tasks, such as payroll processing and bookkeeping. This will allow you to concentrate on your business growth. A company accountant will help you recognize areas of potential loss or additional benefit and help you manage your business finances.
Get business insurance for your Oklahoma LLC.
You can manage risks by getting business insurance for your Oklahoma LLC. This will allow you to focus on growing your business. There are three types of commercial insurance.
With the help of business insurance, you can reduce risks and focus on growing your company. There are three types of Kansas business insurance you can purchase for your L.L.C.
General Liability Insurance: This comprehensive insurance policy protects the company from claims. It is the most commonly purchased type of insurance for small businesses.
Professional Liability Insurance: Professional Liability Insurance protects against malpractice and other business negligence claims for professionals such as accountants and consultants.
Workers’ Compensation Insurance: This type of insurance protects workers against illnesses, disabilities, and deaths that may occur while on the job. Oklahoma law requires that all companies employing one or more workers have worker’s compensation insurance.
Create a website to represent your LLC in Oklahoma
Establishing a legal LLC in Oklahoma begins with launching a website. A website is a must for every company, even if your business is small or not in the right industry. Without a website, your business is likely to lose a lot of potential clients and sales.
Some business owners may be skeptical about designing a website because they don’t have much experience in website building. Although this may have been a legitimate concern in 2015, web technology has improved significantly in recent years, making it much easier to create a website for small businesses. These are just a few of the reasons you should get involved.
Most legal firms have their own websites. It doesn’t matter how big or small your business is when having an online presence.
You should not use most social business accounts (e.g., Facebook pages or LinkedIn business profiles) to replace your business website.
To create your website, you can use tools such as GoDaddy Website Builder. This makes it very easy to build a basic site. You don’t have to hire a web designer or developer to create the website you desire.
After starting an LLC, promotions
After forming your LLC, you may engage in marketing activities to let other people know you are open for business. Press releases are one of the most effective and simple ways to promote your company.
A press release is one of the most cost-effective methods to market your company. It provides visibility, establishes the brand’s online presence, improves search engine optimization (SEO), and drives more customers to your site. This is a one-time initiative and financial investment that will reap long-term rewards.
Ensure that your Oklahoma LLC is compliant with the Secretary of States
Oklahoma licenses and permits
To ensure compliance with all federal, state, and local regulations, permits are required. Restaurants, for example, must obtain permits to get health permits and construction permits.
Each state has its own requirements for business licenses and permits. Would you please read the following carefully? You will also be charged different fees depending on which type of license you seek.
Oklahoma tax filing requirements
L.L.C.s should typically report their income to IRS using one of the two forms: a form 1065 Partnership Return, which is used most multi-member LLCs, or a form 1040 Schedule C used only by single-member LLCs.
For your Oklahoma LLC, you need to file an annual certificate
After LLC formation, the Secretary of State requires an annual certificate to be filed. This is also known as an annual report in other states.
Your annual certificate can be filed online with the Secretary or by mail. $25 is required to file your annual certificate. This fee is payable to the Secretary of State. The $25 annual certificate fee for Oklahoma LLC formation is non-refundable.
Your annual certificate will be available for you to mail.
Oklahoma Secretary of State
421 N.W. 13th
Oklahoma City, OK 733103
Annual certificates must be filed by the date of the Oklahoma LLC’s anniversary month.
You will not be charged any late fees if you miss the Oklahoma filing deadline. Oklahoma will cancel your “good standing” within 60 days. Oklahoma can dissolve your LLC if you fail to file an annual certificate within three years.
Failure to file state forms can lead to penalties and automatic dissolution. If this happens, LLC owners could lose their limited liability rights. A good registered agent service can help you avoid this by notifying you about imminent filing deadlines and sending reports on behalf you.
Hire employees for your Oklahoma LLC
To ensure compliance when you are recruiting staff, follow the steps below.
First, check that new employee are permitted to work in the United States. Then inform the Secretary-of-State about their status as a hire. You will then need to offer workers’ compensation benefits and withhold taxes from employees. Also, you must print workplace compliance posters visible in your Oklahoma LLC work area.
Certificate of good standing
A Certificate of Good Standing in Oklahoma ensures that your LLC was legally created and is current. Here are some examples of situations where you might need one:
Banks or other financial institutions may be interested in funding your business. This could include forming a foreign LLC or applying for new licenses or permits. You can obtain this certificate of good standing online for $20.
If you do not want to do business in the future with your Oklahoma LLC, it is essential to dissolve it legally. Failure to do this on time can result in fines and tax liability, as well as legal consequences. Two simple steps are required to dissolve an Oklahoma LLC.
First, close any business tax accounts related to your Oklahoma LLC. Next, file the Oklahoma Articles of Dissolution. This is an alternative form to the Articles of Organization.
Formation of an Oklahoma LLC
By creating an international LLC, your business can act as one entity in several states. If you have an existing LLC and wish to do business with Oklahoma, you must register an international LLC. You can do this by phone or mail.
The option of registering as a foreign LLC in Oklahoma is available. You can file online with the state or mail to request registration. A $300 non-refundable filing fee is due to the Secretary. This should be sent by mail.
Oklahoma Secretary of State
421 N.W. 13th
Oklahoma City, OK 733103
Q: What’s an LLC?
LLC stands for Limited Liability Company. This simple structure is simpler than a traditional entity and still offers many benefits.
Q: Do I need a DBA/Trade Name to run my business?
You don’t need a DBA to form an LLC. The name of the LLC can be used to identify your company, and you’ll accept checks or payments under your company’s brand.
If you are looking to do business under another name than your company’s, a DBA is the best option.
Q: Can I become my own registered agent?
You or any other person in your company can act as a registered agent for the Oklahoma LLC.
Q: Is it worth paying for a Registered Agent Service over having my own registered agent?
A professional Registered Agent service can make it easier to manage all government filings for your LLC. The reason is that professional services are more cost-effective than the annual filing fees and costs for most businesses.
Q: How long does it take to create an Oklahoma LLC?
The filing of the Articles of Organization can take up to two business days online or seven to ten business days by mail.
Q: What’s the difference between an Oklahoma LLC and a foreign LLC in Oklahoma?
A domestic LLC is an LLC that conducts business in the state where it was established. A person usually refers to an LLC as a domestic LLC. If an LLC wants to expand its business in another state, it must form a foreign LLC.
Q: Do I have to file an operating agreement with the secretary?
You don’t, but an operating agreement is an internal document you should keep in your possession for future reference.
Q: What is the best way to get an EIN (Employer Identification Number)?
To get an EIN, you don’t need a social security number. Fill out IRS Form SS-4, leaving section 7B blank. The IRS can be reached at (267) 941-1099 to complete your application.
Q: Which tax structure should I choose for my LLC?
You will receive your EIN from IRS. The IRS will inform you of the various tax classification options available. However, most LLCs in Oklahoma choose the default tax status. However, some LLCs in Oklahoma can choose the corporation (S Corp.) status to reduce their federal tax obligation.