You will need first to file the Articles of Organization to create an LLC in Oklahoma. The Articles of Organization can either be filed online, via mail, or in person. You will need to file your articles of organization to create your Oklahoma LLC.
Follow the steps to register an Oklahoma LLC. Below are the steps required to form an Oklahoma LLC.
Step 1 – Naming your LLC
Step 2 – Choosing a Registered Agency
Step 3 – Filing Articles of Organization
Step 4 – Create an Operating agreement
Step 5 – Obtaining an EIN (Employer Identification Number)
How Much Does An LLC Cost In Oklahoma?
The cost for an LLC in Oklahoma is $100.
Name your Oklahoma LLC
When forming your Oklahoma LLC, the first step is to choose a name. To form an LLC in Oklahoma, you must ensure that your chosen name is compliant with Oklahoma naming regulations and easily searchable by potential clients or customers.
Respect the Oklahoma naming guideline
You must include the phrase “limited responsibility company” in the name of your Oklahoma LLC. The Oklahoma LLC must not contain any words that could confuse your LLC and any government agencies, such as the CIA or FBI, Treasury, State Department, etc.
Additional paperwork may be required to include restricted words like “Bank,” “Attorney,” or “University” in your LLC. This could also require a licensed individual, such as a lawyer, doctor, or other professional. Your name must be distinguished from any other Oklahoma LLC in Oklahoma. Limited liability partnership, corporation, or limited partnership
Name availability of your LLC for Oklahoma
It is also important to ensure that the name you desire is available. To ensure that the name you are interested in isn’t already taken, you can use the Oklahoma Secretary of State’s site to search for an LLC.
Also, make sure you check whether your website’s URL is accessible. It is a good idea to check online whether your business name will be accessible as a domain. Even if you don’t plan on forming your business website right away, you might want to in the future so that you can prevent others from doing so.
Registering an agent for your Oklahoma LLC
Oklahoma law requires you to nominate an Oklahoma registered representative to your LLC. An individual or business entity can serve as a registered agent. This person will be responsible for receiving important documents, such as tax forms and legal documents. Your Oklahoma registered representative will also handle official correspondence for your Oklahoma LLC. As the Oklahoma Secretary-of-State’s point of contact, your Oklahoma registered agent is important.
However, there are certain requirements that an individual or business entity must fulfill to be an Oklahoma registered agent. Oklahoma residents are required to become registered agents. Oklahoma corporations, such as Oklahoma registered agents services, must also be Oklahoma residents. You will elect a registered agent for Oklahoma LLC.
The benefits of hiring a professional registered agent include anonymity, peace of mind, and the chance to spend more time and energy on growing your business.
The benefits of hiring a registered agent service include anonymity, peace of mind, and the chance to put more effort into growing your business.
A registered agent provides peace of mind that allows you to concentrate on the running of your business. Here are some ways a competent service can help to relax you:
To be your own registered agent, you will need to be available to receive official notifications at that address during normal business hours. Registering as a registered agent allows you to focus more on your business and not worry about meeting deadlines.
Filling out the Articles of Organization to your Oklahoma LLC
First, you need to file your Articles of Organization with the Oklahoma Secretary of State to register your Oklahoma LLC. You can either file your articles online via the Oklahoma Secretary of State website or by mail. Also, this is a time to check whether your Oklahoma LLC is member-managed and manager-managed.
The $100 fee charged by the Secretary for State is non-refundable. It should be sent to
Oklahoma Secretary Of State
421 N.W. 13th Suite 210
Oklahoma City (OK 73103).
Below is an example of the Articles of Organization form.
File the articles of organization to create your limited liability company.
| Agency: | Oklahoma Secretary of State – Business Filing Department |
| Form: | Oklahoma Limited Liability Company Forms and Procedures |
| Filing Method: | Mail, fax, in-person, or online |
| Agency Fee: | $100 + optional $25 expedite fee for in-person same-day service |
| Turnaround: | ~7-10 business days by mail. ~1 business day online or when filed in-person with a $25 expedite fee. |
| Law: | Title 18, §2000 et seq of the Oklahoma Statutes |
| Reference: | State of Oklahoma |
Visit the Oklahoma Secretary of State’s website for current fees and procedures
https://www.sos.ok.gov/
How to create an Oklahoma LLC operating contract.
While the Oklahoma Secretary of State does not require that an operating agreement be drawn up when forming an LLC, it’s a good idea to have one. Operating agreements are legal documents that help define an Oklahoma LLC’s ownership and the operating procedures.
The Operating Agreement is vital to ensure that Oklahoma LLC business owners are on the same page. It also reduces the likelihood of conflict in the future.
To avoid future conflicts, an operating agreement should contain some of the following topics.
Organization
How the LLC is divided is determined when it is formed. A multi-member limited liability company may have an equal ownership structure. Or, it might assign multiple members different “units of ownership.”
Voting and management
It is vital to know whether the Limited Liability Company’s members will manage it or an appointed manager. Additionally, you need to identify how many members are allowed to vote in business matters.
While each member has one vote, it is possible to give certain members more voting power as a rule.
Capital Contributions
Each member of the LLC should be able to disclose the amount they have invested in the business. It would help if you also made a plan for raising additional funds in the future.
Distribution
This section describes how profits and losses will be divided between the LLC members. It is common to divide profits evenly. If you wish to distribute profits differently, make sure you include the details in your operating contract.
Changes in the structure of members
This section of an operating agreement describes how ownership and roles are transferred in a member leaving the LLC. It is important to plan the process for any member who buys out or replaces another person in the operating agreement.
Dissolution
The dissolution is the final section of the operating agreement. This is an essential part of your operating agreement.
Get an Oklahoma Employer Identification No.
What is an EIN (Employer Identification Number)? EIN’s are nine-digit numbers that the IRS assigns to identify businesses for tax purposes. This number can be considered a Social Security number for business.
Sometimes, your EIN can be referred to as a Federal Tax Identification Number(FTIN) or a Federal Employer Identification Numbers (FEIN). An EIN is required to open an Oklahoma LLC bank account, manage your federal and state taxes, hire employees and file any other filings.
Inland Revenue Service will require sole proprietorships that have an EIN to Oklahoma to convert into Oklahoma LLCs.
You can get an EIN free of charge from the Inland Revenue Service. This can be done via mail or online.
Separating personal and business assets
It would help if you separated your personal and professional assets after filing your articles to the Oklahoma Secretary of State, successfully nominating your registered agents, and successfully forming your Oklahoma LLC.
This is because if you have personal and business accounts that are combined, your personal assets, such as your home, car, or other valuables, could be at stake in the event of a lawsuit against your Oklahoma LLC. This is called “piercing the corporate veil” in Business law.
The following steps can help protect your Oklahoma LLC.
Opening a Business Account
A business checking account will allow you to separate your personal assets and the assets of your Oklahoma company. This is vital for asset protection. This makes tax filing and accounting much simpler, as your business checking accounts will contain your revenue and expenses.
Get a credit line for your business.
A credit card can be used to create a credit history for your LLC in Oklahoma. It will allow you to separate your personal and business expenses. This is very useful if your goal is to raise capital for small business loans.
You can also protect your corporate veil by taking other steps, including properly signing any legal documents required to be signed by your registered agent or documenting company business operations.
Oklahoma LLC: Getting a business account
Business accountants can prove beneficial for less experienced business owners who want to run their Oklahoma LLC. The reason is that a company accountant could help the owner of a business avoid overpaying taxes while also helping the L.L.C reduce fees, fines, and other tax mistakes.
Company accountants can make other activities like bookkeeping and payroll easier, giving you more time to grow your business. You will be able to recognize any unexpected loss or extra benefit, which you wouldn’t have if you hadn’t hired a business accountant.
How to get business insurance for an Oklahoma LLC
Oklahoma LLC owners can get business insurance to protect them from potential risks. You will be able to manage your risks and focus on your business. There are three types of commercial insurance.
Business insurance will help you to manage risks and allow you to focus on your business. Kansas offers three main types of business insurance.
General Liability Insurance is: This insurance policy covers the company against any claims. It’s the most popular type of insurance that small businesses purchase.
Professional Liability Insurance: Professional Liability Insurance covers malpractice and other business negligence cases against professional service providers like accountants and consultants.
Worker’s Compensation Insurance is a type of insurance that protects workers from injuries, illnesses, or death while at work. Oklahoma law mandates that Oklahoma companies have workers’ compensation insurance.
Create a website for your LLC.
A website is the first step in establishing a legal LLC or corporation in Oklahoma. Even if your company is not large enough or offline, a website should be a top priority. You’re missing out on significant sales opportunities and clients if your website isn’t up-to-date.
Many business owners believe it would be difficult to design a website because they have never built one. While this concern may have been valid in 2015, web technology has made it easier for small business owners to develop a website. Here are some reasons to get involved.
A majority of legal businesses have their website. Your business size and industry do not matter when it comes down to having your website online.
Social business accounts such as Facebook pages and LinkedIn business profiles should not be used in place of a business website you own.
GoDaddy Website Builder makes it easy to create a website. A web developer or designer is not required to create the website you desire.
Promotional activities after an LLC is started.
You can use certain marketing activities after your LLC lets people know that you are open to business. The easiest and most effective way to promote your business is through a press release.
A press release can be one of the best ways to market your business because it gives visibility, establishes your brand online, improves your search engine optimization, drives more consumers to your website, and is both a one-time and long-term financial investment.
You must ensure that your Oklahoma LLC complies with the Secretary Of State
Oklahoma requires licenses and permits
The LLC must obtain permits to ensure compliance with local, state, and federal regulations. Restaurants are required to have health permits, construction permits, or other permits.
You will need to have a business license and permit for your LLC. The details vary from one state to the next. So make sure you read the information below. The type of license you’re seeking will impact the fees you pay.
Oklahoma Tax Filing Requirements
L.L.C.s will typically need to report income to the IRS using either a Form1065 Partnership Return, which most multimember LLCs can use, or Form1040 Schedule C, which single-member LLCs can use.
Filling out an annual certificate for Oklahoma LLC
The Secretary of state requires that an annual certificate is filed. A filing fee must be paid after LLC formation. In some states, this is called an annual report.
The Secretary of State allows you to either file your annual certificate online or mail it. $25 is required to file your annual certificate. This fee must be paid to the secretary. The $25 fee for filing your Oklahoma LLC annual certificate is non-refundable.
You can mail your annual certificate to
Oklahoma Secretary Of State
421 N.W. 13th
Suite 210
Oklahoma City (OK 73103).
Each year, the due date to file annual certificates is the last day of the month in which the Oklahoma LLC was established.
No late fees will be assessed if you miss the Oklahoma filing deadline. Oklahoma will cancel any “good standing” in less than 60 days. Oklahoma can dissolve or cancel your LLC after three consecutive years if not file an annual certification.
An (LLC) that fails to file one of the state forms may face fines or even automatic dissolution. In this case, LLC owners may lose limited liability rights. A registered agent service that is reliable and prompt in notifying you of filing deadlines and sending you reports will help you avoid this outcome.
Find employees to work for your Oklahoma LLC.
These are the guidelines to follow if you intend to hire staff.
Verify that all new employees are authorized to work in America. Next, inform the Secretary Of State about the status of your new hires. The next step is to verify that the new employees can work in the United States and inform the Secretary of State about their status. In Oklahoma, your LLC must also print workplace compliance posters. These posters should be placed in visible areas.
Certificate of Good Standing
A Certificate in Good Standing is required to confirm that the Oklahoma LLC was established legally and is current. These are just a few examples of why you might need one.
It is possible to apply for funding from banks and other financial institutions. The certificate of good standing can be obtained online by paying $20 for filing fees.
It is vital to dissolve your Oklahoma LLC in writing if you don’t want to do business with the LLC in the future. Failure to do so promptly can lead to tax liability and possible fines as well as other legal consequences. To dissolve your Oklahoma LLC, there are only two steps:
You will need to close all tax accounts for Oklahoma LLCs. Also, you must file the Oklahoma Articles of Dissolution.
Establishing an Oklahoma LLC in a foreign country
A global LLC will allow your business to act as a single entity across multiple states. If you are already an LLC and would like to do business in Oklahoma, an international LLC must be registered. This can be done by telephone or postal mail.
You can register in Oklahoma as a foreign LLC by filing online or mailing a filing fee of $300 to the Secretary-of-State.
Oklahoma Secretary Of State
421 N.W. 13th
Suite 210
Oklahoma City (OK 73103).
FAQ
Q: What is an LLC?
LLC stands to limit liability company and is a simpler business structure than traditionally incorporated entities. It still provides many of the same benefits.
Q: Do I have to obtain a DBA or Trade name for my business?
When you form an LLC, you don’t usually need a DBA. This is because your LLC’s name can be used as the company’s brand, and you will be able to accept payments, such as checks, under your company name.
Only register a DBA to conduct business under a different name than your company’s brand.
Q: Can my registered agent be my own?
You, or someone else from your company, can be the registered agent of your Oklahoma LLC.
Q: Is using a Registered Agent service better than being my own registered agent worth it?
It can be more cost-effective to hire a professional Registered Agent for managing all government-related filings for your Oklahoma LLC. For most businesses, the benefits of using a professional service outweigh the annual fees and filing fees.
Q: What’s the processing time for forming an Oklahoma LLC?
It can take up to 2 business days to file the Articles of Organization online. If you send it by mail, it may take 7-10 business days.
Q: What is the difference between a domestic Oklahoma LLC and a Foreign LLC?
An LLC will be called a domestic LLC if it is based in the same state it was founded. A domestic LLC is what a person will refer to when referring to an LLC. An existing LLC may need to form a foreign LLC to expand into another state or a neighboring country.
Q: Do you need to file the operating agreements with the secretary of state?
No, it is not. An internal operating agreement should be kept for future reference.
Q: If I don’t have a social security number, how do I obtain an EIN?
If you are applying for an EIN, you do not need to have a social security card. To complete your application, all you have to do is fill out IRS Form SS-4.
Q: Which tax structure do I need to choose for my LLC’s formation?
Your EIN will allow you to be informed about the tax classification options. Most LLCs in Oklahoma opt for the default tax status. Oklahoma LLCs can choose the corporation (S Corp) status to lower their federal tax obligations.
