How to Form an LLC in Oklahoma
Introduction
Many people think that forming an LLC is a difficult or confusing process, but it’s actually pretty simple. You don’t need to hire a lawyer or pay any fees to form an LLC in Oklahoma. You’ll just need some basic information about your business and its future plans, as well as an idea of how many owners will own the company (called “members” in a limited liability company). Whether you are going into business by yourself or with others, this article will walk you through the steps needed to form an Oklahoma LLC.
Choose a business name.
In Oklahoma, you have to choose a business name that is not too similar to one already in use. The Secretary of State has a list of names it considers confusingly similar and will refuse to issue you a certificate until you change your name. For example, if someone else has an LLC called “The Furniture Store” but yours is called “Furniture Store” or “Store,” then the Secretary will probably reject your application until you correct this mistake.
In addition, Oklahoma requires that all new businesses have their legal or trade names as part of their official state filings; so if there are any abbreviations or punctuation marks in your chosen name (e.g., United States Tobacco Company), they must be removed before submitting paperwork with the state government. Finally, while some states allow certain words like “associates,” “limited” or “corporation” in business names when used correctly by other entities such as law firms and accounting firms, Oklahoma does not allow these terms in its database because they can create confusion among consumers who may assume these companies aren’t limited liability companies (LLCs).
Find out if the name you’ve chosen is available.
The first step to forming a LLC is making sure the name you’ve chosen for your company is available. You can check this by checking with the state and federal databases, as well as the Oklahoma Corporation Commission website and the Oklahoma Secretary of State website. Additionally, you should check with your county clerk’s office to see if there are any other companies registered under that name in your county–if so, you’ll need to choose another one.
Register your business name with the state.
Now that you have a name for your business, it’s time to register it with the state. In Oklahoma, this is done at the Secretary of State office. You’ll need to bring along some proof of your business formation (for example, your articles of organization or statement of authority). You’ll also need to pay $50 and provide your Social Security number and other personal information. Once you’ve registered your business name with the state, you can open a bank account and start selling products or services under this name.
File articles of organization.
The first step in forming your Oklahoma LLC is to file articles of organization with the Oklahoma Secretary of State. The articles of organization will include information about your LLC, such as its name and address.
You can file online or by mail. If you choose to file online, you’ll pay a one-time $100 fee after which you can submit filings without paying another fee until the following year. If you choose to mail in your filing instead, there’s no charge for submitting a new document on paper but you must pay an annual $50 renewal fee each year afterward if you want continued access to this service.
Designate a registered agent for your LLC.
If you’re an LLC owner, you must designate a registered agent for your company. Your registered agent is the person in charge of receiving legal notices and other important documents on behalf of your LLC. You can designate an individual or a business as your registered agent. An Oklahoma-based lawyer or law firm is required to be listed as your company’s designated representative in case legal action needs to be taken against it, so make sure that this person is available when needed in such cases.
When choosing someone to act as your registered agent:
- Ask them whether they’re willing and able to accept this responsibility; if not then don’t use them for obvious reasons!
- Make sure that they have access to all relevant information about the company so that they can respond quickly if necessary. This includes any documentation related to tax filing obligations, etcetera—otherwise there could end up being penalties involved which would not only cost money but also time away from running things smoothly within the organisation itself too!
File an initial report.
Once you’ve established your LLC, the next step is to file an initial report. This is basically a way for the state government to keep tabs on all new businesses in Oklahoma. It’s easy to do, but it does cost money: $50. You can pay by credit card or check when you submit your report online; if you prefer to send in a paper copy, you can use this form instead.
Once that’s taken care of, the next thing on the list will be filling out and submitting an Annual Report—but that doesn’t happen until next year! For now, we’re done with our basic business setup tasks (although there’s still plenty more work ahead).
Obtain a certificate of approval from the Oklahoma Tax Commission office.
You can get a certificate of approval from the Oklahoma Tax Commission office by:
- Applying for it online.
- Filling out an application, which you can print out and then mail or fax to them.
- Getting in touch with them by phone to see if they have any available appointments at their office in Tulsa, Oklahoma City or Norman (the three cities where you can currently apply). Once they’ve received your application and approved it, they’ll send you back a certificate of approval that’s good for 1 year and costs $50.
Apply for a federal employer identification number from the IRS.
An EIN is a nine-digit number that identifies your business to the IRS. It’s like a social security number for businesses, and you need it to open up a bank account and file taxes. You can apply for an EIN on the IRS website. After you fill out the application, it takes five to seven days to process. If you need an EIN more quickly than that, there are several other ways you can get one:
- -Visit an IRS walk-in center near you. These centers have limited hours and availability, so be sure to check their schedules before heading over there (you can find them here).
- -Talk with someone at the tax assistance center attached to your local library or courthouse. You’ll probably have to wait in line with other people who had similar ideas of getting their EINs during these hours, but by doing so this way, at least it won’t take as long overall because there’s likely fewer people filing taxes during these times when compared against filing them during work hours at your local H&R Block or Liberty Tax office location!
You can do this as long as you have solid information and are willing to put in time and effort
You can form an LLC in Oklahoma, but you will need to do some research and be willing to put in the time and effort.
It’s not difficult, but it will take some time and effort on your part. You may have to ask questions of other people who have formed their own companies before or consult with attorneys or accountants about what kind of legal structure is best for your specific needs.
Conclusion
Starting a business can be an exciting and rewarding experience. With the right information and resources, you can start your own LLC in Oklahoma in no time.
