To secure and register your brand name it should be unique, not too similar to another registered name, and shouldn’t contain any restricted wording. To check, conduct a Business Entity Search through the state and if there are potential trademark issues conduct another quick search using the TESS System through the U.S. Patent Office.
Keep in mind your LLC name should contain words like ‘Limited Liability Company’ or ‘Limited Company’. Abbreviations for these words like ‘L.C.’ or ‘L.L.C.’ are also acceptable. If needed, an Application for Reservation of Name can be submitted to the OK Sec. of State that’s good for up to 60 days.
Filing Fee: $10
An Oklahoma Registered Agent is a mandatory requirement. They act as a representative of your business whose job it is to receive and help process all important documents, especially state filings. Some basic criteria includes:
You can hire an outside professional service and expect to pay up to $160/year, or get a Registered Agent free of charge when you start an LLC through filing services like IncFile or BizFilings. They handle this and more depending on your startup package.
Head over to the Oklahoma Business Forms page and choose the right Certificate of Incorporation form. This certificate will need to be submitted through mail or using the Sec. of State’s Entity Filing System. It’s an official declarative document for the public record that discloses the basics of your new LLC including:
LLC Filing Fee: $100
An EIN, or Employer Identification Number, is required in Oklahoma for all businesses in the state. It’s a federal 9-series identification number that enables the IRS to monitor your business activities. It’s like a social security number for businesses. You can also use it to open a business bank account and legally hire employees.
There are several ways to obtain an EIN, but the most convenient (and FREE) way is to submit an online application through the IRS Website.
Since you’re here in this guide right now, chances are it’s your first time establishing an LLC so you’re probably not aware of everything involved in the business-side of banking. Where you build your brand’s financial foundation is important – fees, withdrawal/deposit limits, accessibility, location, credit/debit incentives, online banking options, etc. Don’t just wing this or assume you should set up shop where you personally bank.
If you’re interested, this article takes a good look at Business Checking Accounts and what makes them appealing for smaller or startup businesses. Shop around!
An LLC is one of the most flexible business entities you can form and operate. That said, its flexibility can be both an advantage and a disadvantage, which is why it’s wise to create an Operating Agreement. Do you have to have one? No, the state doesn’t mandate it, but it adds protection for you, your LLC status, and all owners/managers involved.
Now, along with the legal protection and laying out rights & responsibilities, you can also detail operational rules. If this document isn’t in place, the rules running he show are default Oklahoma rules. This may or may not be a good thing if there’s a dispute. See why it’s important?
To get started, consider checking out this savvy list of Operating Agreement Tools which you can customize yourself.
To be honest, with this step the ideal move you can make is to hire a professional or do plenty of research on your own. Regardless, don’t jump into the marketplace without ensuring you’re 100% compliant with all relevant agencies and setup for success!
To get started bookmark the OK Tax Commission, and the Oklahoma City District office of the Small Business Administration because they’re likely going to be go-to sources along the way. If you need help, consider professional Business License Research packages that can quickly handle the leg work for you.
If you’d like help forming an LLC, here are two great options:
IncFile ($49 + state fees) is ideal if you’re on a budget but refuse to sacrifice quality. However if you’d like to have access to an attorney past LLC formation, Rocket Lawyer ($99 + state fees) is the best option.Visit IncFile Or Visit Rocket Lawyer
Note that this article on how to form an LLC in Oklahoma isn’t a legal document or legal advice. It’s for informational purposes and the information above is subject to change. For specific legal questions regarding how to form an LLC in Oklahoma or business in general, please consult with a lawyer or other accredited professional.