Forming a limited liability company (LLC) provides you with personal liability protection as well as credibility and tax flexibility for your business. If you’re ready to register an LLC in Oklahoma, we’re here to help with this guide to the six steps you need to take to start your business today.
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Oklahoma LLC Quick Facts
- To register an LLC in Oklahoma, you must file the Articles of Organization.
- The filing fee to start an LLC in Oklahoma is $100.
- All LLCs in Oklahoma are required to designate a registered agent.
- To maintain your Oklahoma LLC, you will need to file an Annual Certificate.
6 Steps to Registering an LLC in Oklahoma
Registering an LLC in Oklahoma is as easy as six steps that we’ve outlined below.
To register an LLC in Oklahoma, follow these six steps.
- Name Your Oklahoma LLC
- Appoint a Registered Agent
- File Articles of Organization
- Create an Operating Agreement
- Obtain an EIN and Handle Taxes
- File a Beneficial Ownership Information Report
Step 1: Name Your Oklahoma LLC
The first step towards registering an LLC is deciding on a business name.
In Oklahoma, LLC names must meet specific requirements:
- The name must include Limited Liability Company, LLC, or Limited Company
- The name must be unique and distinguishable from any other business entity in the state
- Terms implying government affiliation are not allowed
For the full list of naming requirements for Oklahoma LLCs, review the state’s statutes.
To ensure your business name is unique, you will need to conduct a business name search on the Oklahoma Secretary of State website.
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Step 2: Appoint a Registered Agent
LLCs in Oklahoma are required to have a registered agent.
The registered agent is responsible for receiving important legal documents and information on behalf of your company.
In Oklahoma, the registered agent must:
- Have a physical address in the state
- Be available during normal business hours
- Not be the LLC itself
Who can Serve as a Registered Agent in Oklahoma?
To register an LLC in Oklahoma, you must designate a registered agent who can accept legal documents on behalf of your company. A registered agent can be the LLC owner, an employee, a friend, a family member, or a registered agent service.
Step 3: File Articles of Organization
After completing these initial steps, you will need to file the Articles of Organization with the Oklahoma Secretary of State. This can be done online through the Secretary of State’s website or by submitting this form by mail or in person.
The filing fee for this step is $100.
During the filing process, you will need to provide basic information about your LLC, such as:
- Your LLC’s name and address
- The name and address of your registered agent
- Contact information such as an email address
- Your LLC’s duration
Quick Note: If you have already formed your LLC in another state, you need to register as a foreign LLC or foreign entity in Oklahoma. To do so, you must file a Registration of Foreign Limited Liability Company with the Secretary of State along with a $300 filing fee.
Step 4: Create an Operating Agreement
In Oklahoma, creating and maintaining an operating agreement is helpful for LLCs but not required. An operating agreement is a document that outlines the internal procedures and ownership details of the company. This document is crucial to ensure that LLC members are on the same page and can help prevent potential conflicts in the future.
While the operating agreement does not need to be filed with the state, it is important for your LLC to keep an updated operating agreement on file.
Step 5: Obtain an EIN and Manage Taxes
The next step is to obtain an Employer Identification Number (EIN) and manage your taxes. An EIN is a unique number that allows the IRS to track your business for tax reporting purposes. Plus, with an EIN you can hire employees and open a business bank account.
You can easily obtain your EIN for free on the IRS website.
Additionally, it is important to identify any additional tax requirements specific to your business in Oklahoma. You can do so by visiting the Oklahoma Tax Commission website.
Step 6: File a Beneficial Ownership Information Report
One of the final steps to register an LLC is filing a Beneficial Ownership Information Report with the US Financial Crimes Enforcement Network (FinCEN).
LLCs in Oklahoma are required to file this report within specific timelines:
- New LLCs must complete the filing within 90 days of formation
- Existing LLCs must do so between January 1st, 2024, and January 1st, 2025.
Failure to comply with this requirement may result in a $500 per day fine.
The filing process can be done online for free on the FinCEN website.
Next Steps
- Open a business bank account to separate and protect your personal assets. Signing up for a business checking account with Lili is quick and easy.
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- Identify and obtain any necessary licenses and permits that may be required at the federal or state level. For more information on licenses and permits required by the state, visit the Oklahoma Business Hub website.
- File an Annual Certificate every year with the Secretary of State online or by mail to maintain your LLC’s good standing.
- Obtain insurance coverage for your LLC to protect your business and assets. Consider starting with general liability, workers’ compensation, and personal liability insurance to meet your business needs. Next Insurance offers affordable, fast coverage.
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Additional Tips for Success
- Build a strong network within the Oklahoma business community to gain valuable insights and support.
- Stay informed about compliance requirements specific to Oklahoma to ensure your LLC remains in good standing.
- Develop a comprehensive business plan to set clear goals and milestones for your company’s future success.
Conclusion
To register an LLC in Oklahoma, you need to follow several steps to ensure your business is set up legally and correctly. From naming your business to completing LLC maintenance requirements, every step to registering and managing your LLC is crucial. By completing these steps diligently and carefully, you can successfully register your LLC in Oklahoma and set your business up for success.