Are you considering starting a business in Oklahoma? Register your LLC. It protects your assets and makes your business official to customers. Like any other state, Oklahoma has its own rules and regulations for LLC formation. Below are the basic steps to get started.
Step 1: Name your Oklahoma LLC
Step 2: Pick a Registered Agent
Step 3: File an Articles of Organization
Step 4: Received a Certificate From the State
Step 5: Create an Operating Agreement
Step 6: Get an Employer Identification Number
Step 7: File an Annual Certificate
Step 1: Name your Oklahoma LLC
When you start your business, you need to select a name that meets Oklahoma’s requirements:
- Include “Limited Liability Company,” “LLC,” or “L.L.C.” in your business name.
- Ensure your name is unique and not already in use in the state. Check the Secretary of State’s website for availability. Here’s the link.
- Avoid using words reserved for government agencies (e.g., State Department, CIA).
Words like “bank” or “lawyer” may need extra documentation.
For more details, refer to Oklahoma’s naming rules.
Additional Consideration :
Reserve your name: If your desired business name is available but needs more preparation to establish your Oklahoma LLC, you can reserve it for 60 days. This process is affordable, with a fee of only $10.
Website domain: Even if you intend to create a website later, verifying if your desired name is available online is wise. Secure the domain name now to reserve it for future use.
Step 2: Pick a Registered Agent
In Oklahoma, every LLC should have a designated registered agent to accept legal documents. This agent can be the LLC itself, an Oklahoma resident, or another business entity. The agent should have a physical address in the state and be available during regular business hours.
If the LLC doesn’t assign someone internally, they can hire a third-party business as a registered agent. It typically costs between $50 and $300 annually, with an average of around $100.
Step 3: File an Articles of Organization
Establishing an Oklahoma LLC involves submitting Articles of Organization to the Secretary of State. These articles must contain:
- The name of the LLC
- The street address of the LLC’s primary place of business
- The LLC’s email address
- The LLC’s term of existence, either ongoing or for a set period
- The signature of a member and manager.
This document officially establishes your LLC as a separate legal entity. To complete this process, you must pay the Oklahoma LLC Filing Fee of $100.
You can conveniently file online through the Oklahoma SOS Portal by creating an account with your business name, email, and credit card details.
Alternatively, you can choose to apply by mail or in person by downloading the Oklahoma LLC Articles of Organization Form, completing it accurately, and sending it along with a check or money order to the Oklahoma Secretary of State’s office at 421 N.W. 13th Suite 210, Oklahoma City, OK 73103.
Step 4: Received a Certificate From the State
Once the state approves the LLC’s formation documents, you’ll receive a certificate confirming its existence. This certificate allows you to get an Employer Identification Number (EIN), business licenses, and a bank account.
Step 5: Create an Operating Agreement
While not required, having an LLC operating agreement in Oklahoma is highly recommended. This document outlines member rights, duties, and responsibilities within the LLC. Although it’s not submitted to the Secretary of State and is internal, not having one means relying on other governing documents.
The agreement addresses six main aspects:
- Organization: It outlines who comprises the company and how it’s structured.
- Management and Voting: It outlines the process for making decisions.
- Capital Contributions: It discusses the funds invested in the business.
- Distributions: It explains how profits and losses get divided.
- Membership Changes: It describes the process for admitting new members or removing existing ones.
Step 6: Obtain an Employer Identification Number
The final step in forming your business is obtaining an EIN (Employee Identification Number) as your LLC’s social security number. The IRS issues EINs to track your business’s tax reporting. You’ll need an EIN for tasks like opening a business bank account, hiring employees, managing taxes, and separating your personal and business identities.
Complete the form and visit the IRS EIN Assistant to obtain your EIN. You’ll need to provide your Social Security number or Individual Taxpayer Identification Number (ITIN) to fulfill the requirements for obtaining an EIN.
Step 7: File an Annual Certificate
Every Oklahoma LLC and foreign LLC authorized to operate within the state must submit an annual certificate to the Secretary of State. This certificate is due annually on the LLC’s creation anniversary and can be filed online through the Oklahoma Secretary of State Entity Filing webpage or by mail. There’s a $25 fee; late filings may incur penalties.
Follow these steps to start your business in Nevada quickly and easily. This guide will simplify and improve the process of setting up your LLC.
LLC State Guides
How To Start an LLC in Oklahoma FAQs
How Much Does it Cost to Start an LLC in Oklahoma?
The Oklahoma Secretary of State requires a $100 fee for filing the Articles of Organization. You can reserve your business name for $10. Additionally, Oklahoma LLCs must file an Annual Certificate each year, which costs $25.
How Long Does it Usually Take To Approve an LLC in Oklahoma?
Oklahoma LLCs typically receive approval within 1 to 2 business days after filing.
Why Should You Consider Forming an LLC in Oklahoma?
LLCs are a budget-friendly way to start a business. They have flexible structures and fewer paperwork requirements than corporations, which delays fostering a sense of productivity and progress.
Can Foreign LLCs Conduct Business in Oklahoma?
Yes, foreign LLCs are permitted to operate in Oklahoma. To operate legally, they must submit an Application for Registration to the Secretary of State.
