The Oklahoma Limited Liability Company Act allows one or more individuals to form a limited liability company (LLC) in the state. The secretary of state regulates LLCs. While it is a good idea to consult with a lawyer and an accountant to help you form an LLC, it is possible to do it yourself without the help of professionals.
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LLC Name Requirements
Like most states, Oklahoma has specific requirements regarding the name of an LLC. When you decide what name you would like to use for your company, you must add the words “limited company” or “limited liability company” at the end of the name. You may abbreviate the words as “LC,” “LLC,” “L.L.C.” or “L.C.” Limited can be abbreviated at “Ltd.” Company can be abbreviated as “Co.”
You must make sure another business entity in Oklahoma is not already using the name you choose. Use the state’s name availability service to check whether the name is already taken. The service is available online, via phone, by written request or in person at the secretary of state’s office. You may also reserve a name in advance of filing your LLC forms. The name can be reserved online or you can download a form and mail or hand deliver it to the secretary of state. The reservation is good for 60 days. As of 2010, the name reservation fee is $10.
All LLCs must have a registered agent within the state to receive notices from the state and legal service of process documents on behalf of the company. The resident agent can be an individual or business and must have a business address in Oklahoma.
Articles of Organization
The articles of organization is the primary document needed to create an LLC in Oklahoma. It is available as a PDF download and can be filed online. It includes information such as the name and address of the company; the name and address of the registered agent; the terms of the existence of the LLC; and the signature of the person filing the document. An LLC’s term can be finite or perpetual. As of 2010, the filing fee for the articles is $100.
To file federal taxes, your LLC will need a federal tax identification number also known as an employer identification number (EIN). Since the Internal Revenue Service does not have a tax classification for LLCs, the company can file federal taxes as a corporation, a partnership or a sole proprietorship.
Licenses and Permits
Depending on the nature of the LLC’s business, the company may need to obtain permits or licenses. The federal government site Business.gov provides a searchable online database of licenses and permits needed for every jurisdiction in the United States.
References & Resources
- Oklahoma Statutes: Chapter 18
- Oklahoma Secretary of State: Downloadable Business Forms
- Oklahoma Secretary of State: Articles of Organization
- Internal Revenue Service: Limited Liability Company (LLC)
- Internal Revenue Service: Employer ID Numbers (EINs)
- Business.gov: Limited Liability Company (LLC)
- Oklahoma Secretary of State: Business Entities Search
- Oklahoma Secretary of State: Entity Filing, Name Reservation
- Oklahoma Secretary of State: Name Reservation Form
- Business.gov: Business Licenses and Permits
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