Oklahoma LLC: Everything You Need to Know
The good news about starting an Oklahoma LLC is that it is easier and cheaper than you might have realized.3 min read
Starting an Oklahoma LLC
The good news about starting an Oklahoma LLC is that it is easier and cheaper than you might have realized. LLCs that operate in Oklahoma fall under the Oklahoma Statutes-Title 18 Limited Liability Company Act.
When you form an LLC in Oklahoma, there are a few important pieces of information you need to provide:
- The name of your business
- Your official business address
- Who is starting the LLC and who will manage it
- Email address of main contact
- The name and address of the registered agent
- The LLC’s industry
- How long the company will operate (called the “terms of existence”)
- A brief statement of the LLC’s purpose
- Name and dated signature of the person organizing the LLC
When you register your LLC in Oklahoma, you need to pay a filing fee. This payment can be paid with a credit card, check, cashier’s check, or money order. Keep in mind that when you pay with a credit card, you are subject to a 4 percent service charge.
The amount of time to officially register your LLC with the Secretary of State is relatively short and rarely takes longer than 5-7 business days. If you want to expedite the registration of your LLC, you can request same-day processing and pay a minimal fee of $25 to accomplish this.
Name Your LLC
There are certain words like bank, attorney, and university that are restricted in Oklahoma. If you want to use any of these words in the name of the LLC you might need to acquire a licensed individual (like a lawyer or doctor) and you’ll have to fill out more paperwork.
There are also words that are strictly prohibited such as FBI, Treasury, and Secret Service. None of these words can be used when naming your LLC in Oklahoma.
If you want to make sure the name you want to use for your LLC is available, visit the State of Oklahoma website to do a name search. Upon choosing a name, you can reserve it for 60 days after filling out a Name Reservation application and paying a fee.
You can reserve your name online by going through the Oklahoma Secretary of State Entity Filing website. You can also reserve a name by mail and pay a $10 filing fee.
Appointing a Registered Agent
When you start an LLC in Oklahoma, you need to appoint a registered agent. The registered agent (which can be a person or business) sends and receives legal documents on the behalf of your LLC. Whoever you choose to be your registered agent must reside in the state of Oklahoma.
The next step in forming your LLC is filing the Articles of Organization. This can be accomplished online or through the email. You will also need to pay the filing fee when submitting the Articles of Organization.
In the state of Oklahoma, anyone registering an LLC is not required to have an operating agreement. However, having one is advisable and comes with several benefits (such as giving your LLC more credibility). The Operating Agreement is a legal document and it provides specific details on who owns the LLC and how the LLC is operated.
In Oklahoma, operating agreements are recognized by the state as governing documents. If you choose to include an Operating Agreement with your LLC, you should make multiple copies and have your registered agent keep the original copy on file.
Employer Identification Number
Registering an LLC in the state of Oklahoma requires you to obtain an Employer Identification Number (EIN) or a Federal Tax Identification Number. You need one of these two things to file your LLC’s state and federal taxes. If you want to open a business checking account, the bank you choose will probably require you to provide an EIN for your LLC.
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