Oklahoma LLC Costs
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An LLC, or limited liability company, is a business structure that gives business owners liability protection, special tax benefits, incentives, and a flexible management structure. A common thought among small business owners and entrepreneurs is that LLC formation in Oklahoma is complicated and costly. However, it is a straightforward process and worth the investment.
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Costs to start an LLC in Oklahoma
1
LLC Articles of Organization ($100)
- You must file your Articles of Organization with the Oklahoma Secretary of State.
- The LLC cost to file your Articles of Organization is $100.
- Oklahoma does not offer any expedited LLC services.
2
Oklahoma annual report fee ($25)
- An LLC must file an annual report with the Secretary of State.
- You will file your LLC’s annual report online using the Oklahoma Secretary of State website.
- Or, you can complete the Limited Liability Company Annual Certificate form and submit it by mail or in person.
- The annual fee in Oklahoma is $25 and is due every year on the formation anniversary date.
3
Oklahoma registered agent fee (varies between $50 to $300)
- Oklahoma requires you to appoint a registered agent when forming an LLC.
- It lets the Oklahoma Secretary of State that someone is available during business hours to accept subpoenas, tax notices, and other correspondence.
- The state allows you to appoint anyone as a registered agent as long as they meet the requirements, including yourself.
- The cost for a registered agent will depend on who you appoint, your LLC needs, and the state filing fees.
4
Fees to form a foreign LLC in Oklahoma ($300)
- You must register as a foreign LLC if you have an existing LLC in another state.
- Using the Oklahoma Secretary of State website, you can register a foreign LLC online.
- Or, you can complete the Application for Registering a Foreign Limited Liability Company form (Form 0081) and submit it by mail or in-person to the Secretary of State.
- The LLC filing fee to register an Oklahoma foreign LLC is $300.
5
LLC name reservation fee ($10)
- You do not have to reserve an LLC prior to formation.
- When you reserve an Oklahoma company name, you are ensuring that no one else can register the same name before you can complete formation.
- Your LLC name must be unique in Oklahoma.
- You can reserve an LLC name for up to 60 days before formation.
- You can reserve an LLC name online using the Oklahoma Secretary of State website.
- Or by completing the Application for Reservation of Name form (Form 0034) and submitting it by mail or in person.
- The LLC cost of reserving a company name in Oklahoma is $10.
6
DBA filing fees in Oklahoma ($25)
- The acronym DBA in Oklahoma stands for ‘doing business as.’ A DBA or an assumed name is a registered name that a person or business uses that is not the company’s legal name.
- In Oklahoma, an LLC does not have to register a DBA. But, by filing a DBA, you are securing exclusive rights to that business name.
- You can file your DBA online using the Oklahoma Secretary of State website.
- Or, you can complete the Trade Name Report form (Form 0021) and submit it by mail or in person.
- The cost to file a DBA in Oklahoma is $25.
7
Cost of certified document copies ($10)
- You order certified LLC documents using the Oklahoma business entity orders website.
- The cost for LLC documents is $10 and $2 for each page.
8
Certificate of Fact ($20)
- Banks and money lenders will require you to present a Certificate of Fact before allowing you to open a business bank account.
- You can order your Oklahoma certificate of fact online using the Oklahoma business entity orders website.
- The filing cost for a Certificate of Fact is $20 in Oklahoma.
Steps to start an LLC in Oklahoma
1
Choose a business name
When deciding on an Oklahoma LLC name, you will need to consider a few things.
- In Oklahoma, your LLC name must be unique and available.
- LLC name must meet all Oklahoma LLC naming guidelines.
- Keep branding simple by checking for web domain availability.
You will use the Oklahoma Secretary of State’s website to conduct a name search.
LLC name reservation fee
You are not required to reserve an LLC name in Oklahoma before formation.
You can reserve an LLC name online. Or by completing (Form 0034) and submitting it by mail or in person to the Oklahoma Secretary of State.
The cost to reserve a company name in Oklahoma is $10. An LLC name is good for up to 60 days. Oklahoma does not require you to reserve an LLC name.
2
Appoint an Oklahoma registered agent
The Oklahoma Secretary of State requires you to appoint a registered agent when forming an LLC.
The price for a Oklahoma registered agent or service varies between $50 and $100 a year. The cost depends on the state and your LLC needs.
A registered agent in Oklahoma is an individual or business entity that receives tax forms, legal documents, subpoenas, civil notices, service of process, and other official government correspondence on behalf of a sole proprietorship, corporation, or LLC.
The registered agent you choose must be an Oklahoma resident or a registered agent service authorized to conduct business in the state.
ZenBusiness
- Starter Plan – $39 a year plus State Fees
- Pro Plan – $149 a year plus State Fees
- Premium Plan – $249 a year plus State Fees
ZenBusiness has a stand-alone registered agent service for Oklahoma LLCs. The price is $99 per year.
Northwest
- Total Out The Door Oklahoma LLC Formation Service Package – $45 month and includes:
- Oklahoma State Fee
- Filing Service Fee
- Registered Agent
- Tax ID
- Annual Plan – $225 plus State Fees a year
LegalZoom
- Economy – $79 plus $153 Oklahoma filing fees
- Standard – $329 plus $153 state filing fees
- Express Gold – $349 plus $255 state filing fees
3
File Oklahoma Articles of Organization
In Oklahoma, you must file your Articles of Organization with the Secretary of State.
You can file Articles of Organization online using the Secretary of State website.
Or, you can complete the Oklahoma Articles of Organization form and submit it by mail or in person.
The cost to file your Oklahoma Articles of Organization is $100.
Oklahoma does not offer expedited LLC services.
Mailing address:
Oklahoma Secretary of State
421 NW 13th, Suite 210
Oklahoma City, OK 73103
The Articles of Organization form will ask for specific information about an Oklahoma LLC.
- LLC name and address
- Email address of primary contact
- Purpose of LLC formation
- Term of existence
The fee in Oklahoma for filing your LLC Articles of Organization is $100.
4
Get an Oklahoma LLC EIN
An Employer Identification Number, or EIN, can also be referred to as a Federal Employer Identification Number (FEIN) or Federal Tax ID Number (FTIN).
The IRS, or Internal Revenue Service, will assign your Oklahoma LLC a 9-digit EIN. It works as a Social Security Number for companies for income tax purposes.
In Oklahoma, an LLC must apply for an EIN if you are converting a sole proprietorship into an LLC.
Applying for an EIN is a simple process online through the IRS website.
Business banking for an Oklahoma LLC
When banking in Oklahoma, you will need to open a business banking account separate from your personal one. It protects your assets and credit scores.
Banks and financial institutions will require an LLC to present a copy of the Articles of Organization, an operating agreement, and the EIN.
Business banking accounts are generally free, and do not have additional charges or fees.
Business attorney fees in Oklahoma
When you form an LLC in Oklahoma, you want the process as simple as possible. A business attorney makes formation easier, and someone is available to handle business-related issues as they come up.
First-time clients generally are offered a free consultation.
Professional services such as LegalZoom and Rocket Lawyer offer LLC formation packages that include comprehensive legal services.
On average, a business lawyer in Oklahoma will cost $300 per hour.
LLC taxes in Oklahoma
- An LLC in Oklahoma is considered a pass-through entity. It means you will file your personal tax returns rather than LLC’s tax returns.
- You must register for a seller’s permit if you sell physical products in Oklahoma.
- The Oklahoma state tax rate is 4.50%, and a max local and county rate of 7.00%.
- Oklahoma has an annual franchise tax due on the15th day of the 3rd month at the end of the LLC’s income tax year. The yearly max franchise tax is $20,000 a year.
- You must register for Unemployment Insurance Tax through the Oklahoma Employment Security Commission.
- You are required to enroll in Employee Withholding Tax through the Oklahoma Tax Commission.
- Oklahoma state taxes and federal taxes can get complicated. An LLC benefits from having a tax expert to help avoid late fees, penalties, and possible dissolution.
Business licenses and permits in Oklahoma
Oklahoma business licenses and permits will vary depending on where your business is located and your business type.
You will use the Oklahoma Commerce website to search for the business license you will need for your LLC.
A business licence in Oklahoma averages between $20 to $100. The total cost of permits and licences will depend on where your LLC is, and the type of LLC.
Oklahoma city and county government agencies will have different rules and processes. You will need to contact the office for questions about the process, price, and office hours.
Notary public
You may find that some Oklahoma LLC documents require a notarization from a notary public.
Many government agencies have a notary public in the office if you cannot find one.
The average cost of notarization in Oklahoma is $5 per signature.
According to Oklahoma law, a notary public can only charge a max of $5 per signature.
Employer obligations in Oklahoma
- You have certain employer obligations in Oklahoma if you hire employees for your LLC.
- A business must verify with the federal government that employees are eligible to work in the US by using the Form I-9 from the USCIS Website.
- Oklahoma requires an employer to enroll in worker’s compensation insurance.
- You will use the Oklahoma New Hire Reporting System to report any new hires.
- You will find a complete list of Oklahoma employer obligations.
Benefits of an Oklahoma LLC
- Forming an Oklahoma LLC will keep business banking simple. Banks will require you to open a new business banking account separate from your personal one.
- LLCs have different compliance requirements than other business structures. For instance, incorporations must answer to shareholders and stock owners when any business decisions.
- An Oklahoma LLC is considered a pass-through entity. Earnings are only taxed once through the member(s) personal tax returns.
- You help ensure you are not double taxed when you form an LLC. C-corporations are typically double-taxed, while LLCs are not.
- Oklahoma LLC formation filing fees are affordable. The cost to file Articles of Organization is $100.
- Oklahoma has incentives that are available to LLCs. The Enterprise Zone and Small Business Loan and Guaranty Program are incentives available for an LLC in the state.
FAQs
How long does it take to register an LLC in Oklahoma?
It will take 1 to 2 business days in Oklahoma to process LLC formation documents. If you file by mail, expect it to take 3 to 5 weeks.
Oklahoma does not offer any expedited LLC services.
How do I dissolve my Oklahoma LLC?
You will want to dissolve your Oklahoma LLC to avoid ongoing costs and state fees. You will file your Articles of Dissolution online or by mail with the Oklahoma Secretary of State.
The cost for LLC cancellation is $50.
Can I take money out of my LLC in Oklahoma?
You are not paid wages or salary if you are a single-member LLC in Oklahoma. Instead, you pay yourself from your LLC profits. It is called an owner’s draw.
In Oklahoma, it is legal to write a personal check from your business banking account to transfer funds.
Are there publishing requirements for Oklahoma LLCs?
Unlike Arizona and New York, you do not have any further publishing requirements outside your annual report fee.
Do I need a business operating agreement for my LLC in Oklahoma?
In Oklahoma, you are not required to file an operating agreement. However, LLCs benefit from having it on file to avoid future misunderstandings. It can be oral or written.
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