An Oklahoma Limited Liability Company (LLC) must file an annual statement with the Secretary of State’s Office. This document includes the name of the entity, address, registered agent, date of formation, type of organization, number of members, and description of the principal activity of the LLC.
A federal income tax return must also be filed annually with the Internal Revenue Service (IRS). This form contains basic financial information about the entity including gross revenue, net profit/loss, total assets, total liabilities, shareholders equity, and owner’s capital account.
An Oklahoma LLC must pay franchise tax every year. This tax is based on the entity’s property and operations value. Franchise tax rates are set by statute.
Table of Contents
Articles of Organization
An articles of organization is required to start a business. This document describes how the corporation operates and what it does. It includes information about the owners, directors, officers, shareholders, and registered agent. You can file articles online with the Secretary of State. If you are filing electronically, you can save money because there is no fee. However, you still need to print out the form and mail it to the office.
If you are filing paper documents, you will pay $10 per person ($25 total). A certified copy costs $15 per person ($30 total).
You can find forms online at www.sos.state.il.us/corp/.
“Operating Agreement”
An operating agreement helps protect your interests if something happened to you. In case of death, divorce, or bankruptcy, a court may take control of your assets. An operating agreement will define how those assets are divided among family members. For example, if you die without children, your spouse gets half of everything. If you have children, they each get a portion based on their age.
An operating agreement protects your business too. It defines how decisions will be made, such as whether to buy another business, sell the business, merge with another business, etc. Without an operating agreement, someone else could make decisions for you.
Create your LLC Corporation with just 3 easy steps
Annual Certificate
The state of New York requires every limited liability company (LLC), corporation, partnership, sole proprietorship and unincorporated association to file an annual certificate with the Secretary of State. This document must include information about the name, address, principal place of business, registered agent, date formed, purpose, members, directors, officers, managers, shareholders, partners, general partner, manager, member, director, officer, shareholder, partner, general partner, manager or member’s occupation, and whether the entity is exempt from paying taxes under Section 1501(a).
If you fail to file, the Secretary of State may fine you up to $1,000 per day.
State Business Tax
If you’re thinking about starting a small business, here’s what you need to know about the state business tax.
The Ohio Revised Code requires every person conducting business in Ohio to pay a franchise fee to the Ohio Department of Taxation. This fee is called the “state business tax.”
This article explains what the state business tax is and how much it costs.
Registration in the Other States
If you plan to start an LLC in another state besides where you live, you’ll need to register your business in that state. You do this by filing Articles of Organization. This document sets out the basic structure of the LLC and lists the members. In addition, it contains information about how the LLC operates, such as whether it sells goods or provides services, what type of entity it is, and what activities it engages in.
There are several different ways to set up an LLC. If you’re planning to sell products online, for example, you might decide to use Amazon Fulfillment Services. Or you could choose to run your business through a traditional brick-and-mortar store. Regardless of how you go about setting up your LLC, however, you’ll still need to apply for a certificate of authority in each state in which you intend to conduct business
Annual Report Requirements
The Securities Exchange Act of Annual 1934 requires every publicly traded corporation to file an annual report in Oklahoma. This Permits document includes information such as the company’s financial statements, the names of its officers and directors, changes in ownership, and whether it has been subject to bankruptcy proceedings.
Companies must submit their annual report to the SEC no later than the 15th day following the close of the fiscal year. If you’re wondering why there’s a difference between “fiscal year” and “calendar year,” here’s a quick explanation: Fiscal years begin on July 1st and run through June 30th; while calendar years start January 1st and run through December 31st.
In addition to the annual report, companies must furnish shareholders with a Form 10K, which provides additional information about the company’s finances. These documents are filed with the SEC within 45 days after the end of the company’s fiscal year.
Annual Report
An annual report is a document that provides shareholders with financial statements, management discussion and analysis, and other important information about a corporation. In addition to being required by law, it is advisable to prepare an annual report because it helps you keep track of your finances and allows investors to see how well you’re doing.
Companies must pay a fee of up to $25 per year to submit an annual report. Many states require certain information to include in an annual report. For example, some states require a balance sheet, income statement, and cash flow statement. Other states require additional financial data such as notes to the financial statements, shareholder letters, and directors’ biographies. Some states even require audited financial statements.
Oklahoma business license requirements
The Oklahoma State Licensing Authority (OSLA), the Oklahoma Tax Commission (OTC), and the Oklahoma Department of Commerce (DOC) are responsible for issuing licenses and permits to businesses operating within the state. These agencies work together to ensure compliance with licensing and permit requirements.
Licenses and permits include:
• A business license;
• An occupational license;
• A professional engineer license;
• A contractor license;
• A sales tax registration certificate;
Permit and licenses vary based on:
Many different types of permits and licenses are required depending on where you live. Some states require permits and licensing, while others do not. Here are some examples of the type of permits and licenses you might need:
* Permit – For example, a building permit is needed to build a house.
* License – For example, a driver license is needed to operate a car.
* Certificate – For example, a health certificate is needed to work in healthcare.
* Registration – For example, a vehicle registration is needed to register a car.
* Certification – For example, a food certification is needed to sell food products.
* Approval – For example, approval is needed to use chemicals in manufacturing processes.
Frequently Asked Questions
How to Obtain a Certificate of Good Standing in Oklahoma
A certificate of good standing is required for many types of businesses in Oklahoma. If you are forming a limited liability company (LLC), it must be filed within 30 days of the date you file articles of organization with the Secretary of State. An LLC can be formed under either the general corporation act or the Limited Liability Company Act.
If you are filing articles of incorporation, you will need to pay $50 to obtain a Certificate of Good Standing. However, there are several ways to avoid paying this fee. For example, you can use a corporate resolution to form your company, rather than filing articles of incorporation. In addition, you can apply for a Certificate of Good Standing without having filed articles of incorporation. Finally, you can request a refund of the $50 filing fee.
How to Dissolve an LLC in Oklahoma
If you want to dissolve your Oklahoma limited liability company (LLC), here’s what you need to know. First things first: You must file articles of dissolution with the Oklahoma Secretary of State. These documents are known as the Oklahoma Articles of Dissociation. They are filed within 30 days of the date you close your business tax accounts. This includes both federal and state taxes.
The second step involves filing the Oklahoma Articles of Dissoluion. Once you have done that, you are free to stop doing business with your LLC. However, if you fail to do so, you could face serious consequences. For example, failure to properly dissolve your LLC could lead to fines, penalties, and even criminal charges. So make sure you take care of this task as soon as possible.
James Rourke is a business and legal writer. He has written extensively on subjects such as contract law, company law, and intellectual property. His work has been featured in publications such as The Times, The Guardian, and Forbes. When he’s not writing, James enjoys spending time with his family and playing golf.
