The Oklahoma Secretary of State is responsible for administering elections, maintaining records of corporations, and issuing licenses. The office oversees the state’s motor vehicle department, securities, and corporation.
Table of Contents
Step 1-Find a business entity
Go to the Secretary of State’s website to look up a company name. Type in the company name and hit enter. You will see the results on your screen immediately.
Step 2 – Choose your entity type
When you register an entity, you must choose one of the following options:
1. A Business Name – You can use this field to enter a short name for your business. If you do not want to use the full legal name, you can use the “Business Name” field to enter a shorter version.
2. An Organization Type – You can select whether the organization is a corporation, partnership, limited liability company, association, trust, government agency, governmental subdivision, or foreign entity.
3. A Tax ID Number – You can use this optional field to provide a tax identification number for the entity.
4. An Address – You can use this mandatory field to enter the street address where the entity conducts business.
5. Other Information – You can use this space to enter additional information about the entity such as the date it was established, the names of directors and officers, the types of activities conducted, etc.
6. Filing Status – You can select whether this entity is active or inactive. Active entities file annual reports with the IRS; inactive entities cannot file annual reports.
In Step 2 we learned how to identify the name of the company. Now it’s time to learn how to find some additional information about the company. You can start by looking up the company’s annual report. If you don’t already have one, you can download the Annual Report Database free version. After downloading the database, open the downloaded file and look for the section titled “Company Data.” In there, you will see a list of companies organized alphabetically by state. Find the company you are interested in and scroll down to find the relevant information. For example, here is the link to the annual report for Coca Cola Company (Coca-Cola).
You can use the same process to find basic financial information such as the number of employees, revenue, and net income. However, you might find it easier to do a simple web search for the company. There are many online sources where you can find the latest news about the company. One good place to start is Yahoo Finance. Here is the link to the Yahoo Finance homepage. Click on the tab labeled “News & Analysis,” and you will find various articles related to the company.
Next, you should check whether the company has filed a 10K form with the SEC. These forms contain detailed financial information about the company. To find out whether the company has filed the form, type “10k” into the search box and press enter. A listing of filings will come up. Scroll down to the bottom of the screen and see a list called “Filing History.” Look under the heading “Form 10K” and see the filing date.
If the company hasn’t filed the form, it doesn’t mean it isn’t profitable. Many companies choose not to disclose certain aspects of their finances, especially those that are considered confidential. Another reason a company may not release the information could be because it is still growing and needs to protect its competitive advantage.
Businesses are required to file certain documents with the state government. These include articles of incorporation, federal tax forms, and information regarding the location and ownership of the business. In addition, some states require additional licenses and permits.
The process of forming a corporation involves four steps:
1. Decide whether to incorporate as a domestic or foreign corporation;
2. Choose one of several types of corporations;
3. Complete the articles of incorporation; and
4. File the necessary paperwork with the appropriate authorities.
If you choose to incorporate as a domestic corporation, you must select either a Delaware or Nevada corporation. If you decide to incorporate as a foreign corporation, you must select a jurisdiction outside the United States.
A domestic corporation is subject to the same rules as individuals under state law. The laws of another jurisdiction govern a foreign corporation. Foreign corporations are generally taxed differently than domestic corporations.
Frequently Asked Questions
Why did the Oklahoma Secretary of State suspend my corporation?
The Oklahoma Secretary of State is the state agency responsible for maintaining records regarding the status of Oklahoma corporations. If you want to know why your corporation was suspended, you must contact the Oklahoma Tax Commission. They keep track of the number of times a corporation has been suspended.
The suspension could be from failing to file an annual Oklahoma Corporation Franchise Tax return, failing to pay the franchise tax, or failing to comply with Oklahoma law.
The Oklahoma Secretary of State records whether a corporation complies with Oklahoma laws. If you look up information about your corporation online, you may see a warning stating that the corporation is “suspended.
How much is an LLC in Oklahoma
An LLC is formed under the laws of the state where it is registered. There are three ways to register an LLC in Oklahoma: online at www.okdba.com, by mail at the Secretary of State’s office, or by filing paper articles of organization with the county clerk.
The minimum amount of capitalization required to form an LLC is $25,000. If the LLC is organized in Oklahoma, the initial registration fee is $100.00 plus $10.00 per year after that.
If the LLC is incorporated in another state, the initial registration fee in Oklahoma is $500.00 plus $50.00 per year thereafter, unless the corporation is exempt from paying fees.
A foreign LLC cannot incorporate in Oklahoma until it obtains a certificate of authority from the secretary of state.
Once the LLC is registered, it must file Articles of Organization with the county clerk in the county where the principal place of business is located. The Articles of Organization should list the names of each person who is a member of the LLC. Each member is entitled to vote on matters affecting the LLC. Members can only transfer membership interests if the transferee agrees to assume the obligations of the original member.
Each member is responsible for ensuring his/her name appears on the Articles of Organization. Failure to do so could result in forfeiture of membership interest.
Membership Interests
Every member of an LLC has equal rights and responsibilities. However, certain powers are reserved exclusively for managers. Managers have broad powers over the affairs of the LLC. They can bind the LLC to contracts, sue and be sued, borrow money, sell property, purchase property, enter into leases, issue shares, make distributions, dissolve the LLC, and liquidate the assets of the LLC.
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.
