General Guide to Company Incorporation in Oklahoma
Updated on Monday 16th April 2018
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Oklahoma is known as the Sooner State (a name given to the people who entered the unallocated lands before Oklahoma was created) and it is the 28th most populous American state. Being a large producer of oil, gas and numerous agricultural products, Oklahoma is suitable for business in this area, but entrepreneurs can establish their investments in other fields of interest like the tourism or biotechnology. We have prepared a general guide to company incorporation in Oklahoma to support business persons interested in setting up companies in this state. We also mention that our team of company formation agents in USA are at your disposal with information and assistance at the time of company registration in USA.
How to set up an LLC in Oklahoma
The most popular business structure in USA is the limited liability company which can be easily incorporated in any chosen state, including in Oklahoma. The registration of an LLC in Oklahoma starts with the Business Division of the Secretary of the State of Oklahoma and the submission of the Articles of Association. These are the company’s major documents which stand at the company formation process in USA and comprise the following information:
• the name and the nationality of the owners;
• the activities of the company;
• the business address;
• the board of directors;
• the name of the registered agent.
If you want to open a company in USA, especially in Oklahoma, it is recommended to appoint a registered agent who can act on behalf of the company and who can receive the legal documents of the firm. In this sense, we remind investors that our company incorporation agents in USA can represent your firm, regardless of the state in which you want to develop your activities.
Sign an operating agreement for your LLC in Oklahoma
Most states in USA do not impose any documents besides the Articles of Association, but it is recommended to consider, create and sign an operating agreement with information about the obligations and liabilities of the owners and the board of managers, the voting rights and details about how dissolution can be made. This is an internal document of the company which, in most cases, is suggested but not imposed.
Apply for EIN in Oklahoma
In order to align with the tax requirements, companies in Oklahoma need to obtain the Employer Identification Number or simply the EIN which is issued by the Internal Revenue Service (IRS) in USA through the local offices in Oklahoma. This is a federal tax ID which shows that your company is registered for tax purposes before commencing the activities in Oklahoma. If you need help with the requirements of EIN in this state, do not hesitate to ask our consultants for help.
Taxes in Oklahoma
At the moment, the sales tax in Oklahoma is set at 4.5% rate, but municipalities can impose their own sales tax not exceeding 5.5%. When starting a business in Oklahoma it is suggested to know about all taxes linked to your business and activities, in order to avoid any possible penalties in this sense.
Business licenses and permit in Oklahoma
It is good to know that different activities in Oklahoma require licenses and permits in the first instance. If you want to open a financial company in Oklahoma or act as a financial advisor in your firm, you should apply for a business license in this sense with the Oklahoma Department of Securities & Exchange. Also, persons who want to open restaurants in Oklahoma need to obtain the health and building permits before operating on the market.
Economy overview of Oklahoma
Oklahoma has a diversified economy and a wide range of prolific sectors which sustain the state’s GDP among many others. The state is known for the large production of wheat and the exports in this sense, but also for well-developed sectors like telecommunication, energy, food processing or aviation. Oklahoma City is the capital of Oklahoma and the main destination for business, as recognized by Forbes Magazine a few years ago. Foreign entrepreneurs can also establish their investments in cities like Tulsa, Edmond, Norman, Lawton or Bartlesville.
If you would like to know more details about how to enter the business market in Oklahoma and the conditions in this sense, we invite you to contact our team of company formation representatives in USA.