Converting DBA to LLC: What You Need to Know

You’re not the only one who is thinking about changing your DBA (Doing Business As) to an LLC (Limited Liability Company). To benefit from the advantages an LLC offers, such as personal liability protection and significant tax advantages, many business owners decide to make this shift.

You must first submit Articles of Organization to the Secretary of State’s office in your state. This document creates your LLC and contains details like the company’s name, address, and members’ names. A filing fee, which varies by state, is also required.

You must transfer any assets or contracts from your DBA to the new LLC after it has been formed. This could entail changing leases, vendor contracts, and bank accounts. Additionally, you’ll need to get your LLC new business licenses and permissions.

Choosing a registered agent for your LLC is a crucial next step in the procedure. This is a person or organization who is permitted to accept legal documents and notices on your company’s behalf. You cannot be your own registered agent in the majority of states, thus you must select a different person who complies with your state’s standards. This could entail having a physical address in the state and residing there.

So who is eligible to serve as a registered agent? As a registered agent, you can be anyone in some places, but in others, you need to be a resident of the state or work for a registered agent service provider. To find out who can act as your LLC’s registered agent, you’ll need to examine the regulations set forth by your state.

In Oklahoma, changing your registered agent is a rather straightforward procedure. The Oklahoma Secretary of State’s office will require that you submit a Statement of Change of Registered Agent and/or Registered Office. You must include the name and address of your new registered agent and pay a filing fee for this form.

Oklahoma does have a W-4 form for tax purposes, which is used to calculate how much state income tax should be deducted from an employee’s paycheck. When an employee is employed and if their tax position changes, employers must have them fill out a W-4 form.

You can order Oklahoma tax forms online from the Oklahoma Tax Commission’s website if you need them. The website gives users access to various tax forms, such as withholding tax forms, sales tax forms, and income tax forms.

Converting a DBA to an LLC necessitates considerable paperwork and careful consideration of your state’s business rules, to sum up. Before making the changeover, it’s crucial to take the time to comprehend the procedure and make sure you satisfy all the needs. Additionally, it’s always a good idea to speak with a business attorney or accountant who can offer direction and advise if you have any issues along the route.