Corporations are subject to a franchise tax in Oklahoma, whereas limited liability companies (LLCs) are not. In Oklahoma, LLCs are exempt from paying franchise tax, in contrast to corporations. Instead, LLCs in Oklahoma must pay a $25 yearly charge. The Oklahoma Secretary of State must receive payment for this charge by receiving an Annual Certificate together with the necessary payment.
You will require an EIN, or Employer Identification Number, if you are establishing an LLC in Oklahoma. The Internal Revenue Service (IRS) issues an EIN, a special nine-digit number, to identify your firm for tax purposes. You can submit an application for an EIN number in Oklahoma online through the IRS website, by mail, or by fax. Basic information about your company will need to be provided, such as the name and address of your LLC, the number of employees, and the nature of your firm.
A registered agent is a person or organization chosen to accept legal documents on behalf of an LLC in Oklahoma. The registered agent must be an individual who resides in Oklahoma or a company that is permitted to conduct business there. The Certificate of Organization submitted to the Secretary of State of Oklahoma must contain the name and address of the registered agent. The registered agent plays a crucial function because they are in charge of receiving any legal notices or paperwork pertaining to your LLC.
You must confirm that a business name is available in Oklahoma before using it. Through the Oklahoma Secretary of State’s online database, you can determine whether a business name is available in Oklahoma. You will need to choose a different name for your LLC if the first option isn’t accessible.
The Oklahoma Tax Commission (OTC) suspending your LLC indicates that your company is no longer in good standing with the state. If your LLC does not submit its annual report or pay its yearly fees, the OTC may suspend it. You will need to submit any required reports or settle any unpaid fees in order to get back in good standing with the state. Your LLC will be revived as soon as the OTC receives the required paperwork and payment.
In conclusion, Oklahoma LLCs are subject to a $25 yearly charge but do not pay franchise tax. You can submit an online application through the IRS website to get an EIN number. In Oklahoma, an LLC must have a registered agent, who must either be a resident of Oklahoma or a company with permission to conduct business there. Check the online database of the Oklahoma Secretary of State before using a business name in Oklahoma. An LLC may be reinstated after the OTC suspends it by submitting any required reports or paying any outstanding costs.
On the website of the Oklahoma Secretary of State, you can perform a search to determine whether a company is registered in Oklahoma. You can look up businesses on the internet using the Business Entities Search function by name, registered agent name, or filing number. When you locate the company you are looking for, you can view its registration status as well as other details like its registered agent and address.