Due to their adaptability and security for business owners, Limited Liability Companies (LLCs) are a common business structure in Oklahoma. However, to keep their existence, LLCs must make regular filings and fees, just like any other business entity. The most frequently asked issues about LLCs in Oklahoma, including whether they expire, how to check their status, and how to submit annual reports, are addressed in this article.
In Oklahoma, LLCs do not expire. An LLC that has been established in the state will continue to exist until it is dissolved. To maintain their good standing, LLCs in Oklahoma must submit an annual report to the Secretary of State. Late fees, penalties, and even the loss of your LLC status may apply if the annual report is not submitted on time.
All business entities registered in the state of Oklahoma, including LLCs, are listed in the Oklahoma Secretary of State’s online database. This database can be used to verify that your LLC is active and to check its status. You will need to know your LLC’s name or registration number in order to look for it. You can check your LLC’s registration details, including its registered agent, address, and creation date, if it is currently operational.
In order to maintain their good standing, LLCs in Oklahoma must submit an annual report to the Secretary of State along with a $25 registration fee. The annual report must be submitted by the first day of the fourth month after the fiscal year for your LLC ends. The annual report can be submitted electronically through the Secretary of State’s website or by mail using a paper form. To file online, you must first register for a user account on the Secretary of State’s online filing platform, then complete and submit your annual report by following the on-screen instructions. You can file by mail by downloading the annual report form from the Secretary of State’s website, filling it out, and mailing it along with a check or money order for the filing fee to the address specified on the form.
The yearly report filing cost in Oklahoma is $25. When you submit your yearly report to the Secretary of State, this charge is payable. In addition to a $50 late fine, LLCs that fail to submit their annual report two years in a row risk having their status terminated.
In Oklahoma, LLCs do not expire, but they do need to file reports and make payments on a regular basis to keep their status. To avoid late fees, penalties, and having their LLC’s status revoked, LLC owners should be informed of the annual report filing requirements and deadlines. LLC owners can make sure that their companies maintain good standing with the state and continue to profit from the LLC structure by keeping up with these obligations.
In Oklahoma, unless exempt, all LLCs, domestic or international, are required to submit a Franchise Tax Return and pay the yearly franchise tax. As a result, all LLCs doing business in Oklahoma must submit an Oklahoma Franchise Tax Return.
Yes, the Oklahoma Secretary of State requires LLCs to pay a $25 yearly franchise tax. For the first year that the LLC is in operation, the tax is exempt.