The first step in domesticating a business in Oklahoma is to make sure it is qualified. The entity must be in good standing with its home state and have the necessary permits to conduct business there. The business must also be able to satisfy all Oklahoma state criteria for the kind of entity it is, such as a corporation or a limited liability company (LLC).
Contrarily, a business entity that is registered in a state other than Oklahoma yet conducts business there is referred to as a foreign business. To conduct business in Oklahoma, a foreign corporation must register with the Oklahoma Secretary of State’s office and get a certificate of authority.
In Oklahoma, the answer to whether or not an LLC needs to be renewed annually is no. Although LLCs in Oklahoma must submit an annual certificate to the Secretary of State’s office and pay a fee, LLCs in Oklahoma do not expire. Depending on the type of company, different filing fees apply for the yearly certificate. If you’re curious about how much it costs to renew an LLC in Oklahoma, the annual certificate filing price is $25. Although the base rate is $25, there can be extra costs for faster processing or other services.
In conclusion, domestication is permitted in Oklahoma for companies wishing to relocate there, provided they meet specific criteria. To conduct business in Oklahoma, foreign corporations must register with the Secretary of State’s office. In Oklahoma, LLCs are perpetual but are required to submit an annual certificate, pay a fee, and be in good standing. The annual certificate filing fee is $25.