If you consider forming a limited liability company (LLC) in Oklahoma, you will want to know all business formation expenses.
To help you finish this process as soon as possible, we spent weeks researching all the costs needed to establish an LLC in Oklahoma.
Establishing an LLC in Oklahoma requires more than the initial fee, but with our short guide, it doesn't have to break your budget. This article will help you find out everything about Oklahoma LLC's cost details.
Quick Summary
- An LLC in Oklahoma costs $100.
- In Oklahoma, all LLCs are legally mandated to appoint a registered agent, whether it is themselves or through a registered agent service.
- Some of these costs are payable to the Oklahoma Secretary of State (SOS), while others are due to the federal or other state government entity.
How Much Does An LLC Cost In Oklahoma?
An LLC in Oklahoma costs $100. Establishing your Oklahoma LLC entails submitting Articles of Organization to the Oklahoma Secretary of State and paying a $100 filing fee; however, it can reach $104 due to credit card payments.
Let us break down the costs of establishing and running an Oklahoma LLC.
All Oklahoma-based LLCs have an Oklahoma LLC annual report fee or an Oklahoma annual certificate fee of $25 [1].
Every year, on the anniversary month of your LLC's inception, you must submit this required certificate to remain compliant with state regulations.
Oklahoma LLC Filing Fee
The Oklahoma LLC filing fee costs just $100. A one-time state filing fee covers the creation of your organization's Articles of Organization.
You can opt for online, mail-in, or in-person filings and experience same-day approval with an additional charge of $25.
To legally register your Oklahoma Series LLC with the Oklahoma Secretary of State, it is necessary to include a liability statement within its Articles of Organization.
Additionally, you must submit an individual Oklahoma LLC operating agreement for each series to create other LLCs formally.
Oklahoma Registered Agent Service Fee
In Oklahoma, every LLC is legally required to have a registered agent. To qualify as an Agent in the Sooner State, individuals must maintain a valid address (no post office boxes accepted) and be accessible throughout regular business hours to take state mail on behalf of their organization.
Though some members of an LLC may choose to act as their own registered agent in Oklahoma to save money, doing this requires them to remain available from 9:00 am - 5:00 pm Monday through Friday for all 52 weeks out of the year.
Oklahoma Business And License
You're accountable for ensuring you have the necessary state, federal, or local business licenses to operate your organization.
Specific associated fees require one-time payments, while others are recurring costs.
Depending on the situation, permits and licenses can vary significantly based on the following:
- If your Limited Liability Company is involved in any particular industry (e.g., a restaurant would need health permits), you must obtain the necessary certifications and licenses before commencing operations.
- Whether in Tulsa or outside of it, having an LLC license from the city is essential for conducting business.
- Companies must abide by relevant regulations no matter the industry – for instance, healthcare providers must satisfy HIPAA requirements.
Other LLC Filing Costs
Here is a list of all the other LLC fees and costs you may need to pay when starting an LLC in Oklahoma.
1. Oklahoma Business Name Cost
You will not have to spend a dime to name your LLC in Oklahoma.
Provide all the required information when submitting your Articles of Organization, and the state will approve your company's name and filing at no extra charge.
You do not need any form of payment for reserving names before starting your Oklahoma limited liability company. However, you should first look up an LLC in Oklahoma to see if your desired name is available.
2. LLC EIN Number Fee
An Employer Identification Number (EIN) or Federal Employer Identification Number (FEIN) is an invaluable number that provides a wealth of benefits, including the ability to file income taxes, open LLC bank accounts, and even hire employees.
Obtaining an EIN for your LLC doesn't have to cost you a cent. The online filing is free and can be completed directly with the Internal Revenue Service (IRS).
3. Oklahoma LLC Annual Certificate Fee
To remain compliant with Oklahoma state regulations, it is essential to periodically file an Annual Certificate that confirms the details of your LLC.
Filing this certificate with the Oklahoma Secretary of State and paying the $25 fee will guarantee that your company remains in good standing.
4. Oklahoma Business License And Permit Fees
Depending upon the region in Oklahoma where your LLC is based and what industry you're investing in, additional Business Licenses or Permits may be required. For example, a City Business Permit might be necessary.
The associated fees for business licenses or permits may vary depending on your industry and location.
You won't be paying too much in terms of cost as most licenses and permissions are issued at either a state or local level (such as town, city, or county).
5. LLC Taxes
If you're an LLC owner in Oklahoma, you must be aware of the various taxes of this type of business. These annual costs can range significantly depending on your circumstances and may include the following:
- Federal taxes
- State income tax
- Local income tax
- Business taxes
- Franchise tax
Taxes for your Oklahoma LLC are contingent on your line of business and the amount of sales activity, so an exact figure is out of the question.
Every company has distinct parameters when it comes to taxes, which is why we advise inquiring with the Oklahoma Tax Commission regarding how a proprietor in this state files their tax returns.
6. Amending Certain Facts About Your LLC
Your Oklahoma business formation documents display the facts about your company at the moment of inception.
Unfortunately, as time progresses, these particulars may need to be amended.
To make any changes official, you must submit an Amended Articles of Organization form and pay a $50 filing fee to the Oklahoma Secretary of State's office [2]. You may want to file Articles of Amendment when you:
- Add, remove, or modify an LLC member or manager
- Update the address of your LLC
- Change the stated business activities of your LLC
7. Getting An Oklahoma Certificate Of Good Standing
Specific organizations may ask you to demonstrate your LLC's conformance with regulations and taxation restrictions.
Should it become necessary to verify that you've complied with such commitments, an Oklahoma Secretary of State Certificate of Good Standing will be required.
You can quickly get one online for a nominal fee of $20.
8. Oklahoma Foreign LLC Registration
Before introducing a branch of your business from another state to Oklahoma, you must acquire the Oklahoma Foreign Qualification.
This signifies that the state has conferred authorization for conducting business in its jurisdiction. The fee will be around $300.
Foreign Qualification To Operate In Oklahoma
A foreign LLC must submit an Application for Registration of Foreign Limited Liability Company with the Oklahoma Secretary of State and pay a nominal filing fee of $300 ($312 if using a credit card payment).
Additionally, some necessary processes must be completed before it can legally conduct its operations.
You must file for Foreign LLC Qualification or a Certificate of Authority from the applicable state to broaden your Oklahoma LLC into another state.
This filing is obligatory if you plan to have an establishment in that area, including staff members, or engage in banking operations there.
To ensure that everything goes well once you're ready to file, contact the Oklahoma Secretary of State or other relevant government entity in your state for details on what is required of businesses registering officially.
FAQs
What Types Of Businesses Can Be LLCs In Oklahoma?
Types of businesses that can be LLCs in Oklahoma are any lawful activity (industry, purpose, or activity) operated as an LLC except for domestic insurers—even if the company is not conducted to make a profit.
How Much Does An Oklahoma Business Bank Account Cost?
The Oklahoma business bank account costs can vary. Before you get an LLC business bank account, call to inquire about the potential for waiving the typical monthly fees ($10-20). Many banks will waive these charges if certain conditions are met – like a minimum balance or direct deposits.
Do You Need Professional Help With Your Oklahoma LLC?
To be sure every step needed to form an LLC in Oklahoma is executed accurately, enlist the support of a professional—the cost with the Oklahoma Secretary of State filing fee is just over $100.
Connecting with an attorney to assist you in forming your LLC and any additional guidance necessary is essential for success.
These professional LLC services will help you navigate Oklahoma's laws so your enterprise always complies with the regulations.
References:
- https://www.sos.ok.gov/business/fees.aspx
- https://www.sos.ok.gov/forms/Fm0079.PDF
