LLC Cost in Oklahoma | How Much Does It Cost to Start an LLC

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LLC Costs in Oklahoma

Forming a Limited Liability Company (LLC) in Oklahoma is a popular choice for entrepreneurs and small business owners who want to protect their personal assets and enjoy flexibility in their business operations. LLC formation costs vary from state to state, and it is essential to understand the costs involved in forming and maintaining an LLC in Oklahoma.

If you would like to know more about the Oklahoma LLC Cost, read the whole article until the end. Webinarcare Editorial Team will help you gain knowledge on how much an LLC Costs in Oklahoma. You must be guided by all the factors gathered in this article.

How to Start an LLC?

Before we dive into the LLC Cost in Oklahoma, you should know the step-by-step process of starting an LLC, including selecting a unique business name, appointing a Registered Agent, filing the necessary documents, and fulfilling any additional requirements, such as obtaining licenses or permits that are specific to your industry or location.

Here are the steps in starting an LLC in Oklahoma:

  • Step 1: Choose a Unique Business Name
    The first step in starting an LLC in Oklahoma is to select a unique business name for your company. The name should be distinguishable from any other registered businesses in the state. You can check the availability of your desired business name by searching the state’s business name database. Once you’ve found an available name, you may need to include “LLC” or “Limited Liability Company” at the end of the name to comply with state requirements.
  • Step 2: Appoint a Registered Agent
    A Registered Agent is someone who will receive official legal and tax documents on behalf of your LLC. The Registered Agent must have a physical address in Oklahoma and be available during normal business hours. You have the option to appoint yourself as the registered agent or hire a professional registered agent service.
  • Step 3: File the Articles of Organization
    To officially form your LLC, you need to file the Articles of Organization with the Oklahoma Secretary of State or the appropriate state agency. The Articles of Organization typically requires basic information about your LLC, such as its name, address, Registered Agent details, and the name and address of the LLC’s members or managers.
  • Step 4: Create an Operating Agreement
    Once your LLC is formed, it’s highly recommended to create an operating agreement in Oklahoma. Although not required by Oklahoma law, an operating agreement is a crucial internal document that outlines the ownership, management, and operating procedures of your LLC. It helps establish clear guidelines and expectations among members, and it can be especially useful in the event of disputes or disagreements in the future. The operating agreement can be customized to fit the specific needs and goals of your LLC.
  • Step 5: Obtain Required Licenses and Permits
    Depending on the nature of your business, you may need to obtain specific licenses or permits at the federal, state, or local level. Research the licensing requirements in Oklahoma and apply for business licenses in Oklahoma related to your industry or activities. Common examples include professional licenses, health or safety permits, and sales tax permits.
  • Step 6: File for an Employer Identification Number (EIN)
    An Employer Identification Number (EIN) is a unique nine-digit number issued by the Internal Revenue Service (IRS) that is used to identify your LLC for tax purposes. Even if you don’t have employees, obtaining an EIN is typically required if you plan to open a business bank account, hire contractors, or file certain tax forms. You can easily apply for an EIN in Oklahoma through the IRS website.
  • Step 7: Comply with Ongoing Requirements
    Once your LLC is established in Oklahoma, it’s important to stay in compliance with any ongoing requirements. This may include filing periodic reports, paying Annual Report fees, and renewing licenses or permits. Familiarize yourself with the specific obligations for maintaining your LLC’s good standing in Oklahoma.

Remember, starting an LLC in Oklahoma involves some specific steps and requirements that may differ from other states. It’s advisable to hire an LLC Services in Oklahoma that specializes in business formation to ensure that you follow all the necessary procedures accurately and efficiently. We reviewed the Best LLC Services for you to check out.

LLC Cost in Oklahoma

It is crucial to consider the costs associated with the formation and maintenance of your business. The costs of establishing and operating an LLC in Oklahoma can vary based on several factors, including the initial formation fees, ongoing compliance requirements, and optional expenses.

Initial LLC Costs

When starting a limited liability company (LLC), knowing the initial costs associated with forming and registering your new business entity is essential. Understanding and preparing for these expenses can help you budget effectively and set your Oklahoma business on a path to success. Some common initial costs associated with forming an LLC include Articles of Organization filing fees, Registered Agent fees, and additional services, such as business name reservation fees. 

Articles of Organization Filing Fee

The first step in forming an LLC in Oklahoma is to file the Oklahoma Articles of Organization with the Oklahoma Secretary of State. This document officially creates the LLC and includes essential information about the business, such as its name, address, and Registered Agent. 

This document includes essential information about your LLC, such as:

  • The name of your LLC
  • The address of your LLC’s principal office
  • The name and address of your Registered Agent
  • The purpose of your LLC (optional in some states)

You can typically file the Articles of Organization online, by mail, or in person. A filing fee is associated with this process, which costs around $100. You can also file by mailing it to Oklahoma Secretary of State, which is located at Oklahoma Secretary of State, 421 N.W. 13th Suite 210, Oklahoma City, OK 73103.

Recommended: Filing formation papers is easy and hassle-free if you hire a professional service. We recommend using –

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Registered Agent Fee

An LLC in Oklahoma must designate a Registered Agent who will be responsible for receiving legal and government documents on behalf of the business. You can act as your own Registered Agent or appoint someone you know. Professional Registered Agent in Oklahoma typically charge an annual fee ranging from $50 – $150.

 In Oklahoma, your Registered Agent must:

  • Be a resident of Oklahoma or a business entity authorized to do business in the state.
  • Have a physical address in Oklahoma (P.O. boxes are not acceptable)

Choosing a reliable and responsible Registered Agent is essential, as failure to receive and respond to legal documents can seriously affect your business. 

We reviewed some of the Best Registered Agent Services in Oklahoma and provided features as an add-on with their packages for you to check out.

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Business Name Reservation Fee

If you have a specific business name in mind and want to ensure it is available when you are ready to file your Articles of Organization, you can reserve the business name with the Oklahoma Secretary of State. 

In Oklahoma, your LLC name must:

  • Include the words “Limited Liability Company,” “LLC,” or “L.L.C.
  • Not contain any words or phrases that are prohibited by state law
  • Be distinguishable from the names of other businesses registered in the state

However, if you do not wish to file your LLC right away but want to hold the name that you have decided on, then you can reserve your LLC name for 60 days. You must file a name reservation application in the Oklahoma Secretary of State to keep the name. 

The online name reservation fee is $25, while the mail name reservation fee is $25. You can register your business under a different legal name if your preferred name isn’t available. Once you have chosen a name, you can submit an application for a DBA (doing business as). If you have decided to file for a DBA, you can file it in two methods, by mail, and in person. However, before filing Oklahoma DBA, you should know that you need to renew your DBA, which cost $25.

Recommended: Embark on your entrepreneurial journey confidently and affordably with LegalZoom’s DBA service, the beacon that guides businesses to credible branding and comprehensive compliance. Discover how effortless success can truly be!

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Ongoing LLC Costs

After you know the initial costs of forming an LLC in Oklahoma, you should also know the ongoing costs once you have filed for an LLC. Here are the involved costs that you need to know.

Annual Report Filing Fee

To keep your LLC in good standing, you must file Annual Report with the Oklahoma Secretary of State. The Annual Report provides updated information about your LLC, such as changes in address, members, or Registered Agent. 

In Oklahoma, the Annual Report fee costs $25 which can be paid every 1 year.

Franchise Tax or Annual LLC Tax

Some states require LLCs to pay an annual franchise or LLC tax, separate from the Annual Report filing fee. Franchise tax, or annual tax, is a fee imposed by Oklahoma on businesses, including LLCs and Oklahoma Corporations, for the privilege of operating within their jurisdiction. This tax is separate from income taxes and is usually based on factors such as the company’s net worth, assets, capital, or a fixed dollar amount, depending on the Oklahoma‚Äôs specific tax regulations. 

Oklahoma LLC Taxes To Be Paid

The State of Oklahoma is one of those rarest states in the United States that does not levy any personal income tax on businesses. However, the business LLCs must file other taxes with the State authorities.

  • Sales Tax: A sales tax is a government-imposed tax on the sale of goods and services. It is generally added to the price of a product or service at the point of sale and paid by the consumer. The tax is collected by the retailer or service provider, who then remits the collected tax amount to the relevant government authority. In Oklahoma, the sales tax rate is 4.50%. 
  • State Income Tax: Considering other taxes in Oklahoma, you should pay for the state income tax, with a rate of 6.00%. 
  • LLC Federal Self-Employment Tax: Federal self-employment tax rates are the same across all states. Self-employment taxes are imposed on self-employed individuals or members of a Limited Liability Company (LLC) taxed as a sole proprietorship or partnership.
  • Property Tax: The property tax is fixed at 0.88% of industrial, commercial, residential, agricultural, and all other properties.

Business Licenses and Permits

Depending on the nature of your Oklahoma business and the location of your operations, you may need to obtain permits and business licenses in Oklahoma. The costs of these licenses and permits will vary based on your specific business and location. In Oklahoma, the business license ranges from $50 – $300. However, research the requirements for your LLC in Oklahoma and budget for these expenses accordingly.

Optional LLC Costs

Here are the optional costs you must consider if you will form an operating agreement or hire a professional service.

Operating Agreement

Although not required by law, it is highly recommended that LLCs create an operating agreement in Oklahoma. This document outlines the LLC’s ownership structure, management, and operating procedures. Hiring a business attorney to draft an operating agreement can cost anywhere from $500 to $2,000, or you can use online resources and templates to create one yourself.

Professional Services

You may hire professionals such as attorneys, accountants, or business consultants to help you establish and run your Oklahoma LLC. These services can provide valuable expertise and guidance but come at an additional cost. Consider the potential benefits and weigh them against the costs when hiring professional assistance.

You may check out the Best Business Attorney Services in Oklahoma that offer their professional services to form your business.

Can I Set Up an LLC For Free?

It’s impossible to set up an LLC entirely for free, as state filing fees and other costs are associated with establishing an LLC. However, you can save money by handling the formation process instead of hiring a professional service. Here are some steps to help you minimize the cost of setting up an LLC:

  • Choose your LLC’s name and check for availability in your state. This can generally be done through the Secretary of State’s website.
  • Prepare and file the Articles of Organization yourself. Oklahoma offer an online filing option or downloadable forms on their websites. By completing this process independently, you can avoid paying additional fees for a professional service.
  • Act as your own Registered Agent if permitted within Oklahoma. It allows the business owner to serve as the Registered Agent, saving you the cost of hiring a professional registered agent service.
  • Create your own Operating Agreement using online resources and templates. Although not required in every state, an Operating Agreement is highly recommended to outline your LLC’s ownership structure and management. By drafting this document yourself, you can save on legal fees.
  • Research and apply for any required licenses and permits on your own. Depending on your business type and location, you may need specific permits or licenses. These costs can vary, but handling the application process yourself can save you the expense of hiring a professional service.

While you can’t set up an LLC for free, taking a do-it-yourself approach and minimizing the use of professional services can help you save money during the formation process. However, handling these tasks requires time and effort, and there may be additional legal or financial risks if mistakes occur.

FAQs

What is the cost to register an LLC in Oklahoma?
The cost to register an LLC in Oklahoma is $100.
Can you register an LLC online in Oklahoma?
Yes, you can register an LLC online in Oklahoma through the Oklahoma Secretary of State’s website.
Is there a fee for filing a trade name with my LLC in Oklahoma?
Yes, there is a $25 fee to file a trade name with your LLC in Oklahoma.
How much does it cost to file a certificate of formation for an LLC in Oklahoma?
It costs $100 to file a certificate of formation for an LLC in Oklahoma.
Are there any additional fees to register an LLC in Oklahoma besides the filing fee?
No, there are no additional fees to register an LLC in Oklahoma besides the $100 filing fee.
What is the cost of a name reservation for an LLC in Oklahoma?
It costs $10 to reserve a name for your LLC in Oklahoma.
Can I file for an LLC in Oklahoma without a registered agent?
No, as per the Oklahoma LLC Act, every Oklahoma LLC is required to have a registered agent for service of process.
Is the registered agent required at the time of registration of the LLC in Oklahoma?
Yes, you must provide the name and address of the registered agent at the time of registration of the LLC in Oklahoma.
What is the basic annual fee for an LLC in Oklahoma?
The basic annual fee for an LLC in Oklahoma is $25.
Are there any additional annual fees for an LLC in Oklahoma?
No, there are no additional annual fees for an LLC in Oklahoma.
How often do you have to file an annual report for an LLC in Oklahoma?
You are required to file an annual report for your LLC in Oklahoma every year.
Is there a fee to file an annual report for an LLC in Oklahoma?
Yes, there is a $25 fee to file an annual report for an LLC in Oklahoma.
What is the late fee for filing an annual report for an LLC in Oklahoma?
The late fee for filing an annual report for an LLC in Oklahoma is $200.
How can I obtain a certified copy of my LLC’s documents in Oklahoma?
You can obtain a certified copy of your LLC’s documents in Oklahoma by contacting the Secretary of State’s office and paying the specified fee.
Is it possible to convert an LLC to a corporation in Oklahoma?
Yes, it is possible to convert an LLC to a corporation in Oklahoma, but this requires filing Articles of Incorporation and then dissolving the LLC.
What is the cost to convert an LLC to a corporation in Oklahoma?
It costs $50 to file Articles of Incorporation in Oklahoma.
Can an LLC in Oklahoma be taxed as an S corporation?
Yes, an LLC in Oklahoma may choose to be taxed as an S corporation.
What are the benefits of taxation as an S corporation for an LLC in Oklahoma?
One benefit of taxation as an S corporation for an LLC in Oklahoma is that business owners may save on self-employment taxes.
Is there a fee to convert an LLC tax designation to an S corporation in Oklahoma?
No, there is no fee to convert the tax designation of an LLC to an S corporation in Oklahoma.
Does an LLC in Oklahoma have to file a franchise tax return?
Yes, every Oklahoma LLC is required to file an annual franchise tax return.
What is the franchise tax rate for an LLC in Oklahoma?
The franchise tax rate for an LLC in Oklahoma is $1.25 per $1,000 net worth.
When is the franchise tax return due for an LLC in Oklahoma?
The franchise tax return for an LLC in Oklahoma is due by July 1 each year.
What is the cost to obtain a Certificate of Good Standing for an LLC in Oklahoma?
It costs $25 to obtain a Certificate of Good Standing for an LLC in Oklahoma.
What is the filing fee for an amendment to an LLC in Oklahoma?
The filing fee for an amendment to an LLC in Oklahoma varies depending on the type of amendment.
Is there a fee for a name change amendment to an LLC in Oklahoma?
Yes, there is a $25 fee for a name change amendment to an LLC in Oklahoma.
What is the fee for filing a biennial report for an LLC in Oklahoma?
Oklahoma LLCs are not required to file a biennial report.
Are Oklahoma LLCs required to obtain a business license?
Licensing requirements for LLCs vary by industry and location, and may also be subject to state regulations.
Does Oklahoma require an LLC to file an annual report?
Yes, Oklahoma requires LLCs to file an annual report and pay a $25 fee.
How do I dissolve an LLC in Oklahoma and is there a fee?
You can dissolve an LLC in Oklahoma by filing Articles of Dissolution with the Secretary of State. There is a $50 filing fee.
How much does it cost to form an LLC in Oklahoma?
The filing fee to form an LLC in Oklahoma is $100.
Is there a publication or newspaper requirement for LLC formation in Oklahoma?
No, there is no publication requirement for LLC formation in Oklahoma.
Can I form an LLC in Oklahoma with just one member?
Yes, Oklahoma allows for single-member LLCs.
What is the annual fee for an LLC in Oklahoma?
The annual fee for an LLC in Oklahoma is $25.
Can non-US citizens form an LLC in Oklahoma?
Yes, non-US citizens can form an LLC in Oklahoma.
Do I need to hire an attorney to form an LLC in Oklahoma?
No, hiring an attorney is not required to form an LLC in Oklahoma.
How much does it cost to convert a sole proprietorship to an LLC in Oklahoma?
The fee to convert a sole proprietorship to an LLC in Oklahoma is $100.
What is the processing time for an LLC application in Oklahoma?
The processing time for an LLC application in Oklahoma is typically 2-3 business days.
Can I file my LLC paperwork online in Oklahoma?
Yes, you can file your LLC paperwork online in Oklahoma through the secretary of state’s website.
What is the minimum age requirement for owning an LLC in Oklahoma?
There is no minimum age requirement for owning an LLC in Oklahoma.
Are there any annual requirements to maintain an LLC in Oklahoma?
Yes, every LLC in Oklahoma is required to file an annual report with the Oklahoma Secretary of State and renew their LLC with the Oklahoma Tax Commission on an annual basis.
How many members can an Oklahoma LLC have?
An Oklahoma LLC can have an unlimited number of members.
Are there any residency requirements to form an LLC in Oklahoma?
No, there are no residency requirements to form an LLC in Oklahoma.
How long does an LLC formation last in Oklahoma?
LLC formation does not expire in Oklahoma once the certificate of organization has been processed.
What is the publication requirement for an LLC in Oklahoma?
There is no publication requirement for an LLC in Oklahoma.
Is the LLC formation fee refundable in Oklahoma?
No, the LLC formation fee is non-refundable in Oklahoma.
Can I change the name of my LLC after formation in Oklahoma?
Yes, you can change the name of your LLC through an amendment with the Oklahoma Secretary of State.
Do I need a physical address for my LLC in Oklahoma?
Yes, you must have a physical street address for your LLC in Oklahoma to receive mail.
Can I have a virtual office or mailing address for my LLC in Oklahoma?
Yes, you can have a virtual office or mailing address for your LLC in Oklahoma.
What is the fee for an Oklahoma LLC certificate of amendment?
The fee for an Oklahoma LLC certificate of amendment is $50.
Is an LLC taxed in Oklahoma?
Yes, an LLC in Oklahoma is taxed as either a sole proprietorship (if one member) or partnership (if multiple members) by default, but can also choose to be taxed as an S corporation or C corporation if desired.
What is the fee to file for an Oklahoma LLC certificate of dissolution?
The fee to file for an Oklahoma LLC certificate of dissolution is $50.
How often do I need to renew my Oklahoma LLC?
You are required to renew your Oklahoma LLC annually.
Can I reserve a name for my LLC in Oklahoma?
Yes, you can reserve a name for your LLC in Oklahoma for a fee of $10.
How do I dissolve an LLC in Oklahoma?
You can dissolve an LLC in Oklahoma by filing a certificate of dissolution with the Oklahoma Secretary of State.
How long does it take to dissolve an LLC in Oklahoma?
It typically takes a few weeks to dissolve an LLC in Oklahoma.
Do I need an operating agreement for my LLC in Oklahoma?
No, an operating agreement is not required for an LLC in Oklahoma, but it is highly recommended.
Can I change the registered agent for my LLC in Oklahoma?
Yes, you can change the registered agent for your LLC in Oklahoma by filing a statement of change of registered agent.
Can I form an Oklahoma LLC for nonprofit purposes?
Yes, you can form an Oklahoma LLC for nonprofit purposes, but it is recommended to form a nonprofit corporation instead.

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Conclusion

Forming and maintaining an LLC in Oklahoma involves various costs, including initial filing fees, ongoing annual report fees, and taxes. Understanding and planning for these costs is essential when establishing your LLC. Additionally, consider any optional expenses, such as hiring professional services or drafting an operating agreement, to ensure the success and longevity of your LLC in Oklahoma.

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