How to Form an LLC in Oklahoma is a concern for anyone interested in starting their own business in Tulsa. Business owners and entrepreneurs will often hire business law and formation attorneys to help establish their companies. In a large percentage of entrepreneurial endeavors, the owner will form an LLC, or Limited Liability Company. People choose to form an LLC because of the great flexibility it allows in the owner(s) to manage and control the business while protecting their personal assets from liability if the business is sued or fails. This article is a short summary of how to form an LLC in Oklahoma and how a Business layer may be able to help.
Steps to Form an LLC in Oklahoma
Five basic steps answering the How to Form an LLC in Oklahoma question:
- Select a State. You can form an LLC in any state you wish. It will however, come with limiting factors depending on the state laws. However, we encourage you to consider first starting your LLC in the state where you will operate most often.
- Name your LLC. When choosing to name your LLC, you can check with the state offices to ensure your name is available. Many times this will require you to check with the Secretary of State for the state where you are registering. In Oklahoma, this is the Secretary of State’s offices. Once choosing a name, you may register for the name to hold it while you complete your paperwork.
- Choose a Registered Agent. A registered agent is the person who files paperwork, reports, and any legal forms on behalf of the LLC. Further, the registered agent can be the owner of the LLC. But, the registered agent must also live in the state the LLC is operating in.
- File the Articles of Organization. The Articles of Organization provide the basic information of your LLC. This generally includes the name of the registered agent, the name of the LLC, and the mission or purpose of the LLC.
- Create an Operating Agreement. This is the internal policies and procedures the LLC must follow. It outlines how to manage company finances, employer-employee relationships, etc.
SEE OUR OTHER LEGAL SERVICES FOR BUSINESSES.
Reasons to Form an Oklahoma LLC?
LLC’s are beneficial for several reasons. First, the process can take as little as one month. It mostly depends on how quickly you can gather and submit the paperwork. Second, an LLC is relatively cheap to form. It can cost from $50 to $500 depending. Finally, as stated above, LLC’s protect the owner’s personal assets from liability if the company is sued or fails. Further, there is no requirement for annual meetings and you can report the LLC’s taxes on your personal taxes to prevent double taxation of your income.
Business Lawyers in Tulsa Helping Form LLC
How to Form an LLC in Oklahoma is something we can help you with. Sometimes when creating the Operating Agreement and filling out registration forms, you can get overwhelmed. Attorneys can help unravel the red tape and get you where you need to be faster and more effectively. If you want to form an LLC, call our Business Attorneys. We have years of experience in starting companies for our clients. Your first consultation is free so you know you can be comfortable with our services before proceeding. Call 918.743.2233