There are several key industries in Oklahoma which are not only making a positive impact on the economy and GDP but have also witnessed strong growth. There are several industries where incorporation in Oklahoma can help you reap long-term benefits. The Greater Oklahoma City is one of the regions that are home to one of the largest concentration of aviation or aerospace firms and this technology-intensive industry is playing a key role in decreasing unemployment numbers. Energy is another top industry with oil and natural gas generating a large share of the revenue for this industry. Oklahoma is also home to 70-plus data centers with giants like Google and IBM making the most of a highly skilled work force.
Why Choose Oklahoma for Incorporation?
Sometimes, known as the state of motivation and success, Oklahoma has created the just the right environment for businesses. If you set up company in Oklahoma, you will be able to take advantage of some of the lowest tax rates and highly beneficial tax incentives. This is probably amongst the many reasons why small businesses have mushroomed in the state in the recent times.
Now let’s take a look at some of the salient benefits that are responsible for fuelling growth of small businesses:
- Enterprise Zones: The Oklahoma Department of Commerce has designated certain areas as “Enterprise Zones (EZ)” and this consists of primarily disadvantaged cities or counties. If you set up company in Oklahoma enterprise zone then you can avail of one of the most competitive business incentive package in the state. Apart from this, if your business obtains ad valorem exemptions from a local taxing entity then it may be exempted for a period of six years. Financial support is also available in the form of low interest loans. Enterprise Zones Map
- Business Expansion Incentive Program: The Business Expansion Incentive Program assists business entities that make investments in depreciable items like equipment, machinery, and buildings. As a part of this program, you will get annual cash payment awards, which will help your business to grow and expand in Oklahoma.
How do you incorporate in Oklahoma?
What is the process of company incorporation in Oklahoma? Do you require any specific documents? How can you submit or file these documents? These are some of the questions that you will be confronted with and hence the following steps will provide you with information on how incorporation works in Oklahoma:
Type of Business
What type of business would you like to form in Oklahoma? There are a variety of businesses you can form in the state of Oklahoma and this includes Domestic and Foreign Business Corporation, Nonprofit Corporation, Limited Partnerships, and Domestic and Foreign Limited Liability Company among others. If you are planning company incorporation in Oklahoma or forming an LLC then it is important to first identify the type of business you want to set up.
Business Entity Name
What is the next step towards incorporation in Oklahoma? The next step is to identify and reserve a name and this can be done as follows:
- Naming Requirements: The naming requirements in the state of Oklahoma are governed by 18 OK Stat § 18-2009 (2014) for an LLC and 18 OK Stat § 18-1139 (2014) for a Corporation. The name of each limited liability company must contain words like “Limited Liability Company” or abbreviations like “L.L.C.” or “LLC”. A corporate name must contain words like “corporation”, or “incorporated” or abbreviations like “corp.” or “inc.
- Business name search: You need to search for a business name that is not in use currently. You can conduct name search here.
- Name Reservation: Once you have identified business entity name, you can reserve the name with the Secretary of State for a period of 60 days. Business Name Reservation
- Name Registration: If you are foreign entity planning to set up company in Oklahoma then you will be required to register business name with the Secretary of State if your existing legal name is prohibited by Title 18, Section 2008 of the Oklahoma Statutes. Foreign Name Registration
Choose a Registered Agent
Each Business or Professional Corporation and Limited Liability Company in the state of Oklahoma is required to maintain a registered agent pursuant to 18 OK Stat § 18-2010 (2014) for an LLC and 18 OK Stat § 18-1022 (2014) for Corporations.
We are one of the respected registered agents in Oklahoma and will be responsible towards initiating company incorporation in Oklahoma through processing of all your documents including “Articles of Organization” and “Certificate of Incorporation” for domestic business entities and “Application for Registration” and “Certificate for Qualification” for foreign entities.
Certificate of Incorporation and Certificate of Qualification
If you are planning to form a domestic corporation (For profit), then you will have to file “Certificate of Incorporation” pursuant to 18 OK Stat § 18-437.18 (2014). If you are planning foreign business incorporation in Oklahoma then you will be required to file a “Certificate of Qualification” pursuant to 18 OK Stat § 18-437.23 (2014). In order to streamline the process we can file documents on your behalf through the online process or through expedited process.
Date Stamped Copies
As a part of the process of company incorporation in Oklahoma, we will ensure, you receive date-stamped and filed copies that verifies the state has filed as well as formed your corporation.
Costs and Fees associated with Oklahoma Incorporation
What would it cost to set up company in Oklahoma? Check Fees here!