How to Start a Corporation in Oklahoma
To start an Oklahoma corporation, you must file a Certificate of Incorporation with the Secretary of State and pay a $50 minimum filing fee. While this filing creates your business, it’s really just the first step to launching your Oklahoma corporation. The complete steps to incorporating in the Sooner State are as follows:
- File an Oklahoma Certificate of Incorporation
- Pay the Oklahoma Secretary of State a minimum of $50
- Wait to receive your approved Certificate
- Get a federal tax ID (EIN) for the corporation
- Create Oklahoma corporate bylaws
- Take these documents to the bank and get an Oklahoma corporate bank account
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Oklahoma Certificate of Incorporation free download. When you're done filling out the form, submit it to your state.
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2 Day Oklahoma Corporation For $280 Total
How to File an Oklahoma Certificate of IncorporationTo form an Oklahoma corporation, you file the Certificate of Incorporation in the following steps:
What is the Cost of an Oklahoma Corporation?
At least $50. This is the minimum fee for filing an Oklahoma Certificate of Incorporation. However, if your corporation has more than $50K of authorized capital, the filing fee increases by $1 for every $1K of capital. Paying with a credit card? You’ll also pay a 4% processing fee.
Hire Northwest and your total out-the-door cost is $280. We prepare and file your Certificate of Incorporation, give you a full year of registered agent service, and help you get started with loads of tools and forms, including corporate bylaws.
How Much Does a Corporation in Oklahoma Cost Each Year?
In addition to regular corporate taxes, Oklahoma has an Annual Franchise Tax. Corporations pay anywhere from $0 to a maximum of $20,000.Get Started
What is the Oklahoma Annual Franchise Tax?
The Oklahoma Annual Franchise Tax is a combination of an annual report and an annual tax. For the annual report part, you have to list the current contact information for all your corporate officers. For the annual tax part, you pay a rate of $1.25 for every $1,000 of capital used or invested in the state.
Don’t have much capital in Oklahoma? If you have $200K or less in capital used or invested in the state, you don’t owe any taxes (but you still have to file a schedule of corporate officers).
Your filing is due July 1st. Forget to file? After September 1st, you’ll pay a 10% penalty AND incur a 1.25% fee every month you’re late.
Taxes are no fun and annoying fees and penalties are even worse. Let us help. When you hire Northwest as your registered agent, we’ll send you report reminders to help make sure you don’t miss your filing deadline. Or, get rid of this headache entirely. Hire us to prepare and file your Annual Franchise Tax for you for just $100 (plus any tax owed).Get Started
What are the Taxes for an Oklahoma Corporation?
In addition to the Annual Franchise Tax, Oklahoma has a corporate net income tax. The rate is a flat 6%.
The state sales tax rate is 4.5%. However, cities and counties are allowed to tack on additional local sales taxes as well. To get an idea of what customers actually pay at the counter, below are the total sales tax rates in Oklahoma’s 5 largest cities:
Oklahoma City: 8.625%
Broken Arrow: 8.417%
Is a Registered Agent Required for an Oklahoma Corporation?
Absolutely. The state requires your corporation to appoint and maintain an Oklahoma registered agent. You’re investing real time and real money to make your business dreams come true. You may be used to pinching pennies and working your fingers to the bone, so it probably doesn’t seem like too much more to be your own registered agent as well. However, being your own agent comes with headaches that can distract you from your business.
For instance, you’ll have to list the address where you’ll be available in your Certificate of Incorporation. These types of public documents are common picking grounds for data sellers, meaning your address will likely end up on all sorts of mailing lists. You’ll also have to be available at this address during regular business hours. When you first start a business there are 101 different places you need to be at any given time—too many to be stuck in the office.
Sometimes the best thing you can do is hire good people. At Northwest Registered Agent LLC, we got our start in registered agent service, and it’s what we do best. Our success story is simple: we’re dedicated to making our clients’ jobs easier with our expert service. We list our address in your public documents and are available so you don’t have to be. We scan and send you any notices the same day, so you’re always on top of your game.Get Started
Oklahoma Corporation Versus Oklahoma LLC:
There are a few state quirks that can make either an Oklahoma corporation or an LLC more cost effective, depending on your business.
If you don’t have a lot of authorized capital or assets and don’t expect to transact a ton of business, a corporation will cost less in state fees: $50 to form and no minimum annual report fee. LLCs cost $100 to form and have a $25 annual report fee.
However, if you have over $100K in authorized capital, you’ll pay more than an LLC to form. And, if your corporation has over $200K of capital allocated or employed in Oklahoma, you’ll pay at least $250 a year, thanks to the state’s franchise tax.
There are other differences to consider as well. Corporations have stock, which can make raising capital and attracting investors easier. Corporations also have a longer legal history, so your business can look to years of court precedents for guidance. LLCs are a little simpler in structure, so they tend to be easier to operate. Thinking about an LLC? Northwest can help. Here’s information on starting an LLC in Oklahoma.
Do I Need a Tax ID Number (EIN) for a Oklahoma Corporation?
Yes, your Oklahoma corporation must get an EIN for federal tax filings. You’ll also need an EIN to use the state’s Oklahoma Taxpayer Access Point (OkTAP) for state taxes. You may need your EIN for other business paperwork as well, such as permit or bank account applications.
Who issues EINs? The IRS. You can get a free application from their website. Or, skip the extra IRS paperwork and hire us to get your EIN for you. It’s a simple as ticking the box that says “EIN service” during checkout when you sign up for our Oklahoma incorporation service.
Does an Oklahoma Corporation Need a Business License?
The state doesn’t have a general business license requirement. Various state departments, however, license a variety of specific business activities, from electrical repair to auctioneering.
Cities and counties have their own licensing requirements as well. For instance, Tulsa requires licenses for a handful of businesses, such as pawnbrokers and taxi services.
Oklahoma Certificate of Incorporation Requirements
Your name must include one of the following words: Association, Company, Corporation, Club, Foundation, Fund, Incorporated, Institute, Limited, Society, Syndicate, or Union. Or, use one of the following abbreviations: Co., Corp., Inc., or Ltd.
List either an individual Oklahoma resident (such as yourself) or a business (such as Northwest). Tip: Wouldn’t it be wild if we didn’t recommend Northwest at this point?
This Oklahoma street address is where your agent accepts legal notifications during regular business hours. This address, like all the information in your Certificate, will become part of the permanent record of your corporation. Tip: Not keen on giving up your privacy and availability? Hire Northwest and our Oklahoma office will be your registered office.
Yes, this email address will become part of the permanent public record as well. The state uses this email to send your Annual Franchise Tax notifications. Tip: At Northwest, we allow our clients to list our email address (and avoid an inbox full of spam).
Want your corporation to continue indefinitely? Skip this section. If you’d prefer to set a self-destruct timer on your business, enter how many years you want your corporation to exist. Tip: Most corporations skip this section.
What is your Oklahoma corporation going to do exactly? The answer to this question is your business purpose. You don’t have to agonize over how to summarize your activities in a few choice words—the state allows for a general purpose. You can simply say your purpose is “to engage in any lawful act or activity for which corporations may be organized under the general corporation law of Oklahoma.”
For each class or series of shares, list the number of shares you’re creating and their par value. Par value (also called “face value”) is the price listed on stock certificates and is typically the lowest value at which a share can be traded.
Your incorporator signs your Certificate of Incorporation. You must have at least one incorporator, but it doesn’t have to be a director, officer or anyone in your corporation (just someone you authorize to submit your Certificate). Incorporators must include their names and mailing addresses. Tip: We’ll be your incorporator when you hire Northwest to form your Oklahoma corporation.
List the names and mailing addresses of your Oklahoma corporation’s directors.