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Oklahoma
Corporate Name Endings
- The name must
contain the word "Corporation," "Company," "Incorporated," "Limited,"
"Association," "Club," "Foundation," "Fund," "Institute," "Society,"
"Union," "Syndicate," or an abbreviation thereof. The name must be distinguishable
from the name of any other corporation, limited partnership, trade name,
fictitious name, reserved name, limited liability company, limited partnership,
or any limited liability company name filed with the Secretary of State.
Corporation Requirements
- Director Information
- Minimum Number - One or more.
- Residence Requirements - No provision.
- Age Requirements - None.
- Directors are
not required to be listed in the articles of incorporation.
- Officer Information
- Officers are
not required to be listed in the articles of incorporation.
- Stock Information
- An increase
in the shares may cause an increase in initial filing fees.
- Corporate Records
- Certain records
must be kept; however, there is no provision as to the location
of required records.
Taxes and Fees
- Annual Statements
- Domestic and
foreign corporations must file a Business Registration Report. The
cost of the report is $100, and is due by January 2nd of the filing
year.
- Income and Franchise Tax Rates
- The income tax rate is 6% of taxable income.
- The franchise
tax rate is .0125% of Oklahoma capital. The minimum tax is $10.
Foreign corporations are also required to pay a $100 registered
agent fee. The Oklahoma Minimum/Maximum Franchise Tax Return is
due by July 1st.
- S Corporation
- S Corporation
status is recognized by the State of Oklahoma. A separate state
election from the federal election is not required.
- License Requirements
- Oklahoma requires
you obtain a license and pay a fee if operating certain types of
businesses in the state. The following is a partial list:
- Accountants
- Ambulatory surgical centers
- Barbers and barber instructors
- Closing-out sales
- Electrical and elevator construction
- Contractors
- Fruit and vegetable sellers
- Hospitals insurance adjusters
- Pawnbrokers
- Plumbers and plumbing
- Contractors real estate brokers and sales associates
Please check with the state to make sure your business is complying
with the license requirements for your particular profession.
For more information on taxes, visit
http://www.oktax.state.ok.us/oktax.
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