A series LLC in Oklahoma is a form of LLC that offers its owners and members unique liability and tax advantages. The series LLC is made up of a master LLC and one or more sub-series that branch out of it.
It is not difficult to establish your own Series LLC in Oklahoma. It’s easy with our step-by-step instructions!
An illustration of how a series L L C permits its members to split a “parent” L L C’s assets and activities into a number of “child” series.
You should know the answers to the following questions before naming your series LLC:
1. Series LLC name regulations differ per state. When name your series LLC in Oklahoma, you are just obliged to follow typical LLC naming regulations.
Follow the Oklahoma LLC Naming Regulations:
Consider the following suggestions for naming a series LLC:
3. Is the name of my company accessible in Oklahoma? Do a name search on the State of Oklahoma’s website to ensure that the name you choose isn’t already used.
Is my company’s name accessible as a URL? We propose that you investigate if your company’s name is accessible as a web domain. Even if you don’t intend to create a company website right away, you may wish to purchase the URL to prevent others from doing so.
You must name a Registered Agent for your Oklahoma series LLC. The parent LLC’s Registered Agent must be the same for each child series.
What exactly is a Registered Agent? A registered agent is a person or corporation that agrees to deliver and receive legal documents on your series LLC’s behalf. Service of process of legal action (if you are sued) and state filings are examples of such paperwork.
Who is eligible to be a Registered Agent? A registered agent must be an Oklahoma citizen or a company allowed to do business in Oklahoma. You may choose someone from your organization, even yourself.
You must submit the Articles of Organization with the State of Oklahoma to register your LLC. This may be done online or in the mail.
On the Articles of Organization form in Oklahoma, there is no area to mention that you are forming a series LLC. To properly specify your series LLC, your attorney may want to attach an amendment.
The filing fee for the Articles of Organization is $100.
When founding a series LLC in Oklahoma, an operating agreement is necessary. The operating agreement does not need to be submitted to the state.
What exactly is an operating agreement? An operating agreement is a legal document that outlines an LLC’s ownership and running processes.
Why are operating agreements necessary? The operating agreement for a series LLC is crucial since it sets the liability restrictions (asset protection) of the individual series. Without a defined framework, the courts may not sustain the series’ protection.
What exactly is an EIN? A corporate entity is identified by its Employer Identification Number (EIN) or Federal Tax Identification Number. Each of your series LLC’s offspring series will need an EIN.
Why do I need an EIN? An EIN is necessary for the following activities:
How can I get an EIN for my LLC series? The IRS does not have precise procedures for obtaining an EIN for a series LLC’s child series. For each additional EIN, experts recommend using the name of your series LLC combined with the name of the child series.
Where can I obtain an EIN? After forming the company, the business owner obtains an EIN from the IRS (free of charge). This can be done online or through the mail.