In Oklahoma, How To Start A Corporation

With our 5-step process, forming a company in Oklahoma is simple. A company may be formed by submitting formation paperwork with your state and forming a board of directors.

We’ll teach you how to form your own company in Oklahoma.

In Oklahoma, it is simple to form a corporation.

In Oklahoma, you may form a company by submitting the Certificate of Incorporation, drafting corporate bylaws, and naming your first director (s).

To get started, follow the steps in our How to Start a Corporation in Oklahoma tutorial below:

Step 1: Give Your Company a Name

Step 2: Select a Registered Agent.

Step 3 Hold an Organizational Meeting

Step 4: Submit your Certificate of Incorporation.

Step 5: Obtain an EIN

Step 1: Give Your Oklahoma Corporation a Name

The first step in forming a company is to choose a business name. You must choose a distinct name that conforms with Oklahoma company naming regulations.

1. Oklahoma naming conventions:

The following terms (or abbreviations) must appear in your name: association, company, corporation, club, foundation, fund, incorporated, institute, society, union, or syndicate. It may also include terms with the same meaning in another language.

Your name must be distinct from any other current company in the state. Oklahoma reserved names are included.

You must obtain permission to use the phrases savings and loan, building and loan, savings association, and savings bank.

2. Is my business name accessible in Oklahoma?

Your Oklahoma company name must be distinct and distinct from existing Oklahoma business names. To see whether your selected company name is available, use the Oklahoma Secretary of State’s Business Search Portal.

3. Is the URL accessible?

Before you register your Oklahoma company, check to see whether an appropriate URL for your selected business name is available. Even if you don’t intend to create a company website right immediately, we recommend purchasing a web domain right away to avoid other companies from obtaining it.

Step 2: Select a Registered Agent in Oklahoma.

When you file your company with the Secretary of State, you must choose an Oklahoma registered agent.

What exactly is a Registered Agent? A registered agent is a person or organisation chosen by an LLC or corporation to accept service of process, government communications, and compliance paperwork on behalf of a company.

Who Is Eligible to Be a Registered Agent? An person, a corporate organisation, or a professional registered agent service may serve as your registered agent. As long as the person:

is at least 18 years old

has a physical address in the state where business is done

is accessible during regular business hours (in person).

Step 3 Hold an Organizational Meeting

Before filing the Certificate of Incorporation formally in Step 4, you must conduct an organisational meeting to perform the following tasks:

Complete and sign the Certificate of Incorporation.

Establish and approve bylaws

Choose your first director (s)

Determine your ownership structure.

Fill out an Incorporator’s Statement.

Establish and Approve Corporate Bylaws

Bylaws are the rules that regulate and control how your organisation is governed and operated. Consider the bylaws to be your corporation’s constitution. It clarifies the norms and priorities for all parties involved.

The bylaws of a company will augment any regulations established by the federal government or the state.

Include the following in your bylaws:

The governance of the company, including the roles of directors and officials

Meeting processes, voting procedures, and the election of executives or directors

How will records be preserved and managed?

How will disagreements be resolved?

How will bylaws be added/modified in the future?

The annual shareholder meeting date

Contract Negotiation Techniques

Fiduciary responsibilities to the company (i.e. acting in the best interests of the corporation)

What is a quorum for voting purposes?

What exactly is a quorum? A quorum is the minimal number of members who must be present at a meeting in order for the meeting’s actions, including any votes, to be legitimate.

Appoint the First Directors

At least five directors must be appointed to monitor your Oklahoma business until the first shareholder meeting.

A corporate director is in charge of operational bylaw adoption, modification, and repeal, as well as the election, monitoring, and removal of officers.

Following the incorporation of the company, the incorporator(s) — or initial director(s), if listed on the formation papers — shall convene an organisational meeting. During this inaugural meeting, either the incorporator(s) or the initial director(s) will elect the board of directors.

Selecting a Share Structure and Strategy

A share of stock is a corporation’s unit of ownership. Each share of stock reflects a proportion of the company’s ownership. If a business issues one share of stock, the shareholder (stock owner) owns 100% of the corporation.

Shares may be divided into classes. Each class, known as a share class, has unique rights and advantages. There may be several classes, and each class can have an unlimited number of shares.

The Certificate of Incorporation in Oklahoma enables you to specify whether the company will issue more than one authorised share class or series. You must specify whether the shares are common or preferred. It should be noted that approving additional shares raises the filing charge.

Preferred stock does not offer its shareholders voting rights, although common stock does. Preferred shareholders are compensated before regular stockholders when it comes to corporate assets.

NOTE: We suggest that you begin with a large number of authorised shares. Many lawyers advocate for a million dollars. Starting with a large number allows you to issue shares as required without incurring legal expenses to enhance your original permitted share size.

Make and implement an Incorporator’s Statement

The incorporator(s) shall sign and preserve an Incorporator’s Statement with the full names and addresses of all initial directors in the corporate records book.

The first director(s) named in this agreement will serve until the board of directors is chosen at the first shareholder meeting. It should be kept with the rest of your company’s records.

Step 4: Submit your application for an Oklahoma Certificate of Incorporation.

To establish a company in Oklahoma, you must submit the Oklahoma Certificate of Incorporation. The Certificate of Incorporation is the formal document that establishes your Oklahoma company. You may submit it with the Oklahoma Secretary of State by mail, in person, or online.

There is a $50 minimum filing fee. The charge is 10 percent of the entire permitted capital (TAC). The filing cost is $50 if the TAC is $50,000 or less. If the TAC exceeds $50,000, the cost is $1 per $1,000.

This paper will address the fundamentals of your company, such as:

Statement of mission and corporate name

Name and street address of the corporate registered agent

The number of authorised shares that a company may issue.

The corporation’s lifespan

Name(s) and address of incorporator(s) (es)

Name(s) and address(es) of corporate directors (if incorporator powers terminate after the filing of the Certificate of Incorporation)

The Certificate of Incorporation in Oklahoma enables you to specify whether the company will issue more than one authorised share class or series. You must specify whether the shares are common or preferred. It should be noted that approving additional shares raises the filing charge.

Preferred stock does not offer its shareholders voting rights, although common stock does. Preferred shareholders are compensated before regular stockholders when it comes to corporate assets.

Step 5 Get an EIN for Your Oklahoma Corporation

What exactly is an EIN? The federal government uses an Employer Identification Number (EIN) or Federal Tax Identification Number (FTIN) to identify a company organisation. It is effectively the company’s social security number.

Why do I need an EIN? An EIN is necessary for the following activities:

To establish a commercial bank account for the firm

In terms of federal and state taxation

To recruit workers for the firm

How can I get an EIN? After founding the firm, the business owner obtains an EIN from the IRS (free of charge). This may be done online or in the mail.