This is the last post in our series on starting an Oklahoma business with confidence.  The last blog talked about some of the advantages of setting up a business as an LLC entity.  In this post, we will discuss some of the main points that were covered throughout the entire series.

Starting a business is tough – we know because we have been in your shoes.  Starting with the company logo, website, business cards, office supplies, location, and a million other things, the necessities seem endless.  If you find yourself in a similar situation, we are here to help.  Niroula Law will assist you throughout the process as you navigate the entity selection, formation, and document execution stages.  Contact us online or via telephone to get in touch with an OKC business law firm and to talk to a business lawyer.

Throughout the series, we discussed these topics to help you navigate the process of starting a business in Oklahoma:

How to start a business in Oklahoma?
Know the cost of starting an Oklahoma LLC
Know whether Oklahoma requires a license for your business
Find out if you must renew your Oklahoma LLC every year
Vital difference between an Oklahoma LLC and a sole proprietorship
Vital difference between an Oklahoma LLC and a corporation
What are the advantages of an Oklahoma LLC?

We selected these topics for several reasons.  First, many seem to be confused as to what the first step is after deciding to pursue a new business.  This article simplifies the process by listing the essential steps such as: selecting a name, choosing an entity, purchasing a domain name, registering with the secretary of state, and a few others.

Second, the cost of starting an LLC is naturally a matter of utmost importance.  Many entrepreneurs and new business owners are in the dark on this topic.  This article breaks down some of the initial costs of starting an LLC such as web domain, website, operating agreement, CPA & accounting, licenses, and the initial capital contribution.

Third, in many cases, registering an LLC may not be sufficient.  Many businesses require local, state, or federal licenses and permits in order to operate.  This article gives a bird’s eye view of the many local and state license requirements for certain businesses.  For instance, Oklahoma does not require a general business license.  But, if your business involves selling beer, wine, or mixed drinks, then you must obtain a liquor license from the Alcohol Beverage Law Enforcement Commission (ABLE).

Fourth, LLC is not a set-it-and-forget-it entity.  After it becomes active, you must file an annual certificate and pay a fee every year.  The process is pretty easy.  You can file it online or through mail.  If you fail to file for 60 days past the anniversary date your business will cease to be in good standing.

Fifth, entity selection is one of the most important stages in starting a business.  It may have a significant bearing on the formalities, liability, management structure, and other business aspects.  But there seems to be a lot of confusion between the various business entities out there.  The following two posts are dedicated to explaining the differences between an LLC and a Sole Proprietorship, and an LLC and a Corporation.

Lastly, we discuss some of the main advantages of organizing your business as an LLC.  Although an LLC is a much newer concept than a corporation, it has been a popular choice.  Its popularity may be attributed to some of the advantages such as reduced liability, avoidance of double taxation, flexibility of management, and a perpetual existence.  This post aims to dive into some of the major advantages of setting up a business as an LLC.

OKC business lawyer: Oklahoma business law firm

Starting a new business is a huge undertaking. It can be taxing and mentally exhausting. If you are in a similar situation, we are here to help. We can assist you throughout the entire process of entity selection, entity formation, document execution and other necessary steps. Contact us online or by telephone to speak to a business law firm. Proudly serving Oklahoma County, Logan County, and Cleveland County.