Law Insight – Oklahoma LLCs Are Open for Business

If you are wanting to start a new business, a limited liability company provides several advantages.

As the name suggests, limited liability companies (or LLCs) can provide business owners protection from the liabilities of the company.

Second, LLCs can also avoid the double taxation experienced by corporations.

One advantage of Oklahoma LLCs is the cost. The filing fee and annual fee is very small compared to other states. For example, in California and Massachusetts, the fees can run from several hundred to several thousand each year!

Another Oklahoma advantage is privacy. Several states require the LLC to file paperwork disclosing the officers and the investors of an LLC. This information then becomes a public record searchable on the Internet. In Oklahoma, the LLC must only provide the name of a Registered Agent – that’s it! This makes it easier for the officers and investors to maintain their privacy.

If you are interested in starting a new company, Oklahoma is open for business!

About the Author:

Reece B. Morrel, Jr. is a Lawyer, CPA and award-winning author. He is the founder of Morrel Law PLLC, a law firm in Tulsa, Oklahoma. He has personally been involved with several multi·million dollar engagements involving tax, estate planning, elder law, business law and accounting services. Mr. Morrel has consulted with clients and other professionals around the country. He is the author of the Lady Luck Gambling Diary: Slot Machine Edition.