How to Set Up an Oklahoma S Corporation
An Oklahoma S corporation is set up in the same way as a regular C corporation, by filing formation documents with the Oklahoma secretary of state. S corporations in Oklahoma are required to file the appropriate form with the Internal Revenue Service. To set up an S corporation in Oklahoma, rules regarding size and ownership must be followed. For example, an S corporation in Oklahoma cannot be set up if the company has more than 100 shareholders.
Other People Are Reading
Instructions
-
-
1
Call the Oklahoma secretary of state's business filing division at 405-521-3912. This will allow you to research name availability before registering your Oklahoma S corporation. The name of the Oklahoma S corporation must be different from other business entities that are registered with the Oklahoma secretary of state. Avoid using language or phrases of an obscene nature, and do not use words that imply the company is affiliated with a bank or government agency. Using the same name as another business in Oklahoma will cause your formation documents to get rejected by the state.
-
2
Set up a board of directors. S corporations in Oklahoma are required to select at least one person to act as the company's director. There are no age or residency requirements imposed on directors of an Oklahoma S corporation. Directors of an Oklahoma S corporation may be shareholders and hold officer positions in the company.
-
-
3
Visit the Oklahoma secretary of state website to complete a certificate of incorporation online. Provide information about the business such as the number of shares the company can issue to potential investors, and the purpose for organizing the Oklahoma S corporation. Indicate the name and address of the company's registered agent that will accept legal documents served against the Oklahoma S corporation. List the name and address of each incorporator, which may be a person or business. Individuals named as incorporators of an Oklahoma S corporation must be at least 18 years old. Incorporators have governing authority over the Oklahoma S corporation until the company's first meeting. Indicate when the Oklahoma S corporation will dissolve, unless the company will have an unlimited life.
-
4
Submit the completed certificate of incorporation online using the Oklahoma secretary of state website. As of 2010, S corporations in Oklahoma must pay a minimum $50 filing fee, plus an additional $1 for every $1,000 of authorized capital. Payment for the Oklahoma secretary of state filing fee must be made by credit or debit card.
-
5
Compose bylaws. An Oklahoma S corporation's bylaws are an internal document that provides rules for running the business, which are enforced by the company's directors and officers. Oklahoma does not provide specific rules for an S corporation when it comes to creating bylaws, and the company is not required to file its bylaws with any state agency. Include information in the company's bylaws such as the date and time of shareholder meetings, as well as the fiscal year of the company.
-
6
Visit the Internal Revenue Service website. Print Form 2553 from the IRS website. Complete the form by providing information such as the nature of the company's business activities, the legal name and address of the Oklahoma S corporation, as well as the date when the business became incorporated. Every Oklahoma S corporation shareholder must sign Form 2553. Oklahoma S corporations are required to file Form 2553 with the IRS within 75 days of filing the company's certificate of incorporation with the Oklahoma secretary of state.
-
1
