Corporate Name Endings
* The name must contain “corporation”, “company”, “incorporated” or “limited”, “association”, “club”, “foundation”, “fund”, “institute”, “society”, “union”, “syndicate” or abbreviation thereof. The name must be distinguishable from the name or any other corporation, limited partnership, trade names or fictitious names filed with secretary of state, the reserved name of a corporation, limited liability company, or limited partnership, or any limited liability company name.
Articles of Incorporation Requirements
- Minimum Number – One or more.
- Residence Requirements. – No provision.
- Age Requirements – None.
- Directors are not required to be listed in the articles of incorporation.
- The officers are not required to be listed in the articles of incorporation.
- An increase in the shares may cause an increase in the initial filing fee.
- Domestic corporation must file biennial report . The cost of the report is $100 biennially. The report is due by January 2 of filing year and every two years thereafter, and is delinquent if not filed before February 1.
Income Tax Rate
- The tax rate is 6% of taxable income.
For more information on taxes, visit www.oktax.state.ok.us/oktax
- Shareholders have limited liability protection
- May be listed and traded as a publiccorporation on the stock market or “over the counter”
- Has a separate and independent tax status from its owners
- Profits are not subject to “double taxation”
- Corporate losses may be “passed through” to share holders
- Shareholders are afforded the same protection as C Corp.
- Contains characteristics of both corporation and partnership
- Shareholders may take advantage of “Pass-Through” taxation
- Limited liability for share holders
Not for profit corp
- Eligible for tax-exempt status
- Limited Liability protection
- Qualify for public and private gains