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Oklahoma is a state in the South Central region of the United States, bordered by the state of Texas, Kansas, Missouri, Arkansas, New Mexico and Colorado. Oklahoma is the 20th-most extensive and the 28th-most populous state of the United States.
With statehood came an oil boom, and much of the state's early growth came from oil exploration and drilling. Oklahoma was the fourth-largest crude oil producer among the states in 2019, and it accounted for nearly 5% of the nation's crude oil production.
The state's economy is still largely dependent on the oil and natural gas industry. In 2019, Oklahoma ranked second after Texas in total electricity net generation from wind and was third in wind's share of state generation after Iowa and Kansas. Wind supplied nearly 35% of Oklahoma's net generation, more than any other source.
Oklahoma has a fairly low population density that keeps with its ranking in terms of size and population numbers. In 2020, he census revealed that the population of Oklahoma was 3,954,820, which represented an increase of 8.7% on the figures released in 2000. The total surface area measures 69,898 square miles, there is an average of 54.7 people per square mile.
English is spoken throughout the state of Oklahoma.
The state government has three branches: the executive, legislative, and judicial, each of these branches has some authority to act on its own, some authority to regulate the other two branches, and has some of its own authority, in turn, regulated by the other branches.
The economy of Oklahoma is the 29th largest in the United States. Oklahoma's gross state product (GSP) is approximately $197.2 billion as of December 2018. Oklahoma remains something of an economic satellite of the industrial North and East, raw materials, furnishing food and fuels to them.
Oklahoma’s economy is not as balanced as those of many other U.S. states. There has in the past been overdependence on agriculture and petroleum, but the efforts of state and local officials to attract new forms of industry as well as tourism have shown some success.
United States Dollar (USD)
The corporate laws of Oklahoma are user-friendly and often adopted by other states as a standard for testing corporate laws. As a result, the corporate laws of Oklahoma are familiar to many lawyers both in the US and internationally. Oklahoma has a common law system.
One IBC supply incorporation in Oklahoma service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.
The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.
The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";
No public register of company officers.
Just 4 simple steps are given to start a business in Oklahoma:
* These documents required to incorporate a company in Oklahoma:
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How to start a business in Oklahoma
There is no minimum or a maximum number of authorized shares since Oklahoma incorporation fees are not based on the share structure.
Only one director required
Minimum number of shareholders is one
Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.
Financial statement
Oklahoma law requires that every business have Registered Agent in the State of Oklahoma who may be either an individual resident or business that is authorised to do business in the State of Oklahoma
Oklahoma, as the state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimised by providing credits against Oklahoma taxation for taxes paid in other states.
In the case of corporate taxpayers, double taxation is minimised through allocation and appointment rules related to the income of corporations engaged in multi-state business.
For corporations, limited partnerships and limited liability companies, who must file with the State, the filing fee is US$ 25, though corporations must also pay an additional county- specific fee. The corporation county fee is $100 for any county in Oklahoma City and US$ 25 for any other county in Oklahoma State. Filers with the State may also choose to pay an extra fee for expedited processing, which will be either US$ 25, US$ 75 or US$ 150 depending on the speed of processing chosen.
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Payment, Company return due date:
Fiscal-year returns are due the 15th day of the third month after the end of the tax year.