Small Business and Licensing Operating Requirements in Oklahoma
Oklahoma small business licensing and operation is easy if you follow the right procedure. Business registration is a process. There are four stages namely naming, structuring, employment and licensing.
Decide on the name and conduct a name search
Every business ought to have a name for registration. It is also important to have a name for your business. The name will help in customer recognition, online reviews, branding, and operational purposes.
A name can be related to the services you are offering. For example, a job agency can have a name such as Simply Hired. A name can be anything including and not limited to a combination of the director’s names, pet names, nicknames, names of places among others.
Once you have a name, conduct a search. You must check whether the name is available before registration. If the name is available, you can initiate the registration process.
Decide on the structure and register
At this point, you have a name, but you are unsure which structure suits your best. At this stage, you may require an Oklahoma attorney. You can register a sole proprietorship, partnership, limited liability or even a corporation.
A good lawyer should advise you on the best structure for an Oklahoma small business. Once you have settled on the structure, pay the requisite registration fee and fill the necessary documents.
Check for specific licenses and permits
Apart from business registration, there are other licensing requirements for every industry. Professional accreditation for accounting, engineering, construction, medical, counseling among others are required before starting a professional service company.
Some of the special licensing requirements include general sales permit for businesses that sell items and a special sales tax permits for some retail goods are necessary.
You may require an account of income tax too. Food handlers’ permit and liquor licenses are required to operate restaurants and bars.
You may need other non-licensing requirements to work smoothly. They include the Federal Employer Identification Number (EIN) with IRS, withholding tax account through the Oklahoma Tax Commission (OTC), and unemployment taxes account through the Oklahoma Employment Security Commission (OESC). All of this requirements are dependent on your operations and structure.
The process can be simultaneous. You can do name search while consulting on the best structure.