Are you considering starting a business in Oklahoma? If so, it’s important to know that the state will soon require all LLCs to have a ‘doing business as’ (DBA) name by 2023.
This means that if you want to operate under a name other than your legal business name, you’ll need to register for a DBA.
The new requirement stems from House Bill 1019, which was signed into law on May 26, 2021.
The bill amends the Oklahoma limited liability company Act and states that all LLCs must file for a DBA with the Secretary of State by January 1, 2023.
Before you can secure your DBA name for your Oklahoma LLC in 2023, you need to make sure you have your LLC set up properly. Here’s a quick guide on how to get a LLC in oklahoma to get you started.
Choosing the right name for your Oklahoma LLC is essential, and the process of getting a DBA name can be complicated. That’s why it’s crucial to work with reliable oklahoma LLC services like those offered by local businesses.
When looking to establish an LLC in Oklahoma, it’s important to consider selecting a unique and memorable dba name in oklahoma. This can help distinguish your business from competitors and attract potential customers to your brand.
Failure to comply with this new rule could result in penalties or even dissolution of your LLC.
So, if you’re planning on starting an LLC in Oklahoma or already have one established, it’s time to start thinking about your DBA name and getting it registered before the deadline.
Contents
Understanding The New Dba Requirement In Oklahoma
If you are planning to start a new LLC in Oklahoma or have already established one, it’s important to understand the state’s new DBA requirement.
Starting in 2023, all LLCs formed or registered in Oklahoma must have a Doing Business As (DBA) name. While this may sound like an additional hassle for business owners, there are good reasons behind this new requirement.
One of the primary reasons for DBA exemption is to ensure that businesses operating under multiple names can be easily identified and regulated. By requiring LLCs to register their DBA name with the state, it becomes easier to track and monitor business operations.
Additionally, having a DBA name can give businesses more flexibility when it comes to marketing and branding. It allows them to operate under different names without going through the process of creating separate legal entities.
However, existing LLCs should also take note of the impact of this new requirement on their current business structure and adjust accordingly before the deadline approaches.
Choosing A Dba Name For Your LLC
Now that you understand the new DBA requirement in Oklahoma, it’s time to start thinking about choosing a name for your LLC.
Brainstorming strategies can help you come up with a unique and memorable name that accurately represents your business. Consider using descriptive words or phrases that highlight the key products or services your company offers.
Once you have a list of potential names, it’s important to evaluate competitors in your industry to ensure that your chosen name isn’t too similar to theirs. This will help prevent confusion among customers and avoid any legal issues down the line.
Take the time to research existing businesses in your field and make note of their names, logos, and branding. By doing so, you can identify any potential conflicts and adjust your list accordingly.
Remember, choosing a strong DBA name is essential for building brand recognition and attracting customers, so take the process seriously and choose wisely.
Registering Your Dba With The Secretary Of State
When it comes to registering your DBA with the Secretary of State in Oklahoma, there are a few important things you need to keep in mind.
First and foremost, you will need to go through a filing process that involves submitting certain documents and paying a fee. While this process may seem daunting at first, it is actually quite simple and straightforward as long as you have all the required documentation.
To begin the filing process, you will need to fill out an Application for Registration of Trade or Business Name form, which can be obtained from the Oklahoma Secretary of State’s website.
This form will ask for basic information about your LLC and the name you wish to use for your DBA. You will also need to provide proof of ownership of the name, such as a trademark registration or a certificate of assumed name from your county clerk’s office.
Once you have completed the application and gathered all necessary documents, simply submit them along with the required fee and wait for approval from the Secretary of State.
In summary, registering your DBA in Oklahoma requires following a relatively simple filing process that involves submitting an application and providing proof of ownership for your chosen name.
By making sure you have all the required documentation in order before beginning this process, you can ensure that everything goes smoothly and quickly so that you can start using your new DBA with confidence.
Potential Penalties For Non-Compliance
After successfully registering your DBA with the Secretary of State, it may be tempting to sit back and relax. However, it is important to remember that non-compliance can result in serious consequences.
Fines and legal action are just a few of the potential penalties that can arise from failing to comply with state regulations. If you fail to renew your DBA registration on time or do not adhere to other requirements set forth by the state, you could face fines ranging from hundreds to thousands of dollars. In some cases, legal action may also be taken against you or your business.
It’s crucial that you stay informed about any updates or changes to state regulations regarding DBAs in order to avoid these penalties and maintain compliance with the law. Remember that registering your DBA is just the first step in ensuring your business’s success.
By staying up-to-date on regulations and following best practices for maintaining compliance, you can protect yourself from potential fines and legal issues down the road.
Ensuring Compliance And Avoiding Dissolution
As a DBA owner in Oklahoma, maintaining LLC status is critical to avoid dissolution. Failure to comply with the state’s requirements can result in penalties, fines, and even the loss of your business entity.
To ensure compliance, it’s essential to keep up with your annual report and franchise tax obligations. The Oklahoma Secretary of State requires all LLCs to file an annual report and pay a franchise tax fee by April 15th each year. Be sure to mark this deadline on your calendar and set reminders well in advance.
In addition to timely filing, it’s equally important to renew your DBA name registration as needed. The Oklahoma Secretary of State requires renewal every five years, so be sure to watch for any notices or expiration dates related to your DBA name registration.
Failure to renew could result in the loss of your right to use that name, which could damage your brand recognition and reputation with customers. By staying on top of these requirements, you can maintain compliance and peace of mind knowing that you’re protecting the longevity of your business entity.
Conclusion
So, there you have it – the new DBA requirement for Oklahoma LLCs is coming in 2023. It’s important to start preparing now to ensure compliance and avoid any potential penalties or even dissolution of your business.
By understanding the process of choosing and registering a DBA name, you can take proactive steps towards compliance.
And remember, if you ever have any questions or concerns, don’t hesitate to reach out to your attorney or the Secretary of State’s office for guidance.
With a little preparation and attention to detail, you can successfully navigate this new requirement and continue running your business smoothly.
Transform your business with LLCGrow, the go-to resource for LLC formation and management.