1. Do a Business Plan

    The SBA (Small Business Administration) tells us that:
    A business plan precisely defines your business, identifies your goals and serves as your firm's resume. Its basic components include a current and pro forma balance sheet, an income statement and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make the right decisions.

    It provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan package. Additionally, it can tell your sales personnel, suppliers and others about your operations and goals.

  2. Create a name for your Business (Choose)
    A name can be researched for availability prior to registration with the Secretary of State by contacting the Business Filing Division at (405)-521-3912 or by performing a Name Availability Search online https://www.sos.ok.gov/corp/filing.aspx

  3. Register your business (LLC) with the Secretary of State at:

Agency

Secretary of State(SOS)

Address

2300 N Lincoln Blvd, Room 10.OKC, OK. 73105

Fee

Internet Application $104.00; In person Application $145.00 Same day service.

  1. Get your Federal Employee Identification Number (FEI) at: https://sa1.www4.irs.gov/modiein/individual/index.jsp and fill out form: SS-4; Cost:$0.00

  2. Note: If you won't have any employees skip step #6 and #7

  3. Need to register with the Employment Security Commission: (unemployment)

Agency

Employment Security Commission(ESC)

Address

PO Box 52003. Oklahoma City, OK. 73152

Fee

$0.00
  1. Need to register your business with the Oklahoma Tax Commission, you must create an A Withholding Tax account is required for any person who has employees and has a payroll.

Agency

Tax Commission(OTC)

Address

2501 North Lincoln Blvd. Oklahoma City, OK. 73194

Fee

$0.00
  1. If you are selling any products you need to get a Sales Tax Permit from the Oklahoma Tax Commission

Agency

Tax Commission (OTC)

Address

2501 North Lincoln Blvd. Oklahoma City, OK. 73194

Fee

$20.00

OTC (Oklahoma Tax Commission) Registration Packet: https://oktap.tax.ok.gov/OkTAP/Web/_/

Requirements that you must have

  1. If you have employees you must have a Worker's Comp Insurance.
  2. If you have employees you must learn the OSHA Regulations before hiring
  3. It is recommended that you get a Liability Insurance.
  4. It is recommended to get Business Interruption Insurance
  5. You need to get a business Bond.
  6. It is Federal and State law to pay Payroll Taxes on you and your employees (social security, State tax, federal tax, etc)
  7. If you are expecting customers to come in to your establishment you must be in compliance with the ADA (American with Disabilities Act).
  8. Your relationship with money.

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