Business Entity Regulations
Business Entity Regulations
When starting a new business, it helps to have a strong understanding of the regulations established in the state where the business operates. There are many types of business entities that can be formed. Choosing the right business entity can reduce liability exposure, minimize taxes, and ensure that the business can be financed and run efficiently. Formalizing the business also clarifies the ownership stakes of those involved. One such entity is a corporation. The standard corporation, also called a C Corporation, is the most common corporate structure. Its profits are taxed both at the corporate and individual level and it must comply with the greatest number of formalities. In the state of Oklahoma, regulations for corporations exist in the Oklahoma Statutes. Title 18 of the Oklahoma Statutes, commonly known as the Oklahoma General Corporation Act (OGCA), applies to all corporations except those expressly excluded and those for which special......
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