PROPRIETORSHIPS
As the owner of a sole proprietorship, you will be personally liable for any debts or taxes of the business or other claims against the business.

PARTNERSHIPS
Partnership is similar to proprietorship except there are two or more owners. All partners are legally responsible for the debts, taxes, and other claims against the company.

A limited partnership is governed by the law in a different manner. A limited partnership must be registered with the Secretary of State, 405-521-3911.

CORPORATIONS
Corporation exists as a separate "Legal Person" apart from the people who manage and operate the business. If you are going to operate your business as a corporation, you must receive a certificate of incorporation from the Oklahoma Secretary of State's office 405-521-3391. That office will provide you with information and forms necessary for organizing an Oklahoma Corporation. Before a certificate can be issued they will search their records to make sure that there is no name duplication. Corporations are also required to file an initial franchise tax return within thirty (30) days of incorporation. No taxes are due between the time of incorporation until the following June 30^th. Each year thereafter you will pay a franchise tax as a tax for the privilege of operating as a corporation. The appropriate form for your business should be considered carefully. You may need to seek the advice of a certified public accountant and/or attorney in making this decision.

LIMITED LIABILITY COMPANY
Limited liability companies are treated like corporations for limited liability purposes but are treated as partnerships with the advantages of pass-through taxation for federal purposes.

CERTIFICATE OF FICTITIOUS NAME
If you are going to operate your business under a name that is other than the name of the corporation, limited liability company, partnership or sole-proprietor name, you are required by law to register that name with the County Clerk.

The certificate of fictitious name for a partnership must state the name in full of all the members of the partnership, their place of residence, and proof of publication that the certificate was published one day in a newspaper in the county. In addition, the certificate must be acknowledged before a notary, court clerk or judge. A new certificate must be filed with proof of publication any time the partners are changed.

You should complete the certificate and take it to a newspaper of general circulation in this county for publication. The Ponca City News is a newspaper qualified for publishing certificates in Kay County. The certificate must be published one time. The publisher of the newspaper will provide you with proof of publication at the County Clerk's office in Kay County. For further information contact the County Clerk at 580-362-2537.