Legal Question in Business Law in Oklahoma

I'm going to start and LLC, do I need a business license

Hello, I am purchasing a building that

currently has an exercise facility in part

of it. I will keep running the existing

business as is. My husband and I will

also develop the other section of the

building into a gallery and possibly an

art supply store. For the time being,

right now we will close on the purchase

in about a week. My huge question part

A: How can I start an LLC, is it simple

and necessary? Part B: Do I need a

business license for the state of OK? I

was told I don't need one for my town

of Mangum. Part C: Is there anything

else I should legally need to know? I am

going to purchase insurance as soon as

I take ownership of the building. I will

probably keep the existing policy. This

is all new to me, I have never owned a

business. I bought the NOLO book for

LLC hoping it would help. I still feel

overwhelmed. The person who owns it

now has no license and says she just

claims the business on her regular tax

forms. Please advise. I'd like to go

about this a smart way. The current

owner is failing and does not advertise.

I know I can turn this place around.

Thank you very much for your help.

Jennifer


Asked on 8/25/06, 11:20 pm

1 Answer from Attorneys
John Graves The Law Office of John H. Graves, PLLC

Re: I'm going to start and LLC, do I need a business license

An LLC or other entity protection is absolutely essential if you are going to run a gym. You really need to contact an attorney to review your sale documents, evauluate the title status of the property, draft a membership agreement, etc. It is possible that you don't need a business permit for the City of Mangum, but there may be other permits you need. If you will sell supplements and drinks do you have a sales tax permit? There are a myriad of things you will need to consider. There are several fine attorneys in your area, Altus or Lawton. I recommend that you contact one very soon.

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Answered on 8/26/06, 3:32 pm


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