How to Start an LLC in Oregon
Here are the 6 steps to start a limited liability company (LLC) in Oregon
For more information on how to form an LLC in any state, see the article How to Form an LLC.
Find out how to form a Oregon LLC for yourself
Learn about Oregon LLC formation, including information on Registered Agents, naming rules, business licenses, and more.
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Creating an LLC in Oregon
A limited liability company (LLC) offers many benefits to small businesses, including liability protection and tax advantages.
A Limited Liability Company LLC must be formed in Oregon by filing an Articles of Organization with the Oregon Secretary of State, which costs $100.
The Articles of Organization is the legal document that establishes your Oregon Limited Liability Company. However, you’ll first need to choose a name and registered agent for your Oregon LLC .
Approval of Oregon LLC mail filings takes 3-4 weeks in total. This includes the processing period of 5-7 business days as well as the time spent in the mail. Approval of online filings for Oregon LLCs takes 5-7 hours.
An LLC can be easily formed in Oregon. Our step-by-step guide on How to Start an LLC in Oregon will help you get started today. Find out more about LLCs and their benefits in our What is an LLC guide.
Step 1. Choose a Name for Your LLC Oregon
Creating an LLC in Oregon requires you to choose a business name before you can file a Articles of Organization. Be sure that your business name complies with the Oregon naming requirements and can be searched by potential customers.
- Oregon law requires an LLC name to contain the words “Limited Liability Company” or “Limited Company,” or the abbreviations “Ltd.,” “LLC,” or “LC.” “Limited” may be abbreviated as “Ltd.” or “LTD,” and “Company” as “Co.”
- It is not acceptable for your Oregon LLC to have words associated with a government agency (FBI, Treasury, State Department, etc.).
- You should avoid using words or abbreviations that may make your LLC Oregon appear to be a different type of entity, such as “LP” or “corporation”.
- There may be additional documentation and licensure paperwork required for certain restricted words (bank, lawyer, attorney, credit union, etc.).
- Check the state’s business name database to ensure the name you want is not already taken(including businesses no longer in operation)
See a complete list of Oregon’ naming rules here.
Check URL availability: You are likely to need a web page even if you don’t think you do. Buying your domain name now will at least give you the option of having one in the future. It’s a good idea to check the URL availability before finalizing your Oregon LLC name.
To reserve a company name, you must contact the Oregon Secretary of State’s Office to request a Business Name Reservation Form, which they will mail you.
LLCs do not usually require a DBA. You can use the LLC name as your company’s brand name and accept checks and other payments under that name. If you would like to use a different name for your business, you may wish to register a DBA. To learn more about DBA, read our “What is a DBA” Guide.
Step 2: Appoint Your Registered Agent in Oregon
Your next step in forming an LLC in Oregon is to appoint a Registered Agent, an individual or company authorized to receive legal and state mail on your behalf.
All Oregon LLCs must have a registered agent. Please include your registered agent’s name and address on your Articles of Organization.
Registered Agent Requirements in Oregon
To comply with Oregon law, your LLC’s registered agent must be a resident or business entity that maintains a physical address in Oregon. The “registered address” cannot be a P.O. box. It must be a real physical address that can be visited in person.
Further, in Oregon, your registered agent must agree to perform this role and sign a form confirming their consent. Consent statements should include the following:
- Written confirmation that the person designated consents to serve as the LLC’s registered agent
- The name of your Oregon LLC and the person designated as your registered agent
- Registered agent’s signature
- Date of execution
Although you do not have to submit this form to the Secretary of State, your business must record it. Learn more about Oregon Registered Agents by reading our full guide.
Any individual who is over the age of 18 and has a street address in Oregon may serve as its registered agent in Oregon. You may also choose to designate a member of your LLC or even a close friend if they fulfill these criteria.
Yes, to change your registered agent in Oregon, you must file a Change of Registered Agent/Address-Corporations/LLC form with the Oregon Secretary of State, Corporate Division. There is no cost to file the Oregon Change of Registered Agent/Address-Corporations/LLC.
Are You looking for a Registered Agent?
Wise Business Plans offers a free year of registered agent service when forming an LLC in Oregon.
Step 3.Prepare and File Articles of Organization
To create a Oregon LLC, you will need to file Articles of Organization with the Oregon Secretary of State. You may apply online, by mail, or in person.
The duration or time period over which an LLC will exist. LLCs are usually perpetual, meaning their duration is indefinite. LLCs can be dissolved voluntarily or involuntarily. You will specify the expiration date for your LLC if it exists for a purpose that ends at a specific date.
There is a $100 filing fee. You must send the original and a copy of your certificate if you file by mail.
Generally, mail filing approvals for Oregon LLCs take 3-4 weeks. There is a processing time of 5-7 business days, plus the time your documents are in the mail. Oregon LLCs can file online during the business day for approval in 5-7 hours.
If you choose our business formation services, we can handle this step for you.
The following information is typically required to create a Articles of Organization:
- Your LLC name and principal place of business.
- Name, address, and signature of the LLC’s registered agent
- Decide whether your Oregon LLC will be member-managed or manager-managed. Indicate the names and addresses of each member and manager.
- The reason for forming the LLC in Oregon.
- Name and address of the LLC’s organizer.
- The effective date of the certificate,
- The person forming the LLC must sign the Certificate.
Foreign LLCs: According to Oregon’s LLC Act, foreign companies operating in Oregon must register with the state if they conduct business there. LLCs that are based in another state but intend to conduct business in Oregon must complete a form called the Qualification of Foreign LLC.
A filing fee of $275 also applies to this form, and you need to attach your state’s certificate of good standing.
Two Ways to File the Articles of Organization
The 1st option is:
Online filing through the Oregon Department of State
The 2nd option is:
Filing the Articles of Organization by Mail
Address to Mail
There is a state filing fee of $100 payable to the OregonDepartment of State. (nonrefundable)
Secretary of State, Corporation Division
255 Capitol St. NE
Suite 151
Salem, OR 97310
Members (owners) are responsible for the LLC’s day-to-day operations in a member-managed LLC. Members choose or employ managers to run the company in a manager-managed LLC.
A domestic LLC is a company established as an LLC in Oregon. A foreign LLC is one with a physical presence in another state.
The filing of the Articles of Organization takes 24 hours online or roughly 3 to 5 days by mail.
Step 4. Get a Certificate From the State
Upon filing your Articles of Organization the secretary of state will review it. As soon as the Articles of Organization
is approved, the LLC becomes a legal entity.
If the LLC’s formation documents are filed and approved by the state, you will receive an acknowledgment letter. Download the stamped and approved Articles of Organization.
By obtaining this certificate, LLCs will be able to obtain an Employer Identification Number (EIN), licenses, and business accounts.
Step 5. Write an Oregon LLC Operating Agreement
An operating agreement is a legally-binding document that sets out how your LLC will operate, from the voting process to mergers.
Operating agreements are not required in Oregon, but they are an essential part of your business.
Written operating agreements are helpful for different reasons, including resolving disputes over financial agreements and other potential litigation.
The LLC declaration can prove that your LLC is a separate entity, which can help preserve your limited liability.
An operating agreement ensures that all business owners are on the same page and reduces the possibility of future conflict.
What should be included in an operating agreement?
The operating agreement should detail the LLC’s overall business purpose and other important matters, such as how the company will be taxed and how new members will be accepted. Legal agreements can clarify several important concerns, such as:
- Who makes decisions for the company, especially those who decide if partners disagree.
- Who is responsible for different aspects of the business as well as for strategic decisions.
- If a partner leaves the company, what will happen to their ownership interests in the corporation.
- The members and their contributions
- How profits and losses will be divided
- Procedures for admitting new members and removing outgoing members
In Oregon, you can include just about anything in your operating agreement, as long as it doesn’t violate the state law or the Articles of Organization
.
In Oregon, an LLC does not require to have an operating agreement, according to state law. Even so, it is recommended that one be created because it can shield members from personal responsibility if the company is sued.
Step 6. Get an EIN for Your Oregon LLC
Basically, an employer identification number (EIN) is a social security number for your LLC in Oregon.
Find out if any special permits or licenses are needed to operate your LLC in Oregon after registering with the IRS. In this state, general business licenses are not required, but you may need one if you are in a particular industry.
You may also need to apply for additional licensing on the local, state, and federal levels, so you will need to do some research to find out what you need.
To identify your LLC for tax purposes, the Internal Revenue Service assigns a nine-digit Employer Identification Number (EIN). You can apply for your EIN either by mail or online.
An EIN is used for the following purposes:
- Manage state and federal taxes
- Create a business bank account
- Hire employees
Get an EIN Number in Oregon
Getting an EIN number is easy and free, There are two ways to get an EIN number in Oregon.
The 1st option is:
Apply online for an EIN from the IRS
The 2nd option is:
Get an EIN by Mail or Fax
Address to Mail
Mail to:
Internal Revenue Service
Attn: EIN Operation
Cincinnati, OH 45999
LLCs must have an EIN, which is used to identify the company and its employees. In order to establish a business bank account, most banks demand an EIN. The tax identification number for the state of Oregon. There is no need for an Oregon state tax identification number.
Many multi-member LLCs will find the partnership tax status to be an excellent alternative as a straightforward and effective tax structure. However, if your firm wishes to raise capital from outside investors or other types of passive owners, you may wish to consider being taxed as a corporation.
If you are not qualified for a Social Security number, you can apply for an ITIN by filling out IRS Form W-7. Obtaining an ITIN might aid in the overall process of obtaining a business EIN because it allows you to complete the application for your business EIN using the online IRS form.
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What to do After Forming Your Oregon LLC
Keep your personal and business assets separate
Your personal assets (such as your home, car, and other valuables) may be at risk when your Oregon LLC is sued if they are mixed with your business accounts.
Here are some steps you can take to protect your LLC in Oregon:
1. Create a Business Plan:
If you decide that an Oregon LLC will be a good choice for your business in Oregon, your next step is to create a business plan (although it is not required), so that you have a roadmap for what you will do and how you will accomplish it.
Free: Business Plan Examples Pdf
Do you need help creating a business plan? Check out these six free, proven business plan examples from different industries to help you write your own.
2. Open a Bank Account
As soon as your LLC is officially formed, you should open a business bank account. Why? Keeping separate bank accounts will help you maintain the legal distinction between the LLC and you (the owner).
Because LLCs are limited liability companies, creditors and litigants can’t take your assets.
It is essential for small business owners to partner with the right bank. Find out which banks offer the best business checking accounts, have low or no fees, ATM accessibility, and interest-earning accounts as well as online or mobile banking tools.
Recommended: Check out our business bank account page to learn which banks offer the best business check accounts, ATM access, interest-bearing accounts, and online and mobile banking options for businesses.
3. Obtaining a business credit card:
- Allows you to separate personal and business expenses.
- Develops your company’s credit history, which can be helpful to raise capital (e.g., small business loans) later.
4. Hiring a business accountant:
- It prevents your business from overpaying taxes while preventing penalties, fines, and other costly tax mistakes.
- Gives you more time to focus on your growing business by simplifying bookkeeping and payroll.
- Manage your business’s funding more effectively. Find out where extra profit or loss can be made
Getting Business Insurance for Your LLC
You can manage risks and grow your LLC with business insurance. Here are the most common types:
- General liability insurance protects your business from lawsuits. Most small businesses purchase general liability coverage.
- Professional liability insurance protects professionals and businesses from claims of negligence from their clients or customers. Liability insurance typically covers negligence, copyright infringement, personal injury, and more.
- Workers’ compensation insurance: Covers illnesses, injuries, and deaths resulting from a worker’s work.
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Let us help you with your business insurance needs.
- General business liability insurance
- Medical insurance
- Term life insurance
- Workers’ Comp
- Surety bonds
- Commercial auto
Create Your Business Website
A website is an important step in legitimizing your business. It is essential for all businesses. You are missing out on a large percentage of potential customers and revenue if you don’t have a website, even if your business is too small or in an offline industry.
More than 90% of consumers begin their search for products and services online. If you don’t have a website that is ready to welcome your customers, then they will simply find your competitors.
Here are the main reasons why you shouldn’t delay building your website:
- Every respectable firm has a website. When it comes to getting your firm online, size or sector isn’t a concern.
- Creating a basic website has never been easier, thanks to website builder tools like the GoDaddy Website Builder. To design a website, you don’t need to hire a web designer or developer.
Recommended: If you want to enhance your conversion rates and maximize revenue in order to help expand your business and meet objectives, you should always hire a professional business website design company to build your business website.
Wise Business Plans is a leading web design company, We have created over 2000 + websites across 20 countries for our clients but we are physically based in 7 major cities in the United States including Alabama web design, Pennsylvania, Las Vegas, Colorado Springs, Iowa, Michigan and San Diego.
Oregon LLC FAQs
The Articles of Organization are filed with the Oregon Secretary of State for a $100 fee. Each year, domestic LLCs must submit an annual report to the Oregon Secretary of State. Domestic LLCs pay a $100 filing fee, while foreign LLCs must pay $275.
Yes, Keep your personal assets safe from your company’s risk. It’s simple to start, operate, regulate, and keep in line with the regulations. You may discover different tax advantages if you file your taxes quickly. Low cost to file ($100)
.
In order to dissolve an LLC in Oregon, you must submit the completed Articles of Amendment/Dissolution – Limited Liability Company form to the Oregon Secretary of State Corporation Division by mail, in person or by fax with a Fax Cover Sheet. A notarized signature is acceptable.
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