With a favorable business climate and a strong economy, Oregon is a great place to start a new limited liability company (LLC). Fortunately, registering an LLC in Oregon only requires six steps which we’ve broken down for you in this guide.
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Oregon LLC Quick Facts
- To register an LLC in Oregon, you must file Articles of Organization.
- The filing fee for starting an LLC in Oregon is $100.
- In Oregon, LLC must submit an Annual Report to maintain good standing.
6 Steps to Forming an LLC in Oregon
Registering an LLC in Oregon is a straightforward process. Follow these six steps to form your LLC in Oregon.
Ready to start your Oregon LLC? Let’s dive in:
- Name Your Oregon LLC
- Appoint a Registered Agent
- Submit Your Articles of Organization
- Create an Operating Agreement
- Obtain an EIN and Handle Taxes
- File a Beneficial Ownership Information Report
Step 1: Name Your Oregon LLC
Forming an LLC starts with choosing a name for your business.
Oregon LLCs must follow a few basic naming rules:
- Must include “Limited Liability Company”, “LLC”, or “Limited Company”
- Be unique and distinguishable from any other business entity in the state
- Cannot include terms associated with other business structures such as “corporation”
- Cannot include terms that imply government affiliation
For the full list of naming requirements for Oregon LLCs, visit Oregon’s Secretary of State website.
To ensure your business name is unique, you will need to complete a business name search on the Oregon Corporation Division website.
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Step 2: Appoint a Registered Agent
In Oregon, you are required to designate a registered agent when registering an LLC. A registered agent is responsible for receiving important legal and tax documents on behalf of your company.
The registered agent must:
- Be a business or full-time resident of Oregon with a physical address
- Not be the LLC itself, but can be an LLC owner or employee
- Be present at the designated address during normal business hours
Who Is Eligible to be a Registered Agent in Oregon?
When registering an LLC in Oregon, it is important to designate a registered agent for service of process. A registered agent can be the LLC owner, an employee of the company, a friend, a family member, or a registered agent service hired specifically for this purpose.
Step 3: Submit Your Articles of Organization
To register an LLC in Oregon, the next step is to submit your Articles of Organization with the Oregon Secretary of State. You can complete this filing online or by submitting this form by mail.
The filing fee is $100.
Be sure to have the following details prepared for submission:
- The LLC name
- The registered agent’s name and address
- Management structure (member-managed vs. manager-managed)
- The LLC’s duration
- Names and addresses for all LLC members
- Contact information for the LLC organizer
Quick Note: If your LLC is registered in another state, you will need to register as a foreign LLC in Oregon. You do this by submitting an Application for Authority online or by mail along with a $275 filing fee.
Step 4: Create an Operating Agreement
Creating an operating agreement is an important step in the process of registering an LLC in Oregon. However, it isn’t required by the state.
This document outlines the internal procedures and ownership details of the company, ensuring that members are in alignment and helping to prevent future conflicts. While the operating agreement does not need to be filed with the state, it is crucial for your LLC to keep an updated agreement on file.
Step 5: Obtain an EIN and Handle Taxes
Acquiring an Employer Identification Number (EIN) is an essential step when registering your LLC in Oregon. This number is necessary for tax reporting purposes and allows the Internal Revenue Service (IRS) to track your business.
You can obtain your EIN for free through the IRS website.
In addition to receiving your EIN, it is important to manage your taxes properly as a business owner. Make sure to identify any additional tax requirements for your LLC by visiting the Oregon Department of Revenue website.
Step 6: File a Beneficial Ownership Information Report
LLCs are required to file a Beneficial Ownership Information (BOI) Report with the US Financial Crimes Enforcement Network (FinCEN).
New LLCs must file this report within 90 days of formation. Existing LLCs must complete the filing between January 1st, 2024, and January 1st, 2025.
Failing to do so will result in a $500 per day fine.
You can file online for free on the FinCEN website.
Next Steps
- Set up a business bank account to keep personal and business assets separate. We recommend Lili for easy, quick, reliable business banking services.
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- Apply for any required licenses and permits for your specific business activities through the Secretary of State website.
- Comply with annual reporting requirements by filing an Annual Report through the Oregon Business Registry Portal.
- Get business insurance to protect your LLC from liability. Get an online quote today from Next Insurance for fast, affordable coverage.
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Additional Tips for Success
- Build a strong network: Finding other entrepreneurs, mentors, advisors, and leaders in your industry can open new opportunities and provide support throughout your business’s lifecycle.
- Keep track of your compliance requirements: Oregon has specific reporting and fee requirements for LLCs that you need to follow to stay compliant with state regulations.
- Plan for the future: It’s important to map out the goals and ambitions of your company to ensure you’re hitting important milestones and setting your LLC up for success in the long term.
Conclusion
When registering an LLC in Oregon, it is important to follow the necessary steps to ensure a smooth process and set your business up for success. From selecting a unique business name to fulfilling reporting requirements, each step is crucial to the registration and maintenance of your Oregon LLC. By following these steps diligently, you can successfully register your LLC in Oregon and start your business on the right foot.