Your Oregon LLC EIN will be required for various business activities, such as opening a bank account, hiring employees, and filing taxes. Ensure you have it readily available whenever you need to provide it to a third party, such as a financial institution or government agency.
After getting an EIN, you can open a business bank account for your Oregon LLC. The bank will need your EIN Confirmation Letter (or EIN Verification Letter) to open the account.
With no state sales tax, building a business in Oregon offers abundant opportunities. An LLC offers liability protection and is a simple business entity that’s easy to start in Oregon.
When you start a limited liability company (LLC), in most situations you will need to obtain an Employer Identification Number (EIN). In Oregon, the process of obtaining an EIN is simple.
Naming Your LLC and Filing Fees
To start an Oregon LLC, you’ll need to file the Articles of Organization with the Oregon Secretary of State, which costs $100. You can apply online or by mail.
You will need to follow some guidelines when you want to name your LLC formed in the State of Oregon.
In this article, I’ll guide you through five easy steps that will help you start your own LLC in 2023. Oregon is home to a thriving business community, making it an ideal location for entrepreneurs looking to start their own company.
Understanding and Managing LLC Costs
The first step is to ensure that your Oregon LLC is eligible for an EIN. Typically, any LLC with employees or one taxed as a corporation needs an EIN.
Before we continue, we summarize the costs to give you an idea of the cost involved in setting up an LLC in Oregon. In Oregon, the filing fee to form an LLC is $100. This fee is paid to the Oregon Secretary of State when filing the LLC’s Articles of Organization.
The Oregon Secretary of State charges a $100 fee to file the Articles of Organization. Oregon LLCs are also required to file an annual report each year with the Secretary of State. The filing fee for domestic LLCs is $100 and the fee for foreign LLCs is $275.
Rather than thinking of ways to avoid these costs, our team’s advice is to seek services to help you maintain your good standing within the state in the long run. After all, operating a business is a continuous journey.
Now that we’ve covered all the required fees for setting up a private venture in Oregon, let’s take a look at some of the optional fees you may need to pay as your business grows. You might not need all of them, but understanding the ongoing maintenance costs can help you set your business in the right direction.
Do you need an EIN for your Oregon LLC? Yes, you need an EIN for your Oregon LLC. The EIN stands for "Employer Identification Number," and it’s basically like the social security number of your business. If you’re setting up an LLC, you’ll need this number in order to open a bank account, file taxes, and do other things that are necessary for running a business.
One primary cost to consider when maintaining an LLC in Oregon is the initial formation fee. Establishing an LLC requires the submission of a specific set of documents and official paperwork to the Oregon Secretary of State’s office.
Filing Deadlines and Procedures
Although the fee associated with forming an LLC may vary depending on certain factors, such as the type of service chosen or additional expedited processing requirements, these expenses range from a base fee to an additional charge per page for lengthy articles of organization.
Beyond the initial expenses, another key expenditure linked to an Oregon LLC is the business license fee.
In Oregon, you form an LLC by filing Oregon articles of organization, which requires a $100 fee. It’s a simple process you can do online by logging into your Secure Access System account provided by the Secretary of State.
If you need a certified copy of the Articles of Organization, there is a $10 fee. If you need a Certificate of Existence, there is a $10 fee.
If you’d like the state to hold your LLC name before you register, you can fill out this form here for $100 to reserve it for 120 days.
Completed paper forms and their accompanying fee should be sent to the address below.
Oregon Secretary of State Corporation Division
255 Capitol St. NE, Suite 151
Salem, OR 97310-1327.Ongoing LLC Maintenance
Other benefits of creating a new LLC in this state include greater flexibility with profit-sharing, an improved tax situation, and more managerial flexibility, which can be useful for certain types of companies.
How Much Does an LLC Cost in Oregon? The cost of starting an LLC in Oregon is $100 if you’re trying to register a domestic company as a new limited liability company. However, if you want to register a foreign business as an Oregon LLC, then you will need to pay $275 to do so.
It’s also important to note that Oregon does have annual fees for its LLC owners. Every year, you will need to submit an annual report, which provides details about how your business is functioning at the current time. It costs $100 to file this paperwork with the state.
Maintaining a limited liability company (LLC) in Oregon requires considering ongoing costs to ensure the financial stability and compliance of your LLC. Understanding these expenses will help you plan your LLC’s budget effectively.
Here are the primary ongoing fees for an Oregon LLC:
- Annual Report: LLCs in Oregon are required to file an annual report. The filing fee for the annual report is $100.
- Assumed Business Name Renewal: If your LLC has an assumed business name, you will need to renew it every two years with the Secretary of State. The renewal fee is $50.
- Registered Agent Fee: Oregon requires every LLC to have a registered agent. There is no ongoing fee associated with the registered agent role if you choose to fulfill the role yourself.
Acquiring an EIN for Your Oregon LLC
Multimember LLCs are required to use an EIN to file taxes, but sole proprietors and single-member LLCs are not and can use their Social Security numbers instead. However, many business owners prefer to use an EIN because EINs offer tax advantages and other benefits.
We recommend applying for an EIN online for your LLC if you have a Social Security number or ITIN. This is the easiest method with the fastest approval time. If you apply online but get an error message, you’ll need to mail or fax Form SS-4 to the IRS instead.
If you don’t have a Social Security number or ITIN, you can still get an EIN for your LLC by mailing or faxing Form SS-4 to the IRS.
We recommend getting an EIN even if you aren’t required to because having an EIN provides several benefits like protecting your corporate identity and keeping your Social Security number private. Most banks also require an EIN to open a business bank account.
You can apply for a free EIN with the IRS after forming your LLC. The EIN is used to identify the business for tax purposes and other activities like opening a bank account and hiring employees.