What Are Articles of Incorporation?
The articles of incorporation are the principal documents used to form a corporation under the laws of Oregon. Required to be filed with the Secretary of State no later than 30 days after forming your corporation, these documents become public records that are freely obtainable by anyone. Upon filing the articles with the Secretary of State (SOS), the corporation is legally created. Key considerations when drafting your articles include the appointment of a registered agent, who is tasked with receiving legal documents on behalf of the corporation. Ensuring these documents are tracked properly in a corporate records book is also essential.
Given the state’s recent amendments to the business corporation act, it is crucial for entrepreneurs to be conversant with these changes to ensure they meet regulatory compliance. For entities such as limited liability companies (LLC), the articles of organization—which serve a similar purpose to the articles of incorporation—authorize LLCs to operate within Oregon.
Filing Procedure and Business Name Reservation
The first step in the formation of any business is to decide on the structure, reserve a business name for 120 days, and proceed with registration. All businesses in Oregon must register a name, which can be accomplished through the Secretary of State website. The filing fee is $50.
Future Considerations and Fees
When preparing your articles of incorporation in 2023, it is important to consider aspects like service fees. Entrepreneurs should also explore different business structures and their tax implications. An LLC, for instance, can offer tax benefits compared to a corporation.
Articles of Organization and LLC Formation
Establishing an LLC in Oregon
To establish an LLC legally in the state of Oregon, prospective business owners must file the Articles of Organization. An LLC provides limited liability protection and pass-through taxation, which are appealing benefits to small businesses. The process of completing the Articles of Organization form is straightforward and can be done by mail, online, or in person, with various submission choices provided by the Oregon Secretary of State.
Steps for Filing
- Check if the business name you wish to use is available using the Oregon Business Name Search tool.
- Prepare your LLC Articles of Organization and submit them to the Oregon Secretary of State.
- Fill out the necessary information, including the company’s name, address, registered agent information, and more. An LLC’s management structure must also be detailed, highlighting the manager responsible for important business activities.
Filing can be completed through mail, fax, or online, with online submissions typically being processed faster. Lastly, include all necessary details such as the daytime phone number, type of request, and the name of the business manager.