In Oregon, creating a Limited Liability Company (LLC) is a simple procedure. Understanding the timeframe required to set up an LLC is crucial, though. LLC registration requests are handled by the Secretary of State’s office in Oregon. Depending on the filing method, the processing time for an LLC formation application can change.
The processing period for an online LLC creation application can range from one to three business days. However, the processing period may take up to 2-3 weeks if you decide to file by mail. For an extra cost, expedited processing is also offered, which can cut the processing time to 1-2 business days.
An Annual Report must be sent to the Oregon Secretary of State’s office following LLC registration. The Annual Report must be filed annually and can be sent in by mail or online. The Annual Report must be filed for $100. A $200 penalty fee may be assessed for failing to submit the Annual Report on time.
You can serve as your own registered agent in Oregon. However, using a seasoned registered agent service is advised. Legal documents are delivered to a registered agent on behalf of the LLC. A reputable registered agent service can make sure that the LLC is in line with state laws and that all legal documents are received quickly.
Because it provides its members with limited liability protection, an LLC is a well-liked corporate structure. The lack of anonymity is one of an LLC’s drawbacks, though. The members’ names and addresses are open to the public. One choice is to create a Series LLC in order to conceal ownership of an LLC. Multiple series, each with its own assets and liabilities, may be included in a Series LLC. The fact that each series runs as a separate organization gives LLC members more privacy.
To sum up, creating an LLC in Oregon is a simple procedure. Depending on the filing method, the processing time for an LLC formation application can change. Each year, an Annual Report must be submitted, and a reputable registered agent service must be used. Making a Series LLC might give the LLC’s members additional confidentiality if privacy is an issue.