Are you preparing to launch a company in Oregon? Registering your business with the Oregon Secretary of State should be one of your initial steps. Although it is a simple process, registering a business in Oregon has a cost. In this post, we’ll talk about how much it costs to register a business in Oregon as well as other crucial details you should know.
Depending on the kind of business structure you select, Oregon’s business registration fees change. The following fees are in effect as of 2021:
– $100 for a domestic business corporation $275 for a foreign business corporation – $50 for a domestic nonprofit corporation – $275 for foreign nonprofit corporations – $100 for a Limited Liability Company (LLC) – $100 for a limited partnership (LP) – $100 for a Limited Liability Partnership (LLP).
You can pay an extra cost of $100 or $50 for same-day or 24-hour processing, respectively, if you want expedited processing. The filing fee can be paid online or by check. Renewal of an Oregon Business License
Once your company has been registered in Oregon, you must renew your business license every year. Depending on the kind of business structure you have, there are different renewal fees. The current renewal fees are as follows:
– $100 for a domestic business corporation $275 for a foreign business corporation – $50 for a domestic nonprofit corporation – $275 for foreign nonprofit corporations – LLC: $100
– LP: $100
– LLP: $100
What is the Oregon WCS?
Oregon’s Workers’ Compensation System (WCS) is a no-fault insurance program that offers benefits to employees who sustain injuries or illnesses as a result of their employment. The law requires you to have workers’ compensation insurance if your company employs people. Depending on your sector and the size of your company, different factors affect the price of workers’ compensation insurance. Either a private insurance provider or the State Accident Insurance Fund (SAIF) offer workers’ compensation insurance.
In conclusion, there is a cost associated with registering a business in Oregon, but it is a requirement to launch your company legally. Depending on the nature of your business, different fees apply to registering and renewing your business license. Additionally, if you employ people, you must carry workers’ compensation insurance in Oregon. When creating your business budget, it’s crucial to account for these expenses.