Oregon PLLC Operating Statement
Description
How to fill out PLLC Operating Statement?
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FAQ
You should make sure you have an operating agreement for your PLLC. (Unlike most other states, Texas statutes refer to this document as a "company agreement.") Unlike professional licenses, articles of organization, naming restrictions, and service restrictions, this is not a state requirement.
How much does an LLC in Oregon cost per year? All Oregon LLCs need to pay $100 per year for the Oregon Annual Report fee. These state fees are paid to the Secretary of State. And this is the only state-required annual fee.
The state of Oregon does not require an LLC to have an operating agreement. Nonetheless, it is highly advisable that an LLC create this document because it can protect its members from being held personally liable if it is sued.
Oregon's requirements include: Registered agent. LLCs must list the name and address of a registered agent with a physical address (no post office boxes) in Oregon. The registered agent must be available during normal business hours to accept important legal and tax documents for the business.
Oregon does not allow professionals, such as accountants, attorneys and physicians, to form a professional limited liability companies (PLLCs).. After forming a limited liability company (LLC) , you must undertake certain steps on an ongoing basis to keep your business in compliance.
At this moment in time, a PLLC is not an option in California. The good news is that you have other options. In states that don't have PLLCs, sometimes licensed professionals can form standard LLCs instead. This guide will give you a better look at some PLLC alternatives in the state of California.
Below, we'll take you through each step required to start your LLC in Oregon. Name Your LLC. Before you can do anything else, you need to name your LLC. ... Designate a Registered Agent. ... Submit LLC Articles of Organization. ... Write an LLC Operating Agreement. ... Get an EIN. ... Open a Bank Account. ... Fund the LLC. ... File State Reports & Taxes.
Washington state doesn't legally require an LLC to adopt a written operating agreement. However, a written operating agreement is important for proving ownership and limited liability status.
Other states, such as Delaware and Oregon, don't recognize PLLCs. Instead, Delaware licensed professionals can form Registered Limited Liability Partnerships (RLLPs) or Professional Corporations (PCs). In Oregon, licensed professionals are allowed to form traditional LLCs and corporations.
Common pitfalls of a poorly drafted Operating Agreement include failing to: (i) specify what authority managers or members have; (ii) carve out key decisions that require a higher approval threshold (e.g., dissolution, sale of all or substantially all of the assets of the LLC, etc.); (iii) address how deadlocks in the ...