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Oregon Business Corporation. A corporation is a legal entity created under Oregon law by filing articles of incorporation with the Oregon Corporation Division. A corporation acts as a single entity. It exists separately from its owners. As a separate entity, the corporation must file its own tax returns.
Benefits of a Corporation The Oregon Business Corporation Act includes laws and regulations for corporations doing business in the state of Oregon. By forming a corporation, the owner's personal assets aren't at risk for legal or financial issues relating to the business.
Under Article 2.21 of the Texas Business Corporation Act (TBCA), for example, shareholders or affiliates cannot be held liable for a corporation's contractual obligations unless they caused the corporation to be used to perpetrate ?an actual fraud? primarily for the purpose of personal benefit?.