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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.
Bylaws are a system of rules adopted by a corporation, organization or community to govern and regulate its members. Your business may have corporate bylaws for its internal affairs but must also follow government laws regarding taxes, permits and licenses.
A foreign Oregon Corporation is an INC originally formed in another state that registers to do business in Oregon. The process of registering a foreign Corporation in Oregon is called foreign qualification.
Corporations have more legal formalities than an LLC, like electing a board of directors, holding shareholder meetings, and maintaining internal records such as meeting minutes and stock issuance.
The Oregon Limited Liability Company Act allows companies to enjoy the taxation that partnerships do as well as the personal liability that corporations enjoy.
Corporate bylaws are legally required in Oregon. § 60.061, corporate bylaws shall be adopted by the incorporators or the corporation's board of directors. Bylaws are usually adopted by your corporation's directors at their first board meeting.
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.