Incorporation in Oregon

Find the right Business Incorporation attorney in Bend, OR

Under Oregon law, a business may incorporate. If it chooses to do so, it is thereafter recognized as its own legal entity. This means that the business may buy or sell property, offer and accept contracts and exercise legal rights in its own name. The Oregon Secretary of State receives and processes applications for incorporation, which must be submitted in compliance with local guidelines.

Benefits of Incorporation in Oregon

There are distinct benefits to incorporating a business. Most importantly, liabilities the business accrues may be satisfied only by assets that the owners have specifically invested in it. If the business had remained a personal asset of the owners, they would run the risk of losing their personal property to pay for the company's financial liabilities in case of default. Furthermore, a business that has not incorporated puts the unnecessary burden on creditors in the Bend area to evaluate the credit worthiness of individual owners rather than that of the business, making loans more cumbersome. Lastly, a corporation's ownership stake is divided into equal slices or "shares" of stock, which make investments in the business much easier to transfer.

Costs of Incorporation

There are costs associated with incorporation, both short and long term. First, businesses in Oregon may be charged a fee to incorporate. Also, a corporation is taxed as its own entity. Disbursements to the owners of the corporation are also taxed as individual income, so this means earnings may be taxed twice. But this double taxation can be avoided with proper planning and help from a local Bend lawyer.

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Life in Bend

Bend if located in Deschutes County, Oregon. It is the largest city in central Oregon. Per the 2010 census, it has a population of 76,639 people. Nearby sites include the Cascade Range, Deschutes River, and the Ponderosa Pine Forest.

Bend is a great place to visit for those who love to mountain bike, fish, hike, camp, or go rock climbing. Basically it is a nature-lover's heaven. Popular attractions include the Vince Genna Stadium, the Central Oregon Indoor Sports Center, the Newberyy National Volcanic Monument, Tower Theatre, High Desert Museum, and Des Chutes Historical Museum.

Bend is also home to many attorneys. These attorneys have been trained by large firms or successful solo-practitioners. Either way, Bend attorneys focus on providing residents and local businesses with excellent legal services.

Overall, Bend is a peaceful place to live and a wonderful place to visit.

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