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Limited Liability Company (LLC) Questionnaire - Oregon
Limited Liability Company (LLC) Questionnaire is a legal document that was released by the Oregon Liquor and Cannabis Commission - a government authority operating within Oregon.
FAQ
Q: What is a Limited Liability Company (LLC)?
A: A Limited Liability Company (LLC) is a legal entity that provides limited liability protection to its owners.
Q: Why would someone choose to form an LLC?
A: People choose to form an LLC to protect their personal assets from business liabilities and to have flexibility in management and tax treatment.
Q: How do I form an LLC in Oregon?
A: To form an LLC in Oregon, you need to file the Articles of Organization with the Oregon Secretary of State and pay the required filing fee.
Q: What are the advantages of forming an LLC?
A: The advantages of forming an LLC include limited liability protection, flexibility in taxation, and ease of operation and management.
Q: What are the disadvantages of forming an LLC?
A: Some disadvantages of forming an LLC include additional paperwork and fees, potential self-employment taxes, and limited life.
Q: Do I need an attorney to form an LLC?
A: While not required, consulting with an attorney can be beneficial when forming an LLC to ensure compliance with all legal requirements.
Q: How are LLCs taxed in Oregon?
A: LLCs in Oregon can choose to be taxed as a corporation, a partnership, or a disregarded entity (for single-member LLCs) by filing the appropriate forms with the IRS.
Q: Can an LLC have multiple owners?
A: Yes, an LLC can have multiple owners, known as members. Members can include individuals, other LLCs, corporations, and even non-US residents.
Q: What is the difference between an LLC and a Corporation?
A: The main differences between an LLC and a Corporation include the level of liability protection, the management structure, and the taxation options available.
Q: Can an LLC be owned by a non-US resident?
A: Yes, an LLC can be owned by a non-US resident. There are no citizenship or residency requirements for owning an LLC in Oregon.
Form Details:
- Released on August 1, 2011;
- The latest edition currently provided by the Oregon Liquor and Cannabis Commission;
- Ready to use and print;
- Easy to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of the form by clicking the link below or browse more documents and templates provided by the Oregon Liquor and Cannabis Commission.
Download Limited Liability Company (LLC) Questionnaire - Oregon
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