Entrepreneurs in Oregon face new high filing fees
Entrepreneurs considering business formation in Oregon should be aware that certain Corporation Division fees increased as of February 27, 2010.Under voter-approved ballot measure 67, state taxes will increase by millions of dollars, raised both by taxes on the state’s high-income individuals and income taxes on businesses. Select corporation fees have increased to contribute up to $30 million to the General Fund for 2011-2013.
The funds generated for the state will be used to support public education, health, and safety – but it remains to be seen how the taxes will impact the health of state businesses.
Business name, registration, trademark and nonprofit corporation fees will remain fixed at $50. However, for those who do not run a 501(c)3 service, entity fees will likely increase.
Oregon for-profit businesses will see a doubled entity fee of $100. This includes domestic professional corporations, business corporations, limited liability companies and more.
Additionally, out-of-state for-profit business entity fees will increase from $50 to $275.
Those considering forming all business types in the state might be discouraged by these increased fees, however entrepreneurs – in Oregon and elsewhere – might be more encouraged to continue their entrepreneurial pursuits after they get a business filing quote from an inexpensive incorporation service online.