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Contact
Wendell L. Belknap
411 5th Street
Oregon City, OR 97045
Tel: 503-657-8946
Fax: 503-655-2775
Email Wendell
wendell@belknaplaw.com
Website:
www.belknaplaw.com
Forming a Limited
Liability Company (LLC)
A relatively recent alternative to incorporating the client’s business has been established by the laws of the State of Oregon. This alternative is the type of business known as a Limited Liability Company, or LLC for short. It can provide similar limitations of liability and tax savings as incorporating, though it may require extra tax forms to obtain these tax savings. Forming an LLC is something I encourage when the nature of the business involves real property ownership or the earning of passive income from the ownership of real estate.
As with incorporating, the analysis whether to form an LLC is more complex than the foregoing implies, but that which is set forth above is the beginning of the analysis. Ultimately, whether to form an LLC is both a legal and an accounting decision, and both of the client’s legal and tax professionals should be involved in the decision-making process.
Please feel free to contact me if you wish to discuss whether creating an LLC for your business is the right decision.