VII
Market Research by Region in Oregon ................................................................................................................................................. 22
Oregon SBDC Global Trade Center ....................................................................................................................................................... 22
Agricultural Products Marketing .......................................................................................................................................................... 22
STEP 3 – SELECT YOUR BUSINESS ORGANIZATION STRUCTURE & NAME ............................................................................ 23
How To Choose a Business Structure ......................................................................................................................................................... 23
Business Organization Structure Types ................................................................................................................................................ 24
Optional Provisions .............................................................................................................................................................................. 24
Benefit Companies ............................................................................................................................................................................... 25
Choose a Business Name ........................................................................................................................................................................... 25
What Names Are “Available”? ............................................................................................................................................................. 26
Check Internet Domain Name Availability ........................................................................................................................................... 26
What Are “Real and True” Names? ...................................................................................................................................................... 26
Assumed Business Names .................................................................................................................................................................... 26
Protecting and Defending Your Business Name ................................................................................................................................... 27
STEP 4 – REGISTER YOUR BUSINESS ................................................................................................................................... 28
BUSINESS REGISTRATION & RENEWAL ...................................................................................................................................................... 28
Sole Proprietor Registration ................................................................................................................................................................. 28
General Partnership Registration ......................................................................................................................................................... 28
Assumed Business Name Registration ................................................................................................................................................. 28
Limited Liability Company Registration ................................................................................................................................................ 28
Business Corporation Registration ....................................................................................................................................................... 29
Nonprofit Corporation Registration ..................................................................................................................................................... 29
Foreign Business Entity Registration .................................................................................................................................................... 29
Register a Trade or Service Mark ......................................................................................................................................................... 29
Report Beneficial Ownership Information (BOI) to FinCEN ........................................................................................................................ 29
What is reported? ............................................................................................................................................................................ 30
STEP 5 – UNDERSTANDING TAX OBLIGATIONS .................................................................................................................. 31
Apply for Federal Employer Identification Number (SS-4) ......................................................................................................................... 31
Sales Tax Information ................................................................................................................................................................................ 32
Income Tax Information ............................................................................................................................................................................ 32
Federal and State Income Taxes .......................................................................................................................................................... 32
Income Tax for Sole Proprietors ........................................................................................................................................................... 32
Income Tax for Partnerships ................................................................................................................................................................ 32
Income Tax for Limited Liability Companies ......................................................................................................................................... 32
Income & Excise Tax for Oregon Corporations ..................................................................................................................................... 33
Income & Excise Tax for S Corporations ............................................................................................................................................... 33
Estimated Income Tax Payments (Individual) ...................................................................................................................................... 33
Estimated Income Tax Payments (Corporations) ................................................................................................................................. 33
Personal Property Tax Report.................................................................................................................................................................... 34
Personal Property ................................................................................................................................................................................. 34
Other Business Taxes ................................................................................................................................................................................. 35
Federal Taxes ....................................................................................................................................................................................... 35
State Taxes ........................................................................................................................................................................................... 35
Additional State Taxes .......................................................................................................................................................................... 35
Local Taxes ........................................................................................................................................................................................... 36
Other Required Contributions .............................................................................................................................................................. 36
STEP 6 – CHECK LICENSES .................................................................................................................................................. 37
Check State & Local License Requirements ............................................................................................................................................... 37
License Requirements .......................................................................................................................................................................... 37
Construction and Landscape Contractor Licenses ..................................................................................................................................... 37
Who Should be Licensed with the Construction Contractors Board (CCB) .......................................................................................... 37
CCB Requirements ........................................................................................................................................................................... 38
Class of Independent Contractor ..................................................................................................................................................... 38
Employees or Independent Contractors? ........................................................................................................................................ 38
Applying for a CCB License .............................................................................................................................................................. 38
Regional Contractor’s Business License for Portland Metro cities ....................................................................................................... 39
Who Should be Licensed with the Landscape Contractors Board (LCB) ............................................................................................... 39
LCB Requirements ........................................................................................................................................................................... 40
Class of Independent Contractor (Employer Accounts) .................................................................................................................. 40
Employees or Independent Contractors? ........................................................................................................................................ 40
Completing the LCB Business Licensing Process .............................................................................................................................. 41