A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, so you should read the relevant state statutes if you are interested in forming an LLC.

Owners of an LLC are called members. Most states do not restrict ownership, so members may include individuals, corporations, other LLCs and foreign entities. There is no maximum number of members. Most states also permit single-member LLCs—those having only one owner.

A few types of businesses generally cannot be LLCs, such as banks and insurance companies. Check your state’s requirements and the federal tax regulations for additional information. There are special rules for foreign LLCs.

In Oregon, a Limited Liability Company (LLC) is a popular business structure due to its flexibility and protection for its members against personal liabilities. Oregon state statutes allow for the formation of LLCs by filing the necessary documents with the Oregon Secretary of State, including the Articles of Organization. Oregon does not restrict the ownership of an LLC, so members can be individuals, corporations, other LLCs, and foreign entities. There is no limit to the number of members an LLC can have, and Oregon also allows for single-member LLCs. While most businesses can be structured as an LLC, certain entities like banks and insurance companies may be prohibited from forming an LLC in Oregon. It's important for anyone interested in forming an LLC in Oregon to review state-specific requirements and consult with an attorney to ensure compliance with all regulations, including federal tax laws. Additionally, foreign LLCs that wish to operate in Oregon must register and comply with state-specific rules that apply to them.