On this page · 10 sections
- What is an LLC in Oregon?
- Why Form an LLC as a First-Time Founder?
- Oregon LLC Formation Steps: A Detailed Breakdown
- Choosing Your LLC Name in Oregon
- Registered Agent Requirements in Oregon
- Filing the LLC Paperwork in Oregon
- The Importance of an LLC Operating Agreement
- Obtaining Federal and State Tax IDs
- Oregon Business Licenses and Permits
- Ongoing Compliance for Oregon LLCs
Understanding the Oregon LLC Structure
An LLC, or Limited Liability Company, is a popular business structure in Oregon that blends the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. For a first-time founder in Oregon, this means your personal assets—like your house, car, and savings—are generally protected from business debts and lawsuits. If your business incurs debt or faces legal action, creditors and claimants can typically only pursue the assets of the LLC itself, not your personal belongings. This separation is a cornerstone of the LLC's appeal. Oregon's Secretary of State is the primary agency responsible for LLC filings and maintaining business records. The state views an LLC as a distinct legal entity, separate from its owners, known as members. This separation is crucial for liability protection. Unlike a sole proprietorship or general partnership where the owner's personal assets are directly at risk, an LLC provides a shield. This structure is particularly beneficial for entrepreneurs venturing out on their own for the first time, as it mitigates some of the inherent risks of starting a new business. Oregon law, specifically the Oregon Business Corporation Act (though it primarily governs corporations, many LLC principles are guided by similar statutory frameworks and common law), outlines the requirements for forming and operating an LLC. The state requires a registered agent, a formal filing process, and adherence to certain ongoing obligations to maintain good standing. The flexibility of an LLC also extends to its management structure and profit distribution, allowing members to tailor the operating agreement to their specific needs. This adaptability makes it a versatile choice for a wide range of businesses, from tech startups to small retail shops. The pass-through taxation means that the LLC itself does not pay federal income tax. Instead, the profits and losses are 'passed through' to the members, who report them on their personal income tax returns. This avoids the 'double taxation' that can occur with C-corporations, where profits are taxed at the corporate level and again when distributed to shareholders as dividends. Oregon also has its own state income tax system, and LLC members will need to account for these obligations as well. Understanding these fundamental aspects of an Oregon LLC is the first step toward making an informed decision about your business structure. It's about building a solid foundation that protects your personal well-being while fostering business growth. The state's streamlined process, when compared to some other states, makes it an accessible option for many new entrepreneurs looking to establish a formal business entity.
The Advantages of an LLC for New Entrepreneurs
Starting a business as a first-time founder comes with a unique set of challenges and uncertainties. Choosing the right legal structure is a critical early decision that can significantly impact your business's future. For many new entrepreneurs in Oregon, the Limited Liability Company (LLC) emerges as the preferred choice due to its compelling combination of benefits. The most significant advantage is, as the name suggests, limited liability. This legal shield protects your personal assets—your home, savings, and other personal property—from being seized to satisfy business debts or legal judgments. Imagine a scenario where a customer slips and falls in your retail store, or a supplier sues for non-payment. Without an LLC, your personal finances could be on the line. With an LLC, the business is treated as a separate legal entity, and only the business's assets are at risk. This peace of mind is invaluable for first-time founders who are often investing their personal savings into their venture. Beyond liability protection, LLCs offer considerable flexibility in taxation. By default, LLCs are treated as 'pass-through' entities for tax purposes. This means the business itself doesn't pay income taxes. Instead, profits and losses are passed directly to the owners (members) and reported on their individual tax returns. This avoids the potential 'double taxation' faced by C-corporations, where profits are taxed at the corporate level and again when distributed to owners as dividends. Oregon follows this pass-through model, simplifying tax compliance for many small businesses. Founders can also elect to have their LLC taxed as an S-corp or C-corp if that proves more advantageous, offering further tax planning opportunities. Another key benefit is operational flexibility. LLCs are not burdened by the stringent corporate formalities required of C-corporations, such as mandatory annual board meetings, extensive record-keeping, and complex reporting structures. While an operating agreement is highly recommended to outline management and ownership, it's generally less rigid than corporate bylaws. This simplicity allows first-time founders to focus more on growing their business rather than getting bogged down in administrative tasks. The credibility an LLC lends to your business is also noteworthy. Operating as a formally recognized legal entity can enhance your business's image in the eyes of customers, suppliers, and potential investors. It signals a level of professionalism and commitment that can be crucial when building trust and securing partnerships or funding. In essence, an LLC provides a robust, flexible, and protective framework that is well-suited to the dynamic and often unpredictable journey of a first-time founder.
Oregon LLC Formation: A Step-by-Step Guide
Forming an LLC in Oregon involves a series of clear steps managed by the Oregon Secretary of State. As a first-time founder, following these steps meticulously ensures your business is legally established and compliant from the outset. The process begins with choosing a unique name for your LLC. This name must be distinguishable from existing business names registered in Oregon. You'll need to search the Oregon business registry to confirm availability. Once you've selected a name, the core step is filing the 'Articles of Organization' with the Secretary of State. This document officially creates your LLC. It requires specific information, including the LLC's name, its principal business address, the name and address of its registered agent, and the name and address of the organizer (the person filing the document). The filing fee for the Articles of Organization is currently $100. You can file this document online through the Oregon Secretary of State's website, by mail, or in person. Online filing is generally the fastest and most convenient method. After submitting the Articles of Organization, the Secretary of State will review them. If approved, your LLC is officially formed. However, the formation process doesn't end here. A crucial next step is to appoint a registered agent. This individual or company must have a physical street address in Oregon and be available during normal business hours to receive official legal and tax documents on behalf of your LLC. You can act as your own registered agent if you meet these requirements and are comfortable having your personal address publicly listed, or you can hire a commercial registered agent service. Many first-time founders opt for a commercial service for privacy and reliability. Next, it's highly recommended, though not legally required by the state for all LLCs, to create an Operating Agreement. This internal document outlines the ownership structure, member responsibilities, profit and loss distribution, and operational procedures of your LLC. While not filed with the state, it's vital for internal governance and preventing disputes among members. For single-member LLCs, it still serves as a crucial tool for maintaining the corporate veil. Finally, you'll need to obtain an Employer Identification Number (EIN) from the IRS if your LLC plans to hire employees or operate as a corporation for tax purposes. Even if not strictly required, an EIN is often necessary for opening a business bank account and is a key identifier for tax filings. This step-by-step approach, from naming your business to obtaining necessary IDs, provides a solid legal foundation for your new venture in Oregon. Each step is designed to establish your LLC clearly and ensure it operates in compliance with state regulations from day one, offering protection and legitimacy to your entrepreneurial efforts.
Selecting a Distinctive LLC Name in Oregon
Choosing the right name for your Oregon LLC is more than just branding; it's a legal requirement that ensures your business is identifiable and distinct within the state. Oregon law mandates that your LLC name must be distinguishable from any other business entity already registered with the Oregon Secretary of State. This means you can't choose a name that is identical or confusingly similar to an existing corporation, LLC, or other registered entity. The goal is to prevent public confusion about which business is which. To start this process, you'll need to conduct a thorough name availability search. The Oregon Secretary of State's website provides an online business registry search tool that allows you to check if your desired name is already in use. This search should cover not only exact matches but also variations that might cause confusion. Consider common misspellings, different word orderings, or the addition of generic terms like 'Company' or 'Group' if the core name is identical. It’s wise to have a few alternative names in mind before you begin the formal filing process, as your first choice might already be taken. Once you've confirmed your name is available, you must ensure it complies with Oregon's naming rules. All LLC names in Oregon must contain specific designators to indicate that it is a limited liability company. These include 'Limited Liability Company,' 'LLC,' or 'L.L.C.' You must include one of these at the end of your business name. Additionally, certain words are restricted or require special permission from state agencies. For example, words like 'Bank,' 'Trust,' 'Insurance,' 'Engineer,' or 'Architect' often indicate a regulated profession and may require specific licensing or approval before they can be included in an LLC name. It’s essential to review the Oregon Secretary of State's guidelines on restricted words to avoid delays or rejection of your filing. For first-time founders, this naming process can seem daunting, but it's a crucial step in establishing your business's legal identity. A strong, unique name not only meets legal requirements but also serves as a foundation for your brand. If you plan to operate your business in other states eventually, you might also want to consider reserving your name in those states or ensuring your chosen name is available as a trademark. While Oregon doesn't require a formal name reservation process before filing the Articles of Organization, confirming availability through the registry search is paramount. This diligence upfront can save you significant time and hassle later on, ensuring your chosen name is legally sound and ready for your new Oregon venture.
Oregon Registered Agent: Your Official Point of Contact
Every LLC formed in Oregon is required by law to designate and maintain a registered agent. This individual or entity serves as the official point of contact for receiving important legal documents, such as service of process (lawsuit notifications), official government correspondence, and tax notices on behalf of your LLC. The registered agent's physical street address in Oregon is listed on the public record, making them accessible during standard business hours. For a first-time founder, understanding the role and requirements of a registered agent is vital for maintaining compliance and ensuring you don't miss critical communications that could have serious legal or financial consequences. There are three primary options for fulfilling the registered agent requirement in Oregon: you can appoint yourself, another member of the LLC, or a trusted individual as the agent, or you can hire a commercial registered agent service. If you choose to act as your own agent, you must have a physical street address in Oregon (a P.O. Box is not acceptable) and be available to receive documents during normal business hours, typically 9 AM to 5 PM, Monday through Friday. This means you cannot be out of the office consistently or have a job that takes you away from your designated address. Using your home address as the registered agent address can be a concern for privacy, as this information becomes part of the public record. Alternatively, you can designate another individual within your LLC or a reliable friend or associate, provided they meet the physical address and availability requirements. The most common and often recommended option for first-time founders, especially those seeking privacy or a more professional setup, is to hire a commercial registered agent service. These companies specialize in this role, providing a reliable physical address and ensuring that any legal or official documents are promptly forwarded to you. They are experienced in handling service of process and understand the importance of timely notification. Lovie offers registered agent services as part of its comprehensive formation package, ensuring this crucial requirement is met reliably. Regardless of who you choose, the registered agent must have a physical street address within Oregon. The agent is responsible for forwarding any official mail received to your LLC in a timely manner. Failure to maintain a registered agent or ensure they are available can lead to serious consequences, including the administrative dissolution of your LLC by the state for falling out of good standing. Therefore, selecting a reliable agent and keeping their contact information updated with the Secretary of State is a non-negotiable aspect of operating your Oregon LLC.
Filing Your Oregon LLC: Articles of Organization
The cornerstone of establishing your Limited Liability Company in Oregon is the filing of the 'Articles of Organization.' This official document, submitted to the Oregon Secretary of State, legally creates your business entity. For a first-time founder, understanding what this document requires and how to submit it correctly is paramount to a smooth formation process. The Articles of Organization are relatively straightforward but require specific details. The primary pieces of information you'll need to provide are: the name of your LLC (which must comply with Oregon's naming rules and be available), the principal business address of the LLC, the name and address of your registered agent, and the name and address of the person filing the document (the organizer). The principal business address is where the main operations of your business are conducted. It cannot be a P.O. Box unless it is accompanied by a physical street address. The registered agent's details are crucial, as this is the designated contact for official correspondence. The organizer is simply the individual submitting the paperwork; this can be you, one of the LLC members, or even your legal counsel or formation service. The filing fee for the Articles of Organization in Oregon is $100, payable at the time of submission. Payment can typically be made via credit card for online filings, or check/money order for mail-in submissions. The Oregon Secretary of State offers several convenient filing methods. Online filing through their website is generally the quickest and most efficient way to submit your Articles. It provides immediate confirmation and allows for faster processing. Alternatively, you can download the form from the Secretary of State's website and submit it via mail or in person at their office in Salem. Mail-in filings will naturally take longer due to processing times. Once submitted, the Secretary of State's office will review your Articles of Organization. If everything is in order and the name is available, they will approve the filing, and your LLC will be officially formed. The processing time can vary; online filings are often processed within a few business days, while mail-in filings might take a week or more. It's important for first-time founders to be patient during this period. After approval, you will receive a confirmation, often an endorsed copy of your Articles of Organization, which serves as proof of your LLC's legal existence. This document is vital for opening business bank accounts, applying for licenses, and establishing your business's credibility. Ensure you keep this document, along with your Operating Agreement and EIN confirmation, in a safe place. Lovie assists entrepreneurs by preparing and submitting the Articles of Organization accurately and efficiently, helping to navigate this critical first step of formal business creation in Oregon.
The Crucial Role of an LLC Operating Agreement
While Oregon law does not mandate that LLCs file an Operating Agreement with the Secretary of State, it is an indispensable document for any LLC, especially for first-time founders. Think of it as the internal rulebook for your business. It outlines how the LLC will be owned, managed, and operated, providing clarity and preventing potential disputes among members down the line. An Operating Agreement is particularly important for multi-member LLCs, but even single-member LLCs benefit greatly from having one. For single-member LLCs, it reinforces the separation between the owner and the business, which is critical for maintaining the liability protection afforded by the LLC structure. Without a clear Operating Agreement, disputes can arise over profit distribution, management decisions, member responsibilities, and even dissolution procedures. Having this document in place provides a clear framework for resolving such issues. Key components typically included in an Oregon LLC Operating Agreement are: Member Information: Details about each member, including their name, address, and ownership percentage (the percentage of the LLC they own). Management Structure: Whether the LLC will be member-managed (all members participate in running the business) or manager-managed (members appoint one or more managers, who may or may not be members, to run the business). Contributions: How each member will contribute to the LLC, whether through capital (cash or property) or services. Profit and Loss Distribution: How profits and losses will be allocated among the members. This doesn't necessarily have to be in proportion to ownership percentage, offering flexibility. Voting Rights: How decisions will be made and what majority is required for various actions. Membership Changes: Procedures for admitting new members, or for members withdrawing, selling their interest, or passing their interest to heirs. Dissolution: The process for winding down the business if it ceases operations. The Operating Agreement should be drafted thoughtfully, reflecting the specific goals and circumstances of your business. While you can find templates online, it's often best to consult with a legal professional or utilize a service that can help tailor it to your needs. It's a living document that can be amended as your business evolves. For first-time founders, taking the time to create a comprehensive Operating Agreement demonstrates foresight and a commitment to good governance, setting a professional tone for your business from the start and safeguarding your entrepreneurial journey by clearly defining roles and expectations.
Securing Your EIN and Oregon Tax IDs
Once your Oregon LLC is officially formed by the filing of your Articles of Organization, the next crucial step is obtaining the necessary tax identification numbers. The most important of these is the Employer Identification Number (EIN), also known as the Federal Tax Identification Number, issued by the Internal Revenue Service (IRS). An EIN is essentially a Social Security number for your business. It is required if your LLC plans to hire employees, operates as a corporation for tax purposes, or files excise tax returns. Even if not strictly required by the IRS based on your business activities, most banks will require an EIN to open a business checking account, making it a practical necessity for most LLCs. Obtaining an EIN is a free process directly from the IRS website. You'll need to complete Form SS-4, Application for Employer Identification Number. The application is straightforward and can be submitted online, by fax, or by mail. Online applications are processed almost immediately, providing you with your EIN within minutes. This is the fastest and most recommended method for first-time founders. If applying by mail or fax, it can take several weeks to receive your EIN. Ensure you provide accurate information, as any discrepancies could delay the process. For an Oregon LLC, the EIN is essential for federal tax reporting and compliance. In addition to the federal EIN, you'll also need to consider Oregon state tax obligations. The Oregon Department of Revenue (ODR) is the agency responsible for state taxes. If your business will be selling taxable goods or services in Oregon, you will likely need to register for an account with the ODR to collect and remit sales tax. Oregon does not have a state sales tax, but it does have other business taxes, such as corporate income tax for C-corps and potentially other taxes depending on your industry. If your LLC has employees working in Oregon, you will also need to register with the Oregon Employment Department for payroll taxes, including unemployment insurance. This registration process typically involves obtaining a state account number for tax purposes. It's vital for first-time founders to understand these state-specific tax requirements early on. Failing to register or remit taxes correctly can lead to penalties and interest. The Oregon Secretary of State's website and the Oregon Department of Revenue's website are excellent resources for understanding these obligations. Lovie can assist with the EIN application process as part of its formation services, simplifying this critical step for new business owners and ensuring they have the foundational identification needed for tax compliance in Oregon and federally.
Navigating Oregon Business Licenses and Permits
Beyond the basic formation of your LLC, operating legally in Oregon requires obtaining the appropriate business licenses and permits. These requirements vary significantly depending on your industry, location (city and county), and the specific activities your business undertakes. For a first-time founder, understanding this landscape is crucial to avoid fines and operational disruptions. The primary licenses and permits fall into several categories: Federal Licenses and Permits: Depending on your industry, you might need federal licenses. Examples include alcohol, tobacco, and firearms (ATF) permits, broadcasting licenses from the FCC, or certain agricultural permits. Most small businesses won't need federal licenses unless they operate in highly regulated sectors. State Licenses and Permits: The State of Oregon issues various licenses and permits. The Oregon Business Development Department (Business Oregon) is a good starting point for information, and specific agencies regulate different professions and industries. For example, contractors need licensing through the Oregon Construction Contractors Board, healthcare professionals through their respective boards, and food service establishments often require health department permits. If your business sells goods or services subject to state taxes (even without a general sales tax, some specific taxes or fees might apply), you'll need to register with the Oregon Department of Revenue. Professional licenses are often the most complex, requiring specific education, exams, and ongoing continuing education. Local Licenses and Permits: In addition to state requirements, cities and counties in Oregon may have their own licensing and permit needs. Many cities require a general business license to operate within their limits. You might also need zoning permits, building permits for construction or renovations, health permits for businesses handling food, or special event permits. It's essential to check with the specific city hall or county clerk's office where your business will be located. Industry-Specific Requirements: Certain industries are heavily regulated. Restaurants need health permits and liquor licenses. Childcare providers need state licensing. Financial services may require specific registrations. Even online businesses might need permits depending on the services they offer and where their customers are located. For first-time founders, the best approach is to conduct thorough research early in the planning process. Start by identifying your industry and the specific activities your business will perform. Then, consult the Oregon Secretary of State's website, Business Oregon, the Oregon Department of Revenue, and your local city and county government websites. Many local governments have online business portals that can help you identify necessary permits. If you're unsure, contacting the relevant state or local agency directly is recommended. Failing to secure the correct licenses and permits can result in significant penalties, fines, and even the forced closure of your business, making this a critical compliance step for any new venture.
Maintaining Your Oregon LLC's Good Standing
Forming your LLC in Oregon is just the beginning; maintaining its good standing with the state requires ongoing attention to compliance. For first-time founders, understanding these requirements is key to preserving the liability protection and operational legitimacy of your business. The primary obligation is to keep your registered agent information current with the Oregon Secretary of State. If your registered agent resigns or their contact information changes, you must promptly update this information. Failure to maintain a registered agent can lead to your LLC being administratively dissolved. While Oregon does not require annual reports in the same way many other states do, it's crucial to remember that LLCs are subject to ongoing tax obligations. You must file federal and state tax returns annually, even if your business had no income or operated at a loss. This includes filing Form 1065 (U.S. Return of Partnership Income) and Schedule K-1 for each member if your LLC is taxed as a partnership, or Form 1120/1120S if taxed as a corporation. Oregon state tax returns must also be filed accordingly. If your LLC has employees, you must comply with all federal and state payroll tax requirements, including withholding, reporting, and remitting taxes to the IRS and the Oregon Employment Department. Staying current with these filings and payments is essential. Business licenses and permits also require ongoing compliance. Many state and local licenses need to be renewed periodically, often annually. Failure to renew these can result in fines or suspension of your business operations. Keep a calendar or use a compliance tracking tool to remind you of renewal deadlines. Another critical aspect is maintaining the separation between your personal and business finances. This means keeping meticulous records of all business income and expenses, using a separate business bank account, and avoiding commingling funds. This practice is vital for upholding the 'corporate veil' and ensuring your limited liability protection remains intact. While Oregon LLCs don't have a mandatory annual fee like some states (e.g., California's franchise tax), the $100 filing fee for the Articles of Organization is a one-time fee at formation. However, ensure you are aware of any potential local taxes or industry-specific fees that might apply. Regularly reviewing your business structure and operations to ensure continued compliance is a best practice. This includes updating your Operating Agreement if significant changes occur in your business structure or ownership. By diligently managing these ongoing requirements, first-time founders can ensure their Oregon LLC remains in good standing, protecting their business and personal assets for the long term.
Frequently asked questions
How long does it take to form an LLC in Oregon?
The timeframe for forming an LLC in Oregon can vary, but it's generally quite efficient. If you file your Articles of Organization online through the Oregon Secretary of State's website, processing is typically completed within a few business days. Mail-in filings may take longer, potentially one to two weeks, depending on the volume of submissions the office is handling. After the state approves your Articles of Organization, your LLC is officially formed. However, keep in mind that obtaining an EIN from the IRS can take minutes if done online, but longer if requested by mail. You'll also need to factor in time for establishing your registered agent service and drafting your Operating Agreement. For a complete setup, including securing necessary licenses and permits, it can take anywhere from a week to several weeks, depending on the complexity of your business and the responsiveness of various agencies.
Can I use my home address as the registered agent address in Oregon?
Yes, you can use your home address as the registered agent address for your Oregon LLC, provided you meet the requirements. You must have a physical street address in Oregon (a P.O. Box is not sufficient) and be available at that address during normal business hours (typically 9 AM to 5 PM, Monday through Friday) to receive official legal and government documents. However, using your home address means this information will become part of the public record, accessible to anyone who searches the Oregon business registry. Many first-time founders prefer to avoid this for privacy reasons and opt for a commercial registered agent service. This service provides a professional, reliable address and ensures timely forwarding of any documents received, while keeping your personal address private.
Does Oregon have an annual report requirement for LLCs?
No, Oregon does not require Limited Liability Companies (LLCs) to file an annual report with the Secretary of State. This is a key difference compared to many other states that mandate annual reports and associated fees. However, this does not mean there are no ongoing compliance obligations. You must still maintain a registered agent with a physical address in Oregon. Furthermore, you are required to file federal and state tax returns annually, even if your business has no activity or income. If your LLC has employees, you must also adhere to all state and federal payroll tax regulations. While there's no annual state filing fee for LLCs in Oregon, it's crucial for first-time founders to stay informed about other potential taxes, licenses, and permit renewals that may be required depending on their industry and location.
What is the difference between an LLC and a sole proprietorship in Oregon?
The primary difference between an LLC and a sole proprietorship in Oregon lies in liability protection and legal structure. A sole proprietorship is the default business structure for an individual operating a business without forming a separate legal entity. In this structure, there is no legal distinction between the owner and the business; therefore, the owner's personal assets are fully exposed to business debts and lawsuits. An LLC, on the other hand, is a formal legal entity separate from its owners (members). This separation provides limited liability protection, meaning the members' personal assets are generally protected from business liabilities. Forming an LLC requires filing official documents with the state, whereas a sole proprietorship requires no formal state filing to begin operations (though local licenses may still be needed). LLCs also offer more flexibility in taxation and management compared to the simpler, but more exposed, structure of a sole proprietorship.
Do I need an Operating Agreement for a single-member LLC in Oregon?
While Oregon law does not legally require a single-member LLC (SMLLC) to have an Operating Agreement, it is highly recommended for first-time founders. An Operating Agreement serves as an internal document that clearly defines the ownership, management, and operational procedures of your LLC. For an SMLLC, it reinforces the legal separation between the owner and the business entity. This is crucial for maintaining the 'corporate veil' and ensuring that your personal assets remain protected from business debts and liabilities. Without an Operating Agreement, the IRS or a court might view the SMLLC as merely an extension of the owner, potentially piercing the corporate veil and exposing personal assets. It also provides a roadmap for future actions, such as if you decide to bring on partners or sell the business, and helps establish credibility with banks and other institutions when opening a business account.
How do I get an EIN for my Oregon LLC?
Obtaining an Employer Identification Number (EIN) for your Oregon LLC is a straightforward process managed by the Internal Revenue Service (IRS). The most efficient method is to apply directly through the IRS website. You will need to complete Form SS-4, 'Application for Employer Identification Number.' The online application is free, and if you have all the necessary information ready, you can receive your EIN almost immediately, often within minutes. The required information typically includes the LLC's legal name, address, the name and Social Security number of a responsible party (usually the principal owner or officer), and details about the business structure and purpose. If you prefer, you can also apply by fax or mail, but these methods take significantly longer, potentially several weeks. It's important to use the official IRS website (irs.gov) to avoid third-party services that may charge a fee for this free government service. An EIN is essential for opening a business bank account and for tax purposes.
Lovie is not a government agency, law firm, or professional advisory organization. Lovie is a private business-formation service that prepares and submits filings to the appropriate state agencies on your behalf — we do not issue government documents, and state approval times are not controlled by Lovie. Information on this page is general and not legal, tax, or financial advice.