I don't know the laws in Oregon, but keeping my small corporation legal in Massachusetts requires a number of forms to be filled out each year along with an annual fee (around $450.00). My airplane is NOT in my corporation and I never use corporate money to pay for airplane expenses.
Based on what I have been told by my attorney over the years, a small corporation that is designed to basically protect your financial assets will not actually protect you in a lawsuit. I believe that he used the term "thinly veiled corporation". I don't know if that is a legal term or something he is using to describe a small corporation. He said any competent attorney will show that you are merely trying to protect assets in the event of a significant at fault lawsuit.
My recommendation would be to talk with your personal attorney or an attorney that specializes in aviation matters. If you are an AOPA member, I know that they have something on their website regarding forming a corporation or LLC. If you are a member of their legal services program, you can get a consult with one of their attorneys for free.
Since Rick Durden is an aviation attorney, he may have some general recommendations for the members of this Club. I'm sure that you would have to engage him as your attorney for any specific legal advice.
