Annual Reports for Rhode Island Corporations & LLCs
For corporations, Annual Reports are to be filed annually between the first day of January and the first day of March, but in no event should they be submitted for filing more than sixty (60) days prior to the commencement of the filing period. Failure to file the report and filing fee may result in revocation of the Certificate of Incorporation or the Certificate of Authority. The state filing fee is $50. There is a penalty fee of $25 assessed for late filings.
For LLCs, Annual Reports are to be filed annually between the first day of September and the first day of November, but in no event should they be submitted for filing more than sixty (60) days prior to the commencement of the filing period. Failure to file the report and filing fee may result in revocation of the Certificate of Organization or the Certificate of Registration. The state filing fee is $50.
If you need help, we can file the annual report for you. Our fee is only $15. To order our service, please click on the following link:
TAX ID (Employment Identification Number - EIN) - FREE
Self-Service: Obtaining a Tax ID number doesn’t cost any money. You can apply by phone, fax or mail. You can also call toll free at (800) 829 4933 and get EIN instantly over the phone. If you apply by fax, it takes about 4-5 business days. If you apply by mail, it takes about 3-4 weeks. Please find information about Tax ID – EIN here.
Full Service: Do you need assistance with obtaining a tax ID? We can help prepare the form and obtain the tax ID for $45. Order here Tax ID.
S CORPORATION STATUS ELECTION
What is “S Corporation”?: An “S Corporation” is a corporation that elects to be taxed under Subchapter S of the Internal Revenue Code and receives IRS approval of its request for Subchapter S status. As a legal entity (an artificial person), the S corporation is separate and distinct from the corporation’s owners (the stockholders). Under Nevada incorporation law, there is no distinction between a C corporation and an S corporation. The incorporation process is the same. However, the two type of corporate entities are subject to differing federal and state tax treatment. Our cost is $45. Order S Corporation filing here.
We can help you submit the filing with FinCEN for your company. Companies formed in 2024 have 90 days to file initial reports after receiving official notification of their creation. Companies existing before 2024 have a deadline of January 1, 2025, for their initial reports. Those established after 2025 will have 30 days to file initial reports after registration.
Let IncParadise efficiently and affordably handle your BOI reporting with FinCEN, allowing you to focus on running your business and avoid costly compliance mistakes.
RHODE ISLAND CERTIFICATE OF GOOD STANDING
A certificate of good standing (certificate of existence) is a document issued by the Secretary of State certifying that your corporation does exist legally and that it is in good standing with the state. We can obtain one for you. The fee is $89 + state fee.
RHODE ISLAND APOSTILLE
In 1981, the United States joined the 1961 Hague Convention abolishing the Requirement of Legalization for Foreign Public Documents. The Convention provides for the authentication of public (including notarized) documents to be used in countries that have joined the convention. Apostille of Articles of Incorporation or other document is issued by the Secretary of State. Price is $89 + state fee.
RHODE ISLAND REINSTATEMENT OF CORPORATION/LLC
If your charter was revoked and you want reinstate the company, you have to pay all due fees and penalties and file appropriate annual reports.
Do you need somebody to handle reinstatement for you? Please contact us! We charge $89. We can find out how much money you owe for state fees.
RHODE ISLAND AMENDMENTS OF ARTICLES
There are times when a business needs to change the information included in the Articles of Incorporation or Articles of Organization. To do this, you need to file an amendment with the Rhode Island Secretary of State. Some reasons a business may need to file an amendment are to change the company’s name, to expand or alter the company’s business purpose, or to change the number of authorized shares or par value (for corporations only).
Do you need somebody to handle the filing of amendment for you? Please contact us! We charge $89 + state fees. Pay by PayPal (our email address is paypal@https://incparadise.net).
FOREIGN QUALIFICATION (all U.S. states)
Registration of foreign company qualifying to conduct business in other states: If your company expects to transact business outside your state of formation, your company may be required to qualify as a “foreign corporation” or “foreign LLC.” We can file the necessary paperwork to qualify your business as a foreign corporation or LLC in any of the 50 states.
Do you need somebody to handle foreign qualification for you? Please contact us!
Business licenses are mandatory for every business in the USA to operate legally. You may require federal, state, local licenses, permits, and tax regulations for your business.
Obtaining business licenses and permits is a daunting and time-consuming process as it entirely depends on the business industry, location, etc. IncParadise makes the business license process easy for you by delivering a report that lists the required federal, state, local licenses, permits, and tax regulations. Our expert research team searches, identifies and verifies the local, state, and federal licenses and permit requirements for your business type and location. They then send you the report with a list of these business license requirements so that you can save yourself time and effort.
We offer the best toll-free numbers on the market. Nationwide businesses, mid-sized and small businesses, and families can order toll-free 800 services and get a number that rings directly to your home or business. Redirect it to your fax machine or cell phone and back as you change locations. Track calls on the Internet in real time. Select an easily remembered vanity number for your business. You will get: custom routing, voice mail, inbound faxing, website account management, call recording, lead generation, vanity numbers, national toll-free database search and much more!
Rhode Island Incorporation Frequently Asked Questions
Do I need to reserve a corporate name?
No, but it is recommended to reserve a name prior to filing to ensure that it remains available during the incorporation process.
How do I reserve a corporate name?
The reservation of your corporate name will be handled by IncParadise and is included in the price of our service.
Do I have to renew my name registration?
No.
How do I incorporate in Rhode Island?
When using our service, IncParadise will file, on your behalf, the required administrative forms and articles of incorporation with the appropriate Rhode Island agency.
Is a registered agent required?
Yes. . The registered agent must have a business office identical to the registered office and must be either: (1) an individual residing in Rhode Island, or (2) a corporation with authority to transact business in the state. As part of our ongoing service, IncParadise does provide a registered agent service option that you can select during the online registration process.
How many Incorporators are required to form a corporation in Rhode Island?
One or more are required.
How many Directors are required to start a corporation in Rhode Island?
One or more as defined in the by-laws and stated in the articles of incorporation.
Are corporations in Rhode Island required to file an Annual Report?
Yes. A report must be filed between January 1 and March 1 of each year, except for the year of incorporation.
Rhode Island is ranked the 12th Healthiest State in the nation. (Morgan Quitno, 2005)
In a March 2004 study, the Milken Institute said Rhode Island was among the states best positioned to succeed in the information age, ranking the state 11th in the U.S.
Rhode Island, smallest of the 50 states, is densely populated and highly industrialized.
Cost of living
For Providence, RI (2005)
Index Score
Composite:
125.4
Housing:
157.3
Utilities:
121.8
Misc. Goods & Services:
113.1
Crime Rate
Rhode Island has the 16th lowest overall crime ranking in the U.S. (FBI, 2004)
Fees & Taxes
Business Inventory Tax Exempt.
Corporate Income Tax Rhode Island’s corporate tax structure consists of a flat rate of 9% on all corporate income.
Personal Income Tax Rhode Island’s personal income tax system consists of a tax of 25% on the taxpayer�s federal liability.
Personal Property Tax Rhode Island is one of the 38 states that collect property taxes at both the state and local levels. Sales or transfers of intangible personal property such as stocks, bonds, accounts receivable, money or insurance policies are exempt from property tax.
State Sales and Use Tax Base Rate: 7.0%
Machinery Rate: none
There is an exemption for tools, dies, molds, machinery and equipment to the extent used in an industrial converting, or processing tangible personal property or computer software for sale.
Unemployment Insurance Rhode Island’s new employers’ rate is 1.79% for 3 years.
Rhode Island LLC and Corporation Registration and Formation
You can form a corporation in Rhode Island or you can opt for a Limited Liability Company or any other business entity like a Benefit Corporation, Limited Partnership (LP), Limited Liability Partnership (LLP), L3C Limited Liability Company, Professional Service Corporation, and a Cooperative. The state has the right infrastructure and incentive programs to assist start-ups as well as existing businesses in achieving greater ROI in the long run. Some of the top businesses that have headquarters in Rhode Island include CVS Health, Citizens Bank, Nortek, Hasbro, FM Global, Amica Mutual Insurance, LIN Television Corporation, The Providence Journal, and Twin River Casino among others.
We are one of the top Rhode Island registered agents and can assist you with the successful registration of your business entity in the state.
Let’s take a look at how you can form a Rhode Island business LLC or Corporation.
Rhode Island LLC Registration and Formation
LLC company formation in Rhode Island is governed by 2013 Rhode Island General Laws, Title 7 – Corporations, Associations and Partnerships, Chapter 7-16 – The Rhode Island Limited Liability Company Act. The procedure for registration and formation of LLCs is as follows:
Step#1: Maintain a registered agent
If you are planning to form a Limited Liability Company in Rhode Island then you will be required to continuously maintain a registered agent in the state pursuant to RI Gen L § 7-16-11 (2013). This law is applicable for domestic limited liability companies as well as foreign limited liability companies.
We would take this opportunity to share with you the fact that we are one of the top registered agents in the state and have been responsible for over 11,494 businesses set up in Rhode Island. We can assist you to form a Rhode Island business LLC.
Step#2: LLC Name Reservation
One of the foremost steps towards company formation in Rhode Island is identifying a name for your business entity. The process is as follows:
Identify a name for your business entity
According to RI Gen L § 7-16-9 (2013), the name should contain the phrase or words “limited liability company” or the abbreviations “L.L.C.”, or “LLC”.
The chosen name should be distinguishable and should not be deceptively similar to the name of any limited partnership, corporation, or limited liability company
Apply for reservation of name pursuant to the provisions of RI Gen L § 7-16-10 (2013) (limited liability companies)
Submit the form through mail or online with the Office of the Secretary of State, Corporations Division along with the applicable fee. An LLC can reserve its name for a period of 120 days.
Step#3: Articles of Organization and Application for Registration
If you are planning to form a Rhode Island business LLC then the most important step is to prepare and file the proper documents for a Limited Liability Company. The steps are:
If you want to register a domestic LLC then you will be required to file “Articles of Organization” governed by RI Gen L § 7-16-6 (2013).
If your business entity is a foreign LLC then you will be required to file “Application for Registration” pursuant to RI Gen L § 7-16-49 (2013).
The application or documentation for registration of LLC can be filed with the Department of State – Business Services Division, in person or online.
We can file the form on your behalf as your registered agent in the state and provide you with certified copies of the LLC registration.
In case, you have any questions regarding how to form a Rhode Island business, feel free to call us on 702-871-8678.
Rhode Island Corporation Registration and Formation
If you are planning to form a Corporation in Rhode Island then it will be governed by 2005 Rhode Island Code – CHAPTER 7-1.2 — Rhode Island Business Corporation Act. The procedure for registration and formation of a business corporation is as follows:
Step#1: Maintain a Registered Agent
If you are planning to form a business or professional corporation in Rhode Island then you will be required to continuously maintain a registered agent in the state pursuant to 2005 Rhode Island Code – § 7-1.2-501. This law is applicable for domestic as well as foreign corporations.
We would take this opportunity to share with you the fact that we are one of the top registered agents in the state and have been responsible for over 11,494 businesses set up in Rhode Island. We can assist you to form a Rhode Island business as we are in compliance with all regulations in the State of Rhode Island.
Step#2: Corporate Name Reservation
In order to form a corporation in Rhode Island, one of the key steps is identifying a name for your business entity. What is the process? The process is as follows:
Identify a name for your business entity
According to 2005 Rhode Island Code – § 7-1.2-401, a corporate name should contain the phrase or words “corporation”, “company”, “incorporated”, or the abbreviations “Corp.”, or “Inc.”
The chosen name should be distinguishable and should not be deceptively similar to the name of any limited liability company, limited partnership, or corporation
Apply for reservation of name pursuant to 2005 Rhode Island Code – § 7-1.2-403.
Submit the form through mail or online with the Office of the Secretary of State, Corporations Division along with the applicable fee. A business corporation can reserve its name for a period of 120 days.
Step#3: Articles of Incorporation and Certificate of Authority
If you are planning to form a corporation in Rhode Island, then the most important step is to prepare and file the proper documents for a business corporation. The steps are:
If you want to register a domestic corporation then you will be required to file “Articles of Incorporation” pursuant to RI Gen Laws § 7-1.2-202 (2005).
If your business entity is a foreign corporation then you will be required to file a ” Certificate of Authority” to transact business in the state pursuant to RI Gen Laws § 7-1.2-1405 (2005).
The application or documentation for registration of a corporation can be filed with the Department of State – Business Services Division, in person or online.
We can file the form on your behalf as your registered agent in the state and provide you with certified copies of the incorporation.
If you have any questions regarding Rhode Island incorporation or LLC formation, you can simply visit the Rhode Island Business formation page.
A report by Forbes ranks Rhode Island #43 in their list of “Best States for Business” and has a Gross State Product of $63 billion. Forbes ranks its economic climate at 36 and is ranked #32 in the 2016 Economic Index. The good news for those who want to set up companies in Rhode Island is that the state has made a few significant changes in the business tax law in order to improve its business and tax climate. One of the reasons for such a change is that the corporate income tax rate has decreased from 9% in 2014 to 7% in 2015. Apart from this, several business incentives have also been implemented to aid in the overall growth and support for small and medium enterprises.
Why Choose Rhode Island for Incorporation?
There was a time when manufacturing was one of the key economic drivers but today the economic health of Rhode Island is driven by multiple industries including manufacturing, financial services, fishing, hospitality, and agriculture. These are the industries who are mostly incorporating in Rhode Island. The annual growth rate have jumped from 0.2% in 2016 to 3.5% in 2017, the latter being faster than the overall growth rate of the nation at 3.4%.
Now let’s take a look at some of the salient benefits that are responsible for fuelling growth of small businesses in this state:
Qualified Jobs Incentives Tax Credit: If you set up a company in Rhode Island and expand your workforce then you would be eligible to receive annual, redeemable tax credits for a period of 10 years as a part of the Qualified Jobs Incentive program. You can earn credits amounting to $7,500 per job per year. Download Application
Industry Cluster Grants: Industry Cluster Grants is a program that encourages small and medium business entities to work together for the purpose of exchanging ideas, solving problems, and developing talent. The program makes available grants required for fund planning and organization of a cluster. As part of the program, “implementation grants” are also available for strengthening the cluster in specific areas like tech transfer, R&D, and workforce development. Implementation Grant Application Materials
How do you incorporate in Rhode Island?
What is the process through which you can set up company in Rhode Island? What type of documentation is required? Can the registration documents be filed online? If you are confronted with these questions then the following steps will help you in understanding how incorporation works in Rhode Island:
Type of Business
The first step towards incorporation in Rhode Island is choosing the type of business you want to form. You can choose to form an LLC or a Corporation. The type of business entity you want to form can be either domestic or foreign. The forms and fees will be different for each type of entity. Know more
Business Entity Name
The second most important step towards company incorporation in Rhode Island is registering your business entity name. There are 3 steps towards business name formation and they are:
Naming Requirements: A corporation under 2005 Rhode Island Code – § 7-1.2-401 and an LLC under RI Gen L § 7-16-9 (2013) should contain words like “corporation”, “incorporated”, “limited liability company” or abbreviations like “corp.”, “inc.”, “ltd.”, “L.L.C.” or similar abbreviation.
Business name search: You need to search for a business name that is not in use currently. You can conduct name search here.
Name Reservation: Once you have identified business entity name, and if the name is available then you can reserve the name pursuant to 2005 Rhode Island Code – § 7-1.2-403 for business corporations and RI Gen L § 7-16-10 (2013) for LLC’s. You can reserve the name with the secretary of state for a non-renewable period of 120 days.
A foreign business entity will have to register their business name pursuant to 2005 Rhode Island Code – § 7-1.2-404.
Choose a Registered Agent
Whether you form a corporation or an LLC business entity, in order to transact business in the state of Rhode Island, you will have to maintain a registered agent pursuant to RI Gen L § 7-16-11 (2013) for LLC and 2005 Rhode Island Code – § 7-1.2-501 for Business Corporations.
We are one of the respected registered agents in Rhode Island and will be responsible for initiating incorporation in Rhode Island through processing of your “Articles of Organization”, and “Articles of Incorporation” for domestic entities and “Application for Registration” and “Certificate of Authority” for foreign business entities.
Articles of Incorporation and Certificate of Authority
You will be required to file “Articles of Incorporation” pursuant to pursuant to RI Gen Laws § 7-1.2-202 (2005), if your business is a domestic corporation. You will have to file a “Certificate of Authority” pursuant to RI Gen Laws § 7-1.2-1405 (2005), if it is a foreign business entity. In order to streamline the process of incorporation in Rhode Island, we can file documents on your behalf through the online process or through an expedited process.
Date Stamped Copies
As a part of the process of company incorporation in Rhode Island, we will ensure, you receive date-stamped and filed copies that verifies that the state has filed as well as formed your corporation.
Costs and Fees associated with Rhode Island Incorporation
What would it cost to set up a company in Rhode Island? Check Fees here!
702-871-8678
