How to Determine Rhode Island LLC Costs
- How much is an LLC in Rhode Island?
- Rhode Island LLC Cost: How do I get started?
- What fees go into the total LLC cost in Rhode Island?
- What other Rhode Island LLC fees should I look out for?
- Are there penalties for paying my fees late in Rhode Island?
- What happens if I can't pay my filing fee to the Rhode Island government?
- Who receives the filing fees for forming my Rhode Island business?
- What is the largest fee I will pay when I form my Rhode Island LLC?
- What payment methods can I use to pay my LLC or corporation filing fees to the Rhode Island government?
- How do I form my LLC in Rhode Island?
How much is an LLC in Rhode Island?💵
The cost to start an LLC in Rhode Island is $150.
Rhode Island LLC Cost: How do I get started?🚀
To start an LLC in Rhode Island, you must first prepare and file your Rhode Island LLC Articles of Organization. This requires certain information from you, such as an appropriate and unique LLC name and a registered agent physically located in Rhode Island.
We offer a Rhode Island LLC Formation service to set up your LLC and file your Articles of Organization for only $49.
What fees go into the total LLC cost in Rhode Island?💰
What does it cost to start a business in Rhode Island? Filing your LLC documents in Rhode Island is just one of several costs you may have to pay when starting a Rhode Island LLC.
Rhode Island LLC Filing Fee
It costs $150 to file your Rhode Island LLC’s Articles of Organization, which legally creates your LLC.
Rhode Island LLC Name Reservation
If you would like to select and reserve a particular LLC name before officially filing your Articles of Organization, you can reserve the name with the Rhode Island Secretary of State.
A Rhode Island LLC name reservation costs $50.
Annual Taxes in Rhode Island
The Rhode Island Department of Revenue’s Division of Taxation requires an LLC to pay corporate taxes annually. Rhode Island corporate taxes are at 7% of your LLC’s federal taxable income, minus state deductions, or $400, whichever is greater.
Rhode Island LLC Resident Agent
Free or costs vary: In Rhode Island, you can serve as your LLC’s Resident Agent, also called a Registered Agent, as long as you fit within the Resident Agent requirements. If you serve as your LLC’s Resident Agent, you won’t have to pay anything.
To be your LLC’s Resident Agent, you do have to be available to accept service of process on behalf of your LLC during regular business hours and maintain a physical office within Rhode Island. Sometimes, that is difficult when you want to focus on other aspects of your business.
Because of these requirements, businesses often hire an LLC Resident Agent. We offer a service to help you find a Rhode Island Resident Agent that will fit the bill and abide by Rhode Island’s Resident Agent requirements.
What other Rhode Island LLC fees should I look out for?🔍
Certificate of Good Standing
A Certificate of Good Standing or Certificate of Legal Existence, is a document you often have to provide to banks and other businesses to show that your LLC legally exists in Rhode Island. Ordering a Certificate of Good Standing online costs $22. If you order your Certificate of Good Standing in person, by phone, or by mail, it costs $20.
Business Application and Registration with Rhode Island Department of Revenue
Registering with the Rhode Island Department of Revenue is one potential cost to start a business in Rhode Island. If your LLC is making retail sales, you will have to pay $10 to register your LLC. However, registration is free if your LLC won’t be engaged in retail sales.
Letter of Good Standing
A Letter of Good Standing from the Rhode Island Department of Revenue tells other parties, particularly investors, that your LLC has paid its annual taxes and is in good standing with the Rhode Island Department of Revenue. A Letter of Good Standing for your Rhode Island LLC costs $50.
Rhode Island DBA Name
In some cases, an LLC would like to use different names to do business. In that case, you will need to register your LLC’s DBA name with the Rhode Island Secretary of State. Registering your LLC’s DBA name costs $50.
Foreign LLC Registration
If you have an LLC formed in a state other than Rhode Island and you would like to do business in Rhode Island, you need to register your LLC in Rhode Island. Your out-of-state LLC is considered a “foreign” LLC because it was created in another state.
The average cost to start a business in Rhode Island may be different from starting a business in another state. However, one thing remains the same: you will need to register your Foreign LLC with the Rhode Island Secretary of State. The cost of filing your Foreign LLC Registration is $150.
Business Licensing Fees
Your LLC may need to obtain a business license depending on the type of business you plan on operating. Rhode Island’s Department of Business Regulation has a list of licenses that the state of Rhode Island issues and the application costs of each. Licensing costs vary.
If you’re not sure what kind of business license your LLC will need, we can help. We’ve partnered with Avalara to help you discover whether you need a business license and how to apply for that license.
For just $49, we can form your Rhode Island LLC for you in just minutes. No LegalZoom promo code required: Pay just $49 plus filing fees for fast LLC formation in Rhode Island.
Are there penalties for paying my fees late in Rhode Island? 🚨
If you don’t pay your filing fee for an LLC, then the Secretary of State of Rhode Island won’t accept and file your Certificate of Organization. You won’t obtain LLC status. You won’t enjoy the personal asset protection that an LLC offers.
You can also face penalties if you don’t file your annual report. LLCs must file their annual reports between September 1 and November 1 every year except for the year they formed. If you don’t pay on time, you’ll first have to pay a $25 penalty. Rhode Island can revoke your LLC’s right to do business if you don’t file the annual report at all.
What happens if I can’t pay my filing fee to the Rhode Island government? 🚫
The Rhode Island Secretary of State won’t accept your LLC Certificate of Organization for filing if you can’t pay your filing fee to the Rhode Island government. This means that your LLC won’t legally exist, and you will face the personal liability of a sole proprietorship or general partnership.
Who receives the filing fees for forming my Rhode Island business?💸
The Rhode Island Secretary of State receives the filing fees for forming a Rhode Island LLC.
What is the largest fee I will pay when I form my Rhode Island LLC?📈
The largest fee you will pay for forming a Rhode Island LLC is $150 for filing your Articles of Organization with the Rhode Island Secretary of State.
What payment methods can I use to pay my LLC filing fees to the Rhode Island government?💳
How you can pay your Rhode Island filing fees depends on how you file your LLC Articles of Organization. If you file by mail, you can pay your Rhode Island LLC filing fee by check. You can pay by cash, check, or credit card if you file in person. If you decide to file online, you can pay by credit card.
How do I form my LLC in Rhode Island? 📝
Name your LLC 📛
The first step in any business, including a Rhode Island LLC, is to select an appropriate name for your LLC. Your Rhode Island LLC’s name must be different from other names in the state and follow several other LLC naming regulations.
When you have selected an appropriate name, you can reserve it with the Rhode Island Secretary of State so that someone else doesn’t take it before you file your LLC Articles of Organization.
We can help you with your Rhode Island LLC name selection and reservation process. We have a Business Name Checker to help you find out if your name is available. Plus, we offer a Business Name Reservation Service to help you quickly reserve your LLC name.
Select a Resident Agent ✅
Every Rhode Island LLC needs a Resident Agent. A Resident Agent, also called a “Registered Agent,” is a person or organization with a physical address in Rhode Island who agrees to accept legal documents on behalf of your LLC. You can serve as your LLC’s Resident Agent if you meet Rhode Island’s legal requirements.
Many businesses consider hiring a Resident Agent as part of the average cost to start a business in Rhode Island. We can take the burden of finding a Rhode Island Resident Agent for your LLC off of your shoulders by matching your LLC with a Rhode Island Resident Agent.
File Your Articles of Organization 🗄
A Rhode Island LLC is created by filing Articles of Organization with the Rhode Island Secretary of State.
You can file your Rhode Island LLC Articles of Organization online and pay the filing fee with a credit card. You can also file your LLC Articles of Organization by mail or in person at the Rhode Island Secretary of State’s office and pay the filing fee by check, cash, or credit card.
The address to file your Rhode Island LLC Articles of Organization by mail or in person is:
Rhode Island Secretary of State
Business Services Division
148 W. River Street, Ste. 1
Providence, RI 02904
Draft an Operating Agreement 🖋
An LLC Operating Agreement is a document that sets forth your LLC’s internal policies and rules. An Operating Agreement often addresses the following for your LLC:
- LLC policies and procedures
- Voting procedures for members
- Duties of your LLC’s officers and managers
Although Rhode Island doesn’t specifically require an Operating Agreement, many LLCs find it helpful to put one in place. This way, you will have some rules and policies for making tough decisions for your LLC in the future.
We make creating an LLC operating agreement easy with our Rhode Island LLC Operating Agreement Template.
Obtain an EIN 🏢
Your Rhode Island LLC will also need to obtain an Employer Identification Number, or EIN, from the federal Internal Revenue Service. An EIN is a tax number assigned to your business that you will need for opening a bank account and filing taxes. Your LLC will likely need an EIN even if you don’t plan on having any employees. We can help you get an EIN for your Rhode Island LLC with our EIN Service.
Follow Rhode Island’s Annual Reporting Requirements 🎂
Every year, your Rhode Island LLC will need to take steps to ensure that it complies with Rhode Island’s LLC rules. For example, your LLC will need to file an Annual Report with the Rhode Island Secretary of State to comply with Rhode Island LLC regulations. If you don’t file your Annual Report, you risk losing your LLC status.
You will also need to pay your business taxes annually with the Rhode Island Department of Revenue. Otherwise, you may face penalties.
We simplify filing your Rhode Island Annual Report with our Rhode Island Annual Report Filing Service. This way, you can focus on running your LLC rather than figuring out the ins and outs of Rhode Island’s annual reporting requirements.
Stay Legally Complaint 📂
As time passes, your LLC will grow and change. Often, you will need to take steps to keep your Rhode Island LLC in compliance with regulations as your Rhode Island LLC changes. For example, if you would like to change your LLC’s name, you need to file Articles of Amendment with the Rhode Island Secretary of State. We can help with your LLC’s ongoing needs. We offer a Worry-Free Compliance Service that handles your LLC’s ongoing compliance requirements and includes up to two LLC amendments each year.
We Can Help!
Setting up your Rhode Island business can be challenging and time-consuming. We can help you with all of the footwork involved in starting your Rhode Island LLC so that you can focus on running your business. We can take the time and complications out of setting up your Rhode Island LLC.
Disclaimer: The content on this page is for information purposes only, and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.
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