Incorporate your business in Rhode Island;
Our Incorporation information is to help you with the small
business startup process. The Rhode Island Incorporation info can
help answer questions like "How do I form an LLC in Rhode Island?"
or "What type of Incorporation entity should I be? An Rhode Island
S-Corporation or an Rhode Island C-Corporation?" or "What are the
requirements for an Rhode Island Corporation?" It's easy to set up
an Rhode Island Corporation with our Incorporation Software. It has
this and other Incorporation info right on the software. So
once you know, your ready to go!
Corporate Name Endings
The name must contain the word "Corporation,"
"Company," "Incorporated," "Limited," or an abbreviation thereof.
The name must not be deceptively similar to any domestic or
foreign corporation, limited partnership, foreign limited partnership
authorized to do business in the state, or reserved or registered
name, unless written consent is obtained from the holder of
such name. The name may not contain any word implying the corporation
was formed for a purpose for which it is not organized.
Corporation Requirements
Director Information
Minimum Number - One or more.
Residence Requirements - No provision.
Age Requirements - None.
Directors are not required to be listed in the articles
of incorporation.
Officer Information
Officers are not required to be listed in the articles
of incorporation.
Stock Information
An increase in shares may cause an increase in initial
filing fees.
Corporate Records
The stock transfer ledger must be kept at the principal
office of the corporation.
Tax and Fees
Annual Statements
Annual reports for domestic and foreign corporations
must be filed with the Secretary of State between January
1st and March 1st. The first annual report of a corporation
must be filed between January 1st and March 1st of the
next year succeeding the calendar year in which the
certificate of incorporation or authority was issued.
The filing fee is $50.
Franchise Tax
The franchise tax rate is .002.5% of authorized stock
with a minimum tax of $250. If your corporation is liable
for the business corporation tax, you pay only on the
amount by which the franchise tax exceeds the business
corporation tax. If your corporation has not been engaged
in any business activity within the state during the
preceding taxable year, you must pay the annual franchise
tax based upon its authorized capital stock at the following
rates: $250 where stock does not exceed $1,000,000,
and $12.50 for each additional $1,000,000.
Income Tax Rate
The tax rate is 9% of net income. The minimum tax
is $250.
S Corporation
S Corporation status is recognized by the State of
Rhode Island. A separate state election from the federal
election is not required; however, S corporations are
still subject to the franchise tax.
License Requirements
Rhode Island requires most businesses to obtain a
license and pay a fee if operating in the state. Please
check with the state to make sure your business is complying
with the license requirements for your particular profession.
