Start an LLC in Rhode Island in 5 Simple Steps
To form a Rhode Island LLC, you must first submit the Articles of Organization with the Rhode Island Secretary of State, which costs $150. Apply online, in person, or by mail. The Articles of Organization are the legally binding documents that establish your Rhode Island limited liability corporation.
The first and most significant step in forming an LLC in Rhode Island is deciding on a name. Make sure your name conforms with Rhode Island naming regulations and is readily searched by prospective customers.
Is the URL accessible? We propose that you investigate if your company’s name is accessible as a web domain. Even if you don’t intend to launch a company website right away, you may wish to purchase the URL to prevent others from doing so.
You must appoint a Rhode Island resident agent for your LLC. In other states, a resident agent is known as a registered agent.
What exactly is a Resident Agent? A resident agent is a person or corporate entity that receives vital tax forms, legal papers, lawsuit notices, and official government communication on your behalf. Consider your resident agent to be your company’s point of contact with the state.
Who may work as a Resident Agent? A resident Agent must be a Rhode Island resident or a company allowed to do business in the state of Rhode Island, such as a registered agent service. You may choose someone from your organization, even yourself.
You must submit the Articles of Organization with the Department of State to register your Rhode Island LLC. This may be done online, in the mail, or in person.
Although an operating agreement is not necessary in Rhode Island, it is a good idea to have one.
What exactly is an operating agreement? An operating agreement is a legal document that outlines an LLC’s ownership and running processes.
Why are operating agreements necessary? A detailed operating agreement guarantees that all firm owners are on the same page and decreases the likelihood of future disagreement.
What exactly is an EIN? EIN is an acronym that stands for Employer Identification Number. EINs are nine-digit numbers provided by the Internal Revenue Service (IRS) to companies to assist them be identified for tax reasons. It is basically a business’s Social Security number.
An EIN is also known as a Federal Employer Identification Number (FEIN) or a Federal Tax Identification Number (FTIN) (FTIN).
When transitioning a sole proprietorship to an LLC, the IRS demands a new EIN.
Where can I get an EIN? The IRS will provide you an EIN for free. Obtaining an EIN is a simple procedure that may be completed online or by mail.
