HOW TO INCORPORATE IN RHODE ISLAND ONLINE
Do I need a lawyer to Incorporate in Rhode Island?
explain
The short answer is no.
The state of Rhode Island does not legally require a lawyer to form a
Rhode Island Corporation.
Our detailed
Incorporation Information page may help you understand some
of the implications of forming a
Rhode Island Corporation.
However, if there is
anything about
Incorporating in Rhode Island
that you're not sure about you should seek the advice of a competent Rhode Island lawyer, a Rhode Island accountant,
or both
before you
Incorporate in Rhode Island.
Once you have made the decision to
Incorporate in Rhode Island, a Rhode Island lawyer
can file your documents and act as a middle man for a few hundred dollars an hour; or you can use an online service provider like All Business Documents
to perform these services and
save money that you can use in your new Rhode Island Corporation.
Do I have to Reserve a Company Name before I Incorporate in Rhode Island?
explain
You are not legally required to reserve a Company Name for a new Rhode Island Corporation before you submit your application to Incorporate in
Rhode Island.
Whether or not you need to reserve a company name for your new Rhode Island Corporation depends entirely on your business situation.
The Rhode Island Secretary of State uses names on a first come first served basis.
So if you think that someone may snatch the Company Name that you have in mind, you may want to reserve that Rhode Island Company Name.
What if the Rhode Island Corporation Name I want is already taken?
explain
If the Name you have chosen for your new Rhode Island Corporation is already in use by a currently active
Rhode Island Corporation or LLC, and you still want to use that Corporation Name, then you will have to register a DBA Name with the Rhode Island Secretary of State. "DBA" is an abbreviation for "
Doing
Business
As."
We verify that the Name you have chose for your new Rhode Island Corporation is available
before we submit
your Incorporation filing to the Rhode Island Secretary of State.
If necessary we can register a DBA Name in Rhode Island for you so that you can open your new Rhode Island business as quickly as possible.
What do I have to do to Incorporate in Rhode Island?
explain
8 things you have to do in order to Form a LLC in Rhode Island.
- Choose a name for your Rhode Island Corporation
- Select an official address and a Registered Agent for your Rhode Island Corporation
- Choose a Board of Directors for your Rhode Island Corporation
- Decide who will be Officers for your Rhode Island Corporation
- Determine how you want your Rhode Island Corporation to be taxed
- File Articles of Incorporation with the Rhode Island Secretary of State
- Get a Federal Employer Identification Number (FEIN) for your Rhode Island Corporation
- Issue Stock Certificates to the Initial Shareholders
- Choose a name for your Rhode Island Corporation
Your Rhode Island Corporation name can identify the type of products and services your business will provide;
or it may be the name of the founder; or it can be a combination of the two or something else.
In any case, the Rhode Island Corporation name that you choose must be distinguishable from the name of any other registered Rhode Island Corporation or other
business entity and the name must also be different from any reserved names on record with the state of Rhode Island.
Your Rhode Island Corporation name must not imply that it was formed for a purpose other than that stated in your
Articles of Incorporation;
and your Rhode Island Corporation name must not be a name that is likely to mislead the public.
The name of a Rhode Island Corporation must include the word "Corporation" or
"Incorporated" or an abbreviation of one of these words.
It's important to choose a good name for your Rhode Island Corporation because if you want to change it after you incorporate you
will have to file amended Articles of Incorporation with the Rhode Island Secretary of State (and pay a fee). We will:
- Check to make sure that your Rhode Island Corporation name is available
- Make sure your Rhode Island Corporation name conforms to state of Rhode Island regulations
- Reserve your Rhode Island Corporation name with the Rhode Island Secretary of State
- Select an official address and a Registered Agent for your Rhode Island Corporation
Every Rhode Island Corporation must have an address that is physically located in the state of Rhode Island.
This address is "registered" with the Rhode Island Secretary of State.
The Registered Address is where official and legal correspondence can be delivered.
The individual or company that is registered with the state of Rhode Island to receive all correspondence on behalf of the Rhode Island
Corporation is called a "Registered Agent".
You may act as your own Registered Agent, however, many Rhode Island Corporations hire a Registered Agent because they don't have a physical
address within the state of Rhode Island or to provide a distinct level of privacy.
We can act as the official Registered Agent for your Rhode Island Corporation.
- Choose a Board of Directors for your Rhode Island Corporation
All Rhode Island Corporations are required to have a Board of Directors.
Directors are the people who will set policies for your Rhode Island Corporation and manage the business and its resources.
In the majority of small corporations directors are the owners.
The Articles of Incorporation or Corporate Bylaws may define specific qualifications for Directors.
The Board of Directors is responsible for creating rules, approving budgets and distributing profits to shareholders.
One of the most important duties of the Board of Directors is electing Officers for your Rhode Island Corporation.
The same person may be a Director and an Officer at the same time.
Directors need not be residents of the state of Rhode Island or shareholders of the Rhode Island Corporation unless the Articles of Incorporation
or Bylaws require it.
Normally Directors for your Rhode Island Corporation are elected for a term of one year.
Elections are held at the annual meeting of Shareholders.
The Directors serve until the next annual Shareholders meeting.
- Decide who will be Officers for your Rhode Island Corporation
The Board of Directors elects Officers for your Rhode Island Corporation in accordance with the Corporate Bylaws and Articles of Incorporation.
Officers serve at the pleasure of the Board of Directors of the Rhode Island Corporation.
Officers handle the day to day operation of the Rhode Island Corporation.
Unless specifically prohibited by the Corporate Bylaws or Articles of Incorporation, in a Rhode Island Corporation
the same person may hold more than one Corporate Office at the same time.
However, there are certain legal affairs in which the same person cannot act in more than one capacity.
One Officer - usually the Secretary - is given responsibility for preparing Minutes of Directors and Shareholders meetings
and for authenticating records for the Rhode Island Corporation.
- Determine how you want your Rhode Island Corporation to be taxed
The Rhode Island Corporate Income Tax Rate is 9%.
You may form an S Corporation in Rhode Island.
S Corporations may "pass through" all corporate profits to the shareholders (owners) who then pay tax at their applicable
personal rate.
S Corporations do not pay any Rhode Island Corporate Income Tax.
If you choose to be taxed as an S Corporation, we can prepare the S Corporation election form for your Rhode Island Corporation and include it with
your Incorporation documents.
Click here for more
Rhode Island Corporate Tax Information
- File Articles of Incorporation with the Rhode Island Secretary of State
In order to form a Corporation in Rhode Island you must file Articles of Incorporation with the Rhode Island Secretary of State.
The Articles of Incorporation must include certain specific information about your Rhode Island business. If the Articles do not conform exactly to state of Rhode Island requirements they will be rejected.
You may subsequently amend the Articles of Incorporation for your Rhode Island Corporation but you will have to pay a fee to the state of
Rhode Island in order to make the changes official.
- Get a Federal Employer Identification Number (FEIN)
A Federal Employer Identification Number, also known as a Federal Tax Identification Number, is used by the IRS to identify a
business entity.
An FEIN is like a Social Security Number for your Rhode Island Corporation.
All Rhode Island Corporations are required to have an FEIN.
We can obtain an FEIN for your Rhode Island Corporation.
- Issue Stock Certificates to the Initial Shareholders
Corporate stock is evidence of ownership of a Rhode Island Corporation.
When you form your Rhode Island Corporation, you will need to determine what type of stock and the number of shares of each type that
you want to authorize.
You do not have to sell the number of shares that are authorized.
Many small Rhode Island Corporations hold 100% of the shares.
Stockholders in a Rhode Island Corporation are entitled to voting rights or dividends of the Corporate profits or both.
Whoever owns over 50% of the stock of the Rhode Island Corporation is able to make all Corporate business decisions.
Rhode Island Corporations usually hold at least 51% of the corporate stock in order to retain control of the Rhode Island Corporation.
What do I have to do after I form my Rhode Island Corporation?
explain
6 things you have to do after you Form a LLC in Rhode Island.
- Conduct an initial Meeting of the Board of Directors and adopt Corporate Bylaws
- Open a Business Bank Account in Rhode Island for your RI Corporation
- Obtain Business Licenses from the cities and counties in which you plan to do business
- Hold Meetings of Shareholders and Directors of EACH year
- File the required Rhode Island Professional Corporation reports
- Keep proper records of your Rhode Island Professional Corporation on file
- Conduct an initial Meeting of the Board of Directors and adopt Corporate Bylaws
The Board of Directors holds an initial meeting to elect Officers, authorize issuance of stock and adopt the Corporate Bylaws.
Bylaws are the internal rules of your Rhode Island Corporation.
They are adopted by the Board of Directors and vary widely from Corporation to Corporation.
Commonly bylaws include the number of seats on the board of directors; how Directors are elected; how meetings of Directors and
Shareholders are to be conducted; what Officers the Rhode Island Corporation will have and a description of each of their duties.
As your company grows over time, you may amend your bylaws as necessary.
Bylaws generally cannot be amended by the Board of Directors unilaterally.
A vote by the majority of Stockholders of the Rhode Island Corporation is usually required to amend the Corporate Bylaws.
Bylaws may include any rules for managing the business and conducting corporate affairs.
Almost anything may be written into the Bylaws, however, the Bylaws must not be in violation of any federal or Rhode Island law or
the Rhode Island Corporation's Articles of Incorporation.
A copy of the Corporate Bylaws should be maintained at the Corporation's principal Rhode Island office.
- Open a Business Bank Account in Rhode Island
It's very important that you have a separate business bank account for your Rhode Island Corporation.
Mixing personal and business funds can get you in a lot of trouble with the tax man down the line.
It's a good idea to contact the bank before you open a business bank account.
Specific requirements vary from bank to bank.
- Obtain Business Licenses from the cities and counties in which you plan to do business
Note that forming a Rhode Island Corporation doesn't take the place of obtaining a business license, tax
registration certificate, or other required business permits.
A Rhode Island Corporation merely creates an ownership structure that limits the owners' personal liability.
You may still need to take care of getting set up to do business with your local government.
Depending on the nature of the business and the location of your Rhode Island Corporation you may need to get one or more city
business licenses or permits.
The business licenses or permits that are required for your Rhode Island Corporation vary depending on your business activities
and the specific locations within the state of Rhode Island in which you want to conduct business.
If your Rhode Island Corporation will be selling products in Rhode Island you may be required to obtain a Reseller's Permit from the appropriate
Rhode Island state agency.
If your Rhode Island Corporation will be selling products in Rhode Island you will also be responsible for all applicable local and state of Rhode Island
sales taxes if there are any.
We can research and prepare the necessary forms for your required business licenses and permits and include
them in your Rhode Island Incorporation package.
- Hold Meetings of Shareholders and Directors of each year
Every Rhode Island Corporation must hold corporate and shareholder meetings, at least annually, and must keep minutes of each meeting
on file.
A copy of the minutes is evidence that the meetings took place and includes all resolutions that were adopted.
The minutes of each meetings must be open for inspection by any Shareholder or Director.
This meeting requirement is often overlooked and comes into play when the Rhode Island Corporation is challenged for any reason.
Keeping proper meeting minutes and documenting resolutions made and approved by the Directors is a formality that could save your
Rhode Island Corporation a lot of potential trouble.
We can transcribe the minutes of any meeting of your Rhode Island Corporation into a form that complies with all
state of Rhode Island requirements.
- File the required Rhode Island Professional Corporation reports
The Rhode Island Secretary of State does not have any Initial Corporation Annual Report requirements for new RI Corporations.
The first Rhode Island Corporation Annual Report is due at the Rhode Island Secretary of State by May 1 in the year after the RI Secretary of State initially approves the Rhode Island Corporation.
Every Rhode Island Corporation is required to file an Annual Report with the Rhode Island Secretary of State EACH year.
The RI Corporation Annual Report is due at the Rhode Island Secretary of State EACH year by May 1.
If a Rhode Island Corporation does not file its Corporation Annual Report with the RI Secretary of State by the due date then the Rhode Island Secretary of State will impose a late filing fee on the Rhode Island Corporation.
If a Rhode Island Corporation fails to file a Corporation Annual Report with the Rhode Island Secretary of State then that RI Corporation will have its Charter revoked by the Rhode Island Secretary of State.
We can fill out and file any Annual Report with the Rhode Island Secretary of State after your Rhode Island Professional Corporation gets going.
- Keep proper records of your Rhode Island Corporation on file
Keep the following records on file and available at the principal business office of your Rhode Island Corporation:
- Names and addresses of all Directors and Officers of the Rhode Island Corporation
- Articles of Incorporation for the Rhode Island Corporation and any Amendments to them
- Corporate Bylaws for the Rhode Island Corporation and any Amendments to them
- List of current shareholders of the Rhode Island Corporation.
If shareholders change, keep a record of old shareholders and how stock was transferred.
- Minutes of all Meetings of Shareholders and Directors
- Copies of any Corporate Resolutions which have been adopted by the Rhode Island Corporation
- Copies of all tax returns and Annual Reports for the Rhode Island Corporation for the last 3 years
What information do I need in order to Incorporate in Rhode Island?
explain
In order to Incorporate in Rhode Island you'll need the following information about your new Company:
- The name of your new Rhode Island Corporation along with your second choice of a name in case the name that you want is not available
- Physical address of the Corporation office in Rhode Island (not a PO Box)
- Name and address of your Rhode Island Registered Agent (not a PO Box)
- A description of the nature of the business you are planning to operate with the Rhode Island Corporation
- Names and addresses of the initial Directors of the Rhode Island Corporation
- The number of shares of stock that the Rhode Island Corporation will be authorized to issue
- The par value of the shares which the Rhode Island Corporation will be authorized to issue
Remember -
ALL the information that you provide when you Incorporate in Rhode Island becomes part of the public record.
Our data entry forms include the
absolute minimum amount of information that is required in order to Form a new Corporation in Rhode Island.
How long does it take to Incorporate in Rhode Island?
explain
Processing times for new Rhode Island Corporation applications vary depending on the work load of the
Secretary of State's staff.
We've found that normal processing of new Rhode Island Articles of Incorporation takes the state around 8-10 business days.
Add 2-3 days for the time period for shipping the final documents by mail.
Choosing our Express Mail option can shave a couple of days off the total processing time for your Rhode Island LLC.
PLEASE NOTE: WE CANNOT GUARANTEE RHODE ISLAND SECRETARY OF STATE PROCESSING TIMES.
We are dependent on, and have no control over, the staff and systems of the Rhode Island Secretary of State.
In our experience 8-10 business days is the time it
usually takes the Rhode Island Secretary of State to process
a new Rhode Island Corporation application.
We get your Rhode Island Corporation application to the RI Secretary of State ASAP.
Once it is at the state we have no control over the new Rhode Island Corporation application process.
Are there any Expedited Processing Options for new RI Corporation Filings?
explain
The Rhode Island Secretary of State does not offer expedited processing options for new RI Corporation applications.
How much does it cost to Incorporate in Rhode Island?
explain
The state of Rhode Island charges $241.00 to Incorporate in RI.
This is the cost of filing and getting a Certified Copy of your Articles of Incorporation from the RI Secretary of State.
If you choose All Business Documents to help you Incorporate in Rhode Island our processing fees are $125.00.
We start processing your new Rhode Island Corporation order as soon as we get it.
Total cost includes:
- RI Name Check and Reservation
- Prepare Articles of Incorporation
- File Articles of Incorporation with the Rhode Island Secretary of State
- Certified Copies of Articles
- Rhode Island Corporation Checklist
- Priority Mail Delivery
- Unlimited Customer Support
What is a Rhode Island Professional Corporation?
explain
Generally, if you are required to obtain some kind of license before you can market your skills in the state of Rhode Island then you will
most likely need to form a
Rhode Island Professional Corporation.
Attorneys, architects, engineers, public accountants, nurses and physicians, among others, may require registration as a Professional
Corporation with the Rhode Island Secretary of State.
Depending on exactly what it is that you want to do in Rhode Island, approval from a specific Rhode Island state agency or board may be required before the RI Secretary of State will approve a new
Rhode Island Professional Corporation filing.
This could add to the total processing time for a new Rhode Island Corporation.
What is Rhode Island Foreign Corporation Qualification?
explain
You want to do business in the state of Rhode Island but are registered as a Domestic Corporation in another state.
In order to legally conduct business in the state of Rhode Island you must register with the Rhode Island Secretary of State as
a Rhode Island Foreign Corporation.
The process of registering as a Foreign Corporation in the state of Rhode Island is called Rhode Island Corporation Foreign Qualification.
The process of Rhode Island Corporation Foreign Qualification is similar to the process of forming a Domestic Corporation in the state of Rhode Island.
Your original formation documents (usually called Articles of Incorporation) and Corporate Bylaws apply to your Rhode Island Foreign Corporation.
The Board of Directors and Officers of your Domestic Corporation have the same roles in the Rhode Island Foreign Corporation.
RHODE ISLAND ONLINE INCORPORATION COST ESTIMATOR
Our RI Incorporation Processing Services include:
(These services are included in our processing fees)
Optional Rhode Island Incorporation Services
(Choose options, cost is updated automatically)
- Express Mail - $35
explain
If you really need your original approved Articles of Incorporation in your hands quickly, the
Express Mail option can cut the delivery time in half.
The Express Mail option has no effect on the Rhode Island Secretary of State's processing time.
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S-Corporation Election - $50
explain
S Corporations are taxed differently than C Corporations.
With an S Corporation, business profits may be "passed through" directly to the shareholders.
This avoids the double tax on both corporate and shareholder profits.
S Corporations do not pay any Rhode Island Corporate Income Tax.
We can prepare the S Corporation Election form for you and include it with your Incorporation documents.
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RI Registered Agent - $135
explain
Every Rhode Island Corporation is required to have an address within the state of Rhode Island where
official and legal correspondence can be delivered.
The individual or company that is registered with the state of Rhode Island to receive all correspondence
on behalf of the Corporation is called a Registered Agent.
You may act as your own Registered Agent, however, many Corporations hire a Registered Agent because they don't have a physical address within
Rhode Island or to provide a distinct level of privacy.
We can act as your Rhode Island Corporation Registered Agent.
This is an annual service.
We will forward all correspondence to you and will remind you when it is time to renew your RI Registered Agent services.
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Customized Bylaws - $75
explain
Bylaws are the rules by which your Rhode Island Corporation must operate.
Every new Rhode Island Corporation requires bylaws.
Almost anything may be written into the bylaws, however, the bylaws must not be in violation of any law or
your Rhode Island Corporation's Articles of Incorporation.
We can create customized initial bylaws for your Rhode Island Corporation that are based on your specific business requirements.
As your company grows over time, you may amend your bylaws as necessary.
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RI Good Standing Certificate - $72
explain
A Rhode Island Good Standing Certficate is proof of the existence of your new Rhode Island Corporation.
The Certificate is issued by the Rhode Island Secretary of State and is proof that your RI Corporation is not behind on any
of its Rhode Island Secretary of State Corporate obligations.
A Rhode Island Good Standing Certificate is often required for loans, to apply for business licenses, or for tax or other business purposes
in the state of Rhode Island or in any other state.
We can get your Rhode Island Good Standing Certificate immediately after the Rhode Island Secretary of State has approved your Articles of Incorporation.
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Federal EIN - $65
explain
An FEIN is like a Social Security Number for your Rhode Island Corporation.
We can get your FEIN on the same day that your Articles of Incorporation are approved by the Rhode Island Secretary of State.
You can get your FEIN before your articles are approved by the Rhode Island Secretary of State but it's a good idea to wait until
after approval.
Your filing may be rejected or the Corporation name that you want may not be approved.
Changing information on an FEIN filing is not a trivial exercise with the IRS.
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Corporation Kit and Seal - $99
explain
While you're not required to have a Corporation Kit and Seal for your new Rhode Island Corporation they do come in handy.
The RI Corporation Kit consists of a beautiful customized binder, stock certificates, a stock ledger
and your custom Corporation Seal.
The Corporation Seal is used to emboss important company documents, such as stock certificates.
The binder also includes dividers so you can use it for all of your Rhode Island Corporation record keeping.
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Business License Research - $175
explain
Most new Rhode Island Corporations are required to get some kind of state, regional or local permits or business licenses.
The task to figure out exactly what you need can be daunting.
We can determine exactly which forms you need to fill out, fill them out for you and file the forms with the appropriate government agency
where possible.