Annotate Legal Rhode Island Startup For S-Corporation Forms For Free

Every business corporation, joint stock company or association exercising corporation functions or otherwise doing business in this state is required to file an annual tax return using Form RI-1120C and is subject to the income tax (minimum $400.00) under R.I.

S Corporations: If a subchapter S corporation is taxable for federal purposes, it must attach RI Schedule S and compute and pay any tax due at the 7% tax rate.

It is important for a business owner and their representatives to understand the importance of trust fund remittance. Required to file RI-1065 to report income/loss and pay annual charge of $400. No charge for general partnership.

Follow these five steps to start a Rhode Island LLC and elect Rhode Island S corp designation: Name Your Business. Choose a Resident Agent. File the Rhode Island Articles of Organization. Create an Operating Agreement. File Form 2553 to Elect Rhode Island S Corp Tax Designation.

All domestic business partnerships headquartered in the United States must file Form 1065 each year, including general partnerships, limited partnerships, and limited liability companies (LLCs) classified as partnerships with at least two members.

Costs & Fees CorporationLimited Liability Company (LLC)(L3C)Initial RI Dept. of State Filing Fee$230$150RI Dept. of State Annual Report$50$50RI Division of Taxation Minimum Corporate Tax$400*$400*Additional Licensing FeesUse our Business Assistant to gather licensing information for your specific business type.