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An LLC or Limited Liability Company is a legal business structure that provides liability protection to its owners, known as members.
Choosing an LLC for your business in Rhode Island offers liability protection for your personal assets, flexible management structure, and potential tax benefits.
To form an LLC in Rhode Island, you need to file a Certificate of Organization with the Rhode Island Secretary of State by providing essential information about your business and paying the required fees.
The cost of forming an LLC in Rhode Island is $150, which includes the filing fee and the registered agent fee.
Yes, you are required to have a registered agent for your Rhode Island LLC. The registered agent is responsible for receiving legal documents and important notices on behalf of your LLC.
In Rhode Island, LLCs are required to file an annual report with the Secretary of State and pay a filing fee of $50. This report helps to keep your LLC's information up to date.
Yes, a single individual can form and own an LLC in Rhode Island. They will be considered both the owner and the operator of the LLC.
Rhode Island LLC names must include the words 'Limited Liability Company,' or its abbreviations 'LLC' or 'L.L.C.' Additionally, the name must be distinguishable from other registered businesses in the state.
Rhode Island LLCs are subject to the Rhode Island corporate income tax, which is a flat rate of 7%. Additionally, LLCs may be responsible for federal taxes and other local taxes.
Yes, non-US residents can own an LLC in Rhode Island. However, additional documentation may be required, such as an ITIN (Individual Taxpayer Identification Number) or an EIN (Employer Identification Number).
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