A Rhode Island Benefit Corporation is a type of for-profit corporation that is required by the state of Rhode Island to have a positive impact on society and the environment. It is a legal entity that allows businesses to pursue both financial gain and a "public benefit" in their operations. The benefit corporation is designed to promote corporate responsibility and sustainability by codifying in law a commitment to social and/or environmental goals. There are two types of Rhode Island Benefit Corporation: a standard benefit corporation and a public benefit corporation. A standard benefit corporation is a for-profit corporation that has registered with the state of Rhode Island as a benefit corporation, and is subject to the requirements set out in the state's Benefit Corporation Act. A public benefit corporation is a for-profit corporation that has registered with the state of Rhode Island as a public benefit corporation, and is subject to the requirements set out in the state's Public Benefit Corporation Act. Both types of benefit corporations must file Annual Benefit Reports with the state, detailing how the corporation has met its stated social and/or environmental goals.