Registering a New Business
in Rhode Island

Here are the steps and links to forming a new (for-profit) business. We strongly advise you contact an advisor (an accountant or lawyer) to help you with the decisions and implementation.

1. 1. Decide on your legal structure – Corporation? LLC? Partnership?

1. 1. Decide on your tax structure – S Corporation? LLC taxed as a partnership? As a corporation?  (Many options – can be confusing.)

1. 1. Execute a partners or shareholders’ agreement if it is a multi-owner enterprise.

1. 1. Choose a name and see if it is available.

1. 1. File either Articles of Organization or Incorporation and pay the requisite fee.  

1. 1. Optional: File a Fictitious Name Statement if you wish to use a D/B/A.

1. 1. Obtain your EIN – Employer Identification Number.

1. 1. If you qualify and are choosing to be an S-Corp, file IRS Form 2553.

1. 1. Open a bank account for the business.

1. 1. If you are going to have employees, arrange with a payroll service or qualified bookkeeper to pay employees and pay and file payroll taxes.

1. 1. If you make sales at retail, register for sales tax – even if your sales may be exempt.

1. 1. Arrange for a bookkeeper or bookkeeping system.

1. 1. Obtain necessary insurance coverage.

1. 1. Obtain on-line credentials so you can file your annual report on-line, as well as other forms.

1. Annually file your annual report with the Secretary of State and pay the $50 fee – failure to do so can result in revocation of your charter; annually file your state tax return with the requisite minimum tax of $500 ($450 effective for tax years beginning 1/1/16).